Incoming M&C Saatchi chair builds 0.1% stake in advertising group

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Submitted April 26th 2023 & consists of 599 words.
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The incoming non-executive chair of M&C Saatchi has built up a stake in the advertising company ahead of joining its board this summer.

Zillah Byng-Thorne has bought 143,536 ordinary shares in the company at an average price of 174p per share, amounting to a 0.12 per cent stake, M&C Saatchi told investors on Monday.

Byng-Thorne, the former chair of Wallpaper and Homes & Garden publisher Future, will succeed Gareth Davis following his retirement at the company’s annual general meeting in mid-June.

Incoming chair Zillah Byng-Thorne has built a 0.1% stake in M&C Saatchi

in May last year and removed Vin Murria, its biggest shareholder, from its board the following month.

Shareholders in the advertising company later also , despite having initially backed it.

At the time, M&C said that its directors looked forward ‘to continuing the implementation of M&C Saatchi’s strategy as an independent business’.

Last week, the company reported a 75 per cent slump in pre-tax statutory profit for 2022, which it said was mostly due to £10.8million of ‘one-off defence costs’ related to the failed takeover bids.

However, revenues surged 8.7 per cent to £271.1 million as M&C won several new accounts, including drinks giant Diageo, dating app Tinder and luxury house LVMH.

were 0.9 per cent higher at 174p in early trade on Monday.

The stock has recovered ground since the start of the year, rising by about 15 per cent, but remains down by around 4 per cent compared to 12 months ago.

Saatchi was founded in 1995 by brothers Maurice and Charles Saatchi after the pair were ousted from the agency they started 25 years previously, Saatchi & Saatchi.

Known for close ties to the Conservative Party, its clients have included some major corporate names, ranging from retail giant Amazon, to fashion brands Burberry and Hugo Boss and Dutch flagship airline KLM.

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<!DOCTYPE HTML PUBLIC '-//W3C//DTD HTML 4.01 Transitional//EN' 'http://www.w3.org/TR/html4/loose.dtd'><html><head><title>Write About Everything | Incoming M&C Saatchi chair builds 0.1% stake in advertising group</title></head><body><h3>Incoming M&C Saatchi chair builds 0.1% stake in advertising group</h3><br><br> By:  <br><br><p class="mol-para-with-font">The incoming non-executive chair of M&C Saatchi has built up a stake in the advertising company ahead of joining its board this summer. </p><p class="mol-para-with-font">Zillah Byng-Thorne has bought 143,536 ordinary shares in the company at an average price of 174p per share, amounting to a 0.12 per cent stake, M&C Saatchi told investors on Monday. </p><p class="mol-para-with-font">Byng-Thorne, the former chair of Wallpaper and Homes & Garden publisher Future, will succeed Gareth Davis following his retirement at the company's annual general meeting in mid-June.</p><div class="artSplitter mol-img-group" style="style"> <div class="mol-img"> <div class="image-wrap">  </div>  <img id="i-2e3bbdcbd9eaa609" height="426" width="634" alt="Incoming chair Zillah Byng-Thorne has built a 0.1% stake in M&C Saatchi" class="blkBorder img-share" />  </div> <p class="imageCaption">Incoming chair Zillah Byng-Thorne has built a 0.1% stake in M&C Saatchi</p></div><p class="mol-para-with-font"> in May last year and removed Vin Murria, its biggest shareholder, from its board the following month.</p><p class="mol-para-with-font">Shareholders in the advertising company later also , despite having initially backed it. </p><p class="mol-para-with-font">At the time, M&C said that its directors looked forward 'to continuing the implementation of M&C Saatchi's strategy as an independent business'. </p><div><div data-track-module="am-related_carousel^related_carousel" data-track-selector=".rotator-panels a:not([class*=external])" data-dm-rotator-rotate="false" data-track-pos="static" data-dm-rotator-auto-init="" id="p-18" class="related-carousel with-fb-or-tw money" data-dm-rotator-active-class="active" data-dm-rotator-page-count="1.0" data-dm-social-article-auto-init="" data-dm-rotator-page-size="1"> <div class="rotator bdrcc"> <div class="rotator-title"> <h2>RELATED ARTICLES</h2> <ul class="rotator-pages link-xocc"> <li class="rotator-prev"></li> <li></li> <li class="rotator-next"></li> </ul> </div> <ul class="rotator-panels link-bogr1 linkro-ccox"> <li>     </li> </ul> </div> <div class="fb"> <h2>Share this article</h2> <div class="big-share"><span class="wai">Share</span></div> </div> </div> </div><p class="mol-para-with-font">Last week, the company reported a 75 per cent slump in pre-tax statutory profit for 2022, which it said was mostly due to £10.8million of 'one-off defence costs' related to the failed takeover bids.</p><p class="mol-para-with-font">However, revenues surged 8.7 per cent to £271.1 million as M&C won several new accounts, including drinks giant Diageo, <a href="https://sexchen.de">dating</a> app Tinder and luxury house LVMH.</p><p class="mol-para-with-font"> were 0.9 per cent higher at 174p in early trade on Monday. </p><p class="mol-para-with-font">The stock has recovered ground since the start of the year, rising by about 15 per cent, but remains down by around 4 per cent compared to 12 months ago. </p><p class="mol-para-with-font">Saatchi was founded in 1995 by brothers Maurice and Charles Saatchi after the pair were ousted from the agency they started 25 years previously, Saatchi & Saatchi.</p><p class="mol-para-with-font">Known for close ties to the Conservative Party, its clients have included some major corporate names, ranging from retail giant Amazon, to fashion brands Burberry and Hugo Boss and Dutch flagship airline KLM.</p><div class="moduleFull"><div class="money item html_snippet module"> <p><u><b>#fiveDealsWidget .dealItemTitle#mobile display:none</b></u></p><p>#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px</p><p>#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif</p><p><b>#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;</b></p><p>#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px;</p><p>#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;</p><p>#fiveDealsWidget a.dealItem#last margin-right:0</p><p>#fiveDealsWidget .dealItemTitle display:block;  margin:10px 5px; color:#000; font-weight:bold</p><p>#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0</p><p>#fiveDealsWidget .dealItemImage border:1px solid #ccc</p><p>#fiveDealsWidget .dealItemImage img width:100%; height:auto</p><p>#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;</p><p>#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px</p><p>#fiveDealsWidget .dealFooter display:block; float:left; width:100%; margin-top:5px; background-color:#e3e3e3</p><p><b>#fiveDealsWidget .footerText font-size:10px; margin:10px 10px 10px 10px;</b></p><p>@media (max-width: 635px)</p><p>#<a href="https://www.britannica.com/search?query=fiveDealsWidget">fiveDealsWidget</a> a.dealItem  width:19%; margin-right:1%</p><p>#fiveDealsWidget a.dealItem#last width:20%</p><p><b>@media (max-width: 560px)</b></p><p><b>#fiveDealsWidget #desktop display:none;</b></p><p><b>#fiveDealsWidget #mobile display:block!important</b></p><p>#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto</p><p>#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px</p><p>#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px</p><p>#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last  width:100%</p><p><u>#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block</u></p><p>#fiveDealsWidget .dealItemImage width:35%; margin-right:1%</p><p>#fiveDealsWidget .dealItemContent width:63%</p><p>#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px</p><p>#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both</p><p> <div id="fiveDealsWidget"> <div class="widgetTitleBox"> <div class="widgetTitle">DIY INVESTING PLATFORMS</div> </div>  <div class="deals">          </div> <div class="dealFooter"> <div class="footerText">Affiliate links: If you take out a product This is Money may earn a commission. This does not affect our editorial independence.</p><p></div> </div>  <div style="float:left;width:100%;margin-top:5px;background-color:#af1e1e"> <div style="font-size:18px;margin:6px 10px 6px 10px;color:#fff"> <div> </div> </div> </div> </div> <div style="clear:both"></div> </div> </div></div></p><br><br><b>Article Courtesy of</b> <a href='https://wr1te.com'>Write About Everything</a><br>
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