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Media Square
- BY: Andrew Hore |
- POSTED: 05/11/2009 |
Roger Parry is stepping aside as chief executive of Media Square.
Parry will remain as non-executive chairman. Peter Reid becomes chief executive of the marketing services group at the beginning of 2010. He is currently group development director.
Earlier this week, Bob Morton’s Hawk Investments Holdings requisitioned an EGM in order to remove Roger Parry from the board. The plan was to appoint Bob Morton, David Wright and Keith Springall as directors. Morton and Wright are former directors of Incepta, which was acquired by Huntsworth which subsequently sold a number of the businesses to Media Square.
The EGM has not been arranged and it is unclear whether Morton will still push for one.
Anthony Gill has cut his stake in Media Square from 16.1% to 12.1%, while Acuity VCT has cut its holding from 3.2% to less than 3%. It appears that the shares sold by Gill were the majority of those bought by Hawk on 28 October.
Shares in Media Square fell 0.5p to 16.5p each, which values the company at £5.48m.
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