Sir Martin Sorrell expected to return to the London Stock Exchange within a few weeks
Matt Oliver for the daily mail
Sir Martin Sorrell is expected to return to the London Stock Exchange within a few weeks.
Details of the advertiser's plan to take control of the London-denominated investment company Derriston Capital will be sent to the shareholders this morning.
Investors will then be asked to vote on the merger at a meeting on September 27 – a formality, according to sources.
Comeback: the abrupt exit of Sir Martin Sorrell from WPP in April, the company he founded and led for more than three decades, shocked the industry
Sorrell's abrupt exit from WPP in April, the company he founded and led for more than three decades, shocked the industry. The 73-year-old faced accusations of spending corporate funds on a prostitute, which he has vigorously denied.
However, within only 48 hours of leaving WPP, Sorrell would expel its next company.
The businessman then drew millions of pounds from the allies' backs, in addition to bringing in £ 40 million of his own money, to form S4 Capital, which will be turned back to Derriston.
He becomes the executive chairman of the listed company, holding more than 75 percent of the shares, and is accompanied by veteran financier Rupert Faure Walker, 70, and chairman of gamble group Sky Bet, Paul Roy, 71.
Despite the fact that Sorrell compares S4 with a & # 39; peanut & # 39; compared to the global giant WPP, it is probably one of the best viewed marketing agencies in the world.
After the reverse takeover has been approved, the company plans to issue hundreds of millions of shares.