Television production company DCD Media jumped 43 per cent to 17.5p after striking a deal with disgruntled holders of a £9.9m convertible loan issue.

Gartmore, already a major shareholder, has stepped in to buy a portion of the notes and agreed a new set of terms. Chris Hunt has stepped down as chief executive to concentrate on programme-making. David Green will act as interim chief executive and shareholders will have to vote on the convertible deal.