Champion Iron Receives Second Strike Against Remuneration Report
MT Newswires Live
Aug 27
Champion Iron (ASX:CIA) received a second strike against its remuneration plan after 36.52% of the votes cast at its annual general meeting on Wednesday opposed the plan, according to a Thursday Australian bourse filing.
A first strike occurs when 25% or more of shareholders oppose the company's remuneration report at the annual general meeting. If 25% or more of shareholders oppose the remuneration report at the next annual general meeting, this constitutes a second strike and triggers a spill resolution.
The resulting conditional spill resolution was defeated after 98.49% of the votes cast opposed the resolution.
Its shares fell 1% in recent trading on Thursday.
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