⁍ Owners of 34.33% of the company’s shares voted against a resolution to adopt the company’s remuneration report.
⁍ Under Australia’s ‘two strike’ rule, if shareholders vote against a company’s remuneration report for two years in a row, they are allowed to call for a new resolution to remove the entire board.
– Australia’s biggest casino operator isn’t having a great day. Shareholders of Crown Resorts, which operates casinos in Brisbane, Melbourne, and Sydney, voted against the company’s executive pay report by a wide margin, Reuters reports. More than 35% of the company’s shares voted against adopting the report, according to a slide shown at the company’s annual general meeting.
Source: https://www.reuters.com/article/australia-crown-resorts-agm-int/shareholders-of-australias-crown-resorts-vote-against-remuneration-report-proxies-idUSKBN27700M