Lazy voting...proxy the chair and let the board sort it out. Also many iInstitutional and nominee companies tend to go with the board recommended vote for resolutions.
Still, not a very pleasing outcome but if the board was anything but a bunch of mediocre coconuts they would be looking closely at the vote count and collectively spend some time analysing what perhaps they had slipped up on in regards their duty to shareholders.
Nothing will happen in this company though, it is just one of the risks we have to bare with this lot.
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