"Could someone explain to me please, how can the remuneration report be adopted by a show of hands when 30% of the votes were against the adoption."
I believe they just need a majority... eg: 50% + 1.
You may be mistaking it for that new 2 strike rule where if >25% vote against a remuneration report in 2 consecutive years, shareholders can vote to spill the board.
While the report passes with a majority, a large proportion of the shareholders (but still a minority) feel 'ripped off'. In the past they would have been powerless but not any more. Companies now have to be more mindful of how much they 'reward' directors - they may be out of a job next year. Instead of sucking up to 50%+1 of the votes... they now have to do that and not piss off an additional 25%.
I'm pretty sure CFE has just gotten their 1st strike so the directors (mostly Sage) will undoubtedly be on their toes.
CFE Price at posting:
24.5¢ Sentiment: None Disclosure: Held
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