The incumbent directors of scooter manufacturer Vmoto have retained their board positions after narrowly surviving a challenge from a group of disgruntled investors.
Three existing diretcors - Oliver Cairns, Kaijian Chen and Trevor Beazley - survived with support from about 55 per cent of shareholders at today's annual meeting.
However, the company's remuneration report, employee share option plan and a planned increase in directors fees were rejected after going to a poll.
Following the meeting, the board issued a statement that "acknowledges today's voting results, which we hope will put an end to the significant distractions that the company has had to endure over the last 6-12 months".
The statement said the company would seek to recruit a chief executive, and added that Mr Beazley would step down as a director once this process was complete.
The investors who opposed the re-election of the current directors have requisitioned another general meeting of sharehlders, which is scheduled to be held on 29 November.
