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AUS: Dromana directors survive removal vote

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Three Dromana Estate directors have survived a vote to have them removed from office.

An EGM called for today (9 March) saw resolutions calling for the dismissal of chairman Richard Green and directors David Craig and Geoff Bell lose overwhelmingly on a show of hands and proxies.

Dromana has faced fierce criticism from a group of shareholders opposed to the company's plans for a share issue.

The producer has shelved plans for the issue after Australia's takeovers watchdog responded to shareholders' complaints and asked for changes to the proposals. 

Disgruntled shareholders had claimed that the share issue would see Dromana directors buy the company for a "deflated price".


Sectors: Wine

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