MSAHAMS Group has been beaten by the fierce opposition of the shareholder and retail rival Phrase Group at its annual general meeting.
The online retail company, which was recently called Boohoo, saw three resolutions were not approved at its meeting on Friday.
The company also saw a heavy vote against its payment plans for the bosses at the meeting, but finally saw the agreement.
It is the last movement in an increasingly bitter row between Anehams and the Mike Ashley Phrasers group, which has a participation of almost 29% in HiShams.
Phrars voted against a series of resolutions in the AGM in its last signal on its frustrations regarding business performance, which has seen that its shared value decreases by more than half during the past year.
DENhams said after the meeting that his resolutions 11, 12 and 13 were not approved at the meeting after not reaching the 75% necessary due to the votes of an “important competitor”, understood as phraters.
Two of the blocked votes related to the “disapproval of rights prior to the issuance”, which related to the process that allows companies to issue new actions to raise funds.
The third vote was related to the ability to have to buy more of his own shares.
In a statement, they said: “These special resolutions were regularly and of a type that the joints regularly recommend as in the best interest of all shareholders.
“While these special resolutions have not been approved, the Board wants to assure shareholders that this is not expected to have any material impact on the group in the future.”
The company's board of directors said they are focused on delivering the “group change strategy”, which has seen the company consider the sale of its real brand.
A vote on the payment packages for the HEBHAMS bosses also saw a significant opposition, directed by phrasers, but approved after receiving 56.5% of the votes in their favor. I needed a majority to pass.
