Manchester-based online fashion firm Boohoo Group announced the results of the General Meeting held on Friday in relation to the proposed appointment of Mike Ashley and Mike Lennon of Frasers Group as directors of Boohoo.

“Shareholders have overwhelmingly voted AGAINST both resolutions proposed by Frasers Group plc,” said Boohoo.

About 63.7% of shareholders voted against the appointments of Ashley and Lennon.

Ashley’s Frasers Group owns about 27% of Boohoo’s shares.

Tim Morris, Independent Non-Executive Chair of Boohoo Group, said: “I would like to thank our shareholders for their support of the Board. We remain focused on delivery of our Business Review with the objection of unlocking and maximising value for all shareholders.”

Dan Finley, Chief Executive Officer of Boohoo Group, said: “Our Group is a dynamic business, with great brands and extremely talented people, underpinned by best-in-class infrastructure.

“Since my appointment, I have hit the ground running, taking immediate and decisive actions to maximise and unlock value for all shareholders.

“I am super energised to realise the significant opportunities I see for this business. I continue to believe this group is materially undervalued. Our most important work is ahead of us, and we will drive value for all shareholders.”