Manchester-based fashion retailer Boohoo said its shareholders “overwhelmingly” voted against the resolution proposed by Mike Ashley’s Frasers Group plc that Mahmud Kamani, Boohoo founder and group executive vice chair, be removed as a director of the company.
Just over 63% of shareholders voted against the resolution at a General Meeting held on Tuesday.
“With the clear support of shareholders, the board calls on Frasers to end its attempts to destabilise and disrupt the group,” said Boohoo.
“These continued distractions are not in the best interests of creating value for all shareholders.”
Tim Morris, independent non-executive chair of Boohoo Group, said: “I would like to thank our shareholders for their overwhelming support, which provides the board with a clear mandate to continue with the work of creating maximum value for all shareholders.
“Today’s outcome follows the rejection in December of the previous Frasers attempt to destabilise Boohoo. On both occasions 99% of investors who are not connected to Frasers backed the board’s position.”
Boohoo Group CEO Dan Finley said: “Once again, our shareholders have spoken. We want to put this disruption and distraction behind us. Our focus is on maximising value for all shareholders.”