Shareholders veto Exillon board proposals

FTSE 250-listed oil explorer Exillon Energy’s shareholders yesterday rejected special resolutions at its annual general meeting which would limit their scrutiny of the board.

The resolutions follow calls for a management overhaul from minority shareholder, Worldview Capital Management, earlier this year.

One of the proposals would keep Exillon management in their roles for two years regardless of performance and was rejected with 62 per cent of the votes.