The climax of the stand-off between Stock Spirits (STCK) and its largest investor left the company with a bit of a bloody nose.
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A total of 56 per cent of investors backed the election of Alberto Da Ponte and Randy Pankevicz to the company's board, both of whom were recommended by Western Gate Private Investments - owner of 9.7 per cent of the eastern-Europe-focused distiller.
The Stock board said Mr Da Ponte and Mr Pankevicz would be non-independent non-executive directors.
But Western Gate, which represents Luis Amaral, did not get its way in terms of halting the company's merger and acquisition strategy. The vote got 54 per cent support, but it needed 75 per cent of votes to pass as it was a special resolution.
