The company's proposal to repay preference shares gained the support of 72.2 per cent of shareholders, just short of the 75 per cent needed. Mr Harris said: 'Given this level of support I intend to immediately put the proposals to shareholders once again. This time shareholders will be able to concentrate fully on the advantages of receiving a 27.75p- a-share cash payment.'
The alternative proposals put forward by Mr Perloff, who speaks for 15 per cent of Etonbrook's equity, were rejected.
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