Anger over Sly Bailey's Trinity payoff

Almost 64 per cent of Trinity Mirror shareholders failed to back the newspaper group's remuneration report in a massive vote of no confidence in the pay of departing chief executive Sly Bailey.

She refused to say a word at her final annual meeting, as shareholders criticised her £1.3m pay package and the 90 per cent share price slump during her nine-year reign.

Shareholder Stephen Bennett told the meeting: "You read in the Mirror about the fatcats and their bonuses. Why don't they look in their own backyard? I've got no confidence in the board and all I can say is: 'You're all fired.'"

Ms Bailey said last week she would resign by the end of the year, in the face of shareholder fury.

She left immediately after the meeting, eschewing the tradition of mingling with investors.

There was further controversy as chairman Sir Ian Gibson admitted some proxy votes were not counted because "paperwork was not handled properly" in advance.