Gift voucher business Park Group PLC is set to change its name to Appreciate Group despite almost a quarter of its shareholders rejecting the proposals.
The firm claims to be the leading multi-retailer redemption product provider, and at its AGM on Tuesday, 22.29% voted against the proposals, with over a quarter (25.31%) also voting against approving the directors' remuneration report.
The Merseyside company, which was founded by ex-Everton FC owner Peter Johnson and was best known for its Christmas hampers, has said it will "engage directly" with shareholders following the vote.
It's understood that despite the opposition, the resolutions were carried, and Park Group will now press on with the changes.
The reasons for opposing the remuneration report, which revealed total payments including salary to be up to £520,000 for CEO Ian O'Doherty, and £856,000 in total to executive directors, are as yet unknown.
Last week, the group announced it was relocating to Liverpool city centre in a move described as a "key step" change .
Following the AGM result, a statement from the firm said: “The Board of Park Group notes that there have been a number of votes cast against Resolution 3 (25.31%) and Resolution 8 (22.29%) and will engage directly with Shareholders to understand their concerns.”
A spokesman declined to comment further.
All other proposals - including to declare a final dividend and to re-appoint Ernst and Young LLP as auditors - were approved at the AGM.
