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Oxford Cannabinoid shareholders reject investor call to overhaul board

By Reuters

– Britain’s Oxford Cannabinoid Technologies said on Wednesday shareholders rejected all resolutions put forward by its third-largest investor to oust the pharmaceutical company’s chief executive officer and overhaul the board.

Majority of shareholders who voted at a meeting of London-listed Oxford Cannabinoid turned down GHS Capital’s proposals. The British company’s former non-executive director Gavin Sathianathan serves as the top boss of U.S.-based GHS.

Sathianathan in February had called for the removal of six of Oxford Cannabinoid’s directors, including CEO John Lucas and Chair Julie Pomeroy, and asked for the company to appoint new members.