LONDON (Alliance News) – Matomy Media Group Ltd on Friday said shareholders have supported its proposals to increase the size of the board and appoint two new directors, but the plan did face opposition from a large chunk of investors at the extraordinary general meeting.
Matomy held its EGM on Thursday to put forward three proposals: one to up the size of the board to 10 members from 8 and, if that was approved, two further proposals to appoint two new directors to the board.
Matomy launched a new strategic plan in the second half of 2016 as it focused on conducting additional research and development for mobile and video, and to up its marketing efforts, following periods of declining ad revenue.
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