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DroneShield Falls After Shareholders Deliver First Strike Against Remuneration Report

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DroneShield (ASX:DRO) shares fell nearly 12% in recent Monday trade after it said late Friday that shareholders delivered a first strike against the company's remuneration report at its annual general meeting.

Around half of shareholders voted against a resolution to adopt the remuneration report at the May 29 meeting.

Under Australia's Corporations Act, a first strike occurs when a listed company's remuneration report receives a "no" vote from at least 25% of shareholders. A second strike has the potential to lead to a re-election of the board.

In February, DroneShield adopted new trading and disclosure policies to address the findings of a governance review, which was conducted in response to an ASX letter in November 2025. The letter detailed concerns regarding the company's practices around market disclosure and trading by directors and senior executives.

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