(Alliance News) - IntegraFin Holdings PLC shareholders on Tuesday showed their displeasure with several members of the company's board.
Over 38% of shareholders voted against the re-election of Richard Cranfield, while over 33% voted against the re-election of Neil Holden and over 49% against Michael Howard.
However, all resolutions passed at the annual general meeting, held on Monday.
"The board notes the votes opposing the resolution to reappoint of the chair of the board and nomination committee, Richard Cranfield, the resolution to reappoint Neil Holden and the resolution to reappoint Michael Howard," IntegraFin said.
"The board will engage with shareholders and report in due course on the outcome of these discussions."
IntegraFin was recently involved in attempting to buy pension services platform provider Nucleus Financial Group PLC, but pulled out of the bidding in early January.
Instead, IntegraFin opted to acquire Time for Advice Ltd, which provides software for financial planning and wealth management companies.
IntegraFin did not disclose financial details of the purchase. Time for Advice has 5,000 advisers and owns software product CURO, a cloud solution for financial planning businesses which is built on Microsoft Dynamic 365. CURO offers "business process automation, unlimited access to data and accessible from any device from anywhere in the world".
In mid-January, the firm noted it continued to break its own records, reporting its "highest ever" first quarter gross inflows, leading to a rise in funds.
As at December 31, the FTSE 250 investment platform reported GBP44.82 billion in funds under direction on its Transact platform, a 9.1% increase from GBP39.31 billion reported at the same date the year before.
Net inflows in the period totalled GBP840 million, down 12% from GBP959 million the prior year, while gross inflows increased by 2.6% to a record GBP1.58 billion from GBP1.54 billion. Far outweighing flows, positive market movements increased fivefold year-on-year to GBP2.94 billion from GBP561 million.
Shares in Integrafin were 1.3% higher in London on Tuesday at 484.50 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
IntegraFin Holdings (IHP)