Droneshield Ltd's stock plummeted 11.95% during intraday trading on Monday, marking a significant decline for the counter-drone technology firm.

The sharp drop followed the company's announcement after market hours on Friday that more than 25% of votes were cast against the resolution to adopt its remuneration report, resulting in what is known as a "first strike" under Australian corporate governance rules.

This development represents a significant corporate governance setback for the company and has raised concerns among investors about executive compensation practices at Droneshield.