Orora (ASX:ORA) received a "first strike" against its remuneration report, after it was approved at its annual general meeting with only 51.62% of the votes, with 48.38% of the shareholders voting against its adoption, according to a Wednesday Australian bourse filing.

Under Australian Corporate law, a shareholder vote of 25% or more against the remuneration report is considered a "first strike." A second strike occurs if the subsequent remuneration report also receives a vote of 25% or more against it. Upon a second strike, shareholders decide whether to hold a new meeting to elect new directors.