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The meeting was called by some of Prestbury's shareholders due to "conflicts of interest" after Prestbury announced a pre-tax loss of £1m for the 14-month period ending 31 December.

A statement from Prestbury said: "Following the substantive majority vote in favour of retaining Lee Birkett as chief executive and Lynne Birkett as finance director, we are pleased to now put the uncertainty surrounding the companies key executives and leadership team well and truly behind us.

"The EGM requisition has been an extremely stressful, expensive and time consuming distraction for all Prestbury personnel, while as a company being right at the heart of the credit crunch and associated challenges.

"The timing of the shareholder requisition could not have been any more damaging for the company, particularly when resources were so desperately needed elsewhere for the already stretched day to day business operations.

"The vote is a transparent vindication of the executive’s positions and the chief executive and finance director would like to now get on and focus on delivering a positive service to the Prestbury adviser base and repay their loyalty during this negative requisition.

"Following the positive shareholder display of support today, we now look forward to delivering best shareholder value to all."

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