Norway’s DOF Group has suffered another seismic shock as rebel shareholders succeeded in ousting the company’s board of directors.

The latest twist in the shipowner’s battle for survival saw a minority group of investors succeed in a vote to replace the Oslo-listed company’s four directors with five of their own at a shareholders’ meeting on Wednesday.

Norwegian offshore owner DOF goes to court in $2bn reconstruction bid to save company
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Minutes showed a majority of 57.7%