Revenue for calendar 2013 has been downgraded to $126.5 million from $132.5 million in its prospectus.
Mr Waller said he Nike Metcon Good For Running
Chief executive Matt McCann quit in October, as the company missed its year to June 30 revenue forecast of $121.6 million by $3.6 million, prompting an investigation by the corporate regulator into its disclosure Nike Lebron Soldier 10 Gold Swoosh practices.
The Australian Shareholders Association had urged shareholders reject the report because of what it said were too generous short and long term bonuses and also called for Mr Waller to stand down to improve corporate governance and independence.
If 25 per cent or more of investors reject the report again next year, delivering a 'second strike', they may get a vote to oust the board under Australian corporate law.
Shareholders were unimpressed that while they have received no dividends, iSelect paid bonuses and extra project related pay to executives despite a disastrous first five months since publicly listing.
Its first day trading was marred by major shareholder Spectrum Equity Investors unexpectedly selling most of its eight per cent stake, with some other investors following suit in the days after.
Mr McCann received a bonus of $276,456 on top of his salary of $459,673 and Nike Metcon 2 Blue And Black
diversifying its earnings from just private health insurance.
was confident the company would continue to see year on year growth and that it had the right business model Nike Lebron Black And Gold
Mr Waller said he was disappointed with the company's stock market debut but said there was nothing fundamentally wrong with the business.
First strike against iSelect
It was cleared of wrongdoing.
Since its June debut, it has lost one third or $170 million of its stockmarket value, falling from its issue price of $1.85.
A vote on the remuneration report at its AGM on Monday resulted in 27.5 per cent of shareholders rejecting it.
executive chairman and company founder Damien Waller collected a $172,687 bonus on top of his $526,995 salary.
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