DUNFERMLINE-based medical device company Optos has seen off complaints about its pay policy by corporate watchdog PIRC with just 0.9% of shares being voted against its remuneration report.

Chairman Peter Fellner told the annual investor meeting in London: "In the current environment, that is a very strong vote in favour of a remuneration report."

Taking into account withheld votes, typically a signal of dissatisfaction with board policies, investors holding 6.3% of shares failed to back the pay report

PIRC had complained about a lack of transparency over performance criteria at the retinal imaging business.

It also had concerns as directors have six-month rolling contracts but would be compensated for a further six months if made redundant following a takeover.

Optos's shares struggled after it floated in 2006, but chief executive Roy Davis, who joined in 2008, has sought to transform the company's fortunes by broadening its product range and extending its reach from optometry into opthamology,.

Optos has seen increased sales and margins in the last two years. In its latest update for the three months to December 31 it recorded a 63% jump in first-quarter revenues to $41.9 million (£26.9m).

The next major step will be the launch of its Daytona retinal scanning device, which will sell for between $82,500 and $85,000.

With a sealed unit, this should require less maintenance and enable the company to sell to more remote markets.

Mr Davis told The Herald Optos is poised to start manufacturing the devices at its Fife headquarters.

Optos was founded in 1992 by Douglas Anderson who sought to commercialise a retinal imaging device after his then five-year-old son went blind in one eye when a retinal detachment was detected too late.

The company employs 400 people worldwide including 150 in the UK, most of them at its base in Fife. Optos's shares rose 4.5p or 2.1% to 217p.