TIDMMRW
RNS Number : 7159P
Morrison(Wm.)Supermarkets PLC
11 June 2020
For immediate release 11 June 2020
Wm Morrison Supermarkets PLC ("Morrisons" or the "Company")
AGM announcement
Wm Morrison Supermarkets PLC announces that at its Annual
General Meeting held on 11 June 2020 at Hilmore House, Gain Lane,
Bradford, BD3 7DL, each of the resolutions submitted to the meeting
(as set out in the Notice of Meeting dated 13 May 2020) was
proposed and passed by the appropriate majority on a poll.
The poll votes on each resolution were as follows:
VOTES % VOTES % VOTES % of VOTES
FOR AGAINST TOTAL ISC WITHHELD
VOTED
1. Report and Accounts 1,886,525,114 98.43% 30,106,589 1.57% 1,916,631,703 79.69 3,015,269
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2. Directors' Remuneration
Report 1,862,012,229 97.21% 53,344,784 2.79% 1,915,357,013 79.64 4,289,959
============= ====== =========== ====== ============= ====== =========
3. Directors' Remuneration
Policy 1,247,787,105 65.17% 666,751,457 34.83% 1,914,538,562 79.61 5,108,456
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4. Final Dividend 1,915,777,054 99.91% 1,663,889 0.09% 1,917,440,943 79.73 2,206,030
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5. Adoption of the 2020
Sharesave Scheme 1,909,354,893 99.56% 8,517,320 0.44% 1,917,872,213 79.74 1,774,760
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6. To re-elect Andrew
Higginson 1,671,691,761 87.29% 243,406,558 12.71% 1,915,098,319 79.63 4,548,653
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7. To re-elect David
Potts 1,896,269,910 98.90% 21,087,996 1.10% 1,917,357,906 79.72 2,289,067
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8. To re-elect Trevor
Strain 1,894,793,599 98.82% 22,552,139 1.18% 1,917,345,738 79.72 2,301,235
============= ====== =========== ====== ============= ====== =========
9. To elect Michael Gleeson 1,895,135,772 98.84% 22,213,345 1.16% 1,917,349,117 79.72 2,297,856
============= ====== =========== ====== ============= ====== =========
10. To re-elect Rooney
Anand 1,892,113,780 98.68% 25,232,721 1.32% 1,917,346,501 79.72 2,300,472
============= ====== =========== ====== ============= ====== =========
11. To re-elect Kevin
Havelock 1,885,354,313 98.33% 31,986,584 1.67% 1,917,340,897 79.72 2,306,076
============= ====== =========== ====== ============= ====== =========
12. To re-elect Belinda
Richards 1,524,498,918 79.51% 392,833,979 20.49% 1,917,332,897 79.72 2,314,076
============= ====== =========== ====== ============= ====== =========
13. To re-elect Paula
Vennells 1,908,687,780 99.55% 8,637,587 0.45% 1,917,325,367 79.72 2,321,606
============= ====== =========== ====== ============= ====== =========
14. Reappointment of
Auditors 1,894,157,486 98.79% 23,193,056 1.21% 1,917,350,542 79.72 2,296,431
============= ====== =========== ====== ============= ====== =========
15. Auditors' Remuneration 1,916,364,524 99.95% 940,724 0.05% 1,917,305,248 79.72 2,341,725
============= ====== =========== ====== ============= ====== =========
16. Political Donations 1,861,700,268 97.10% 55,591,125 2.90% 1,917,291,393 79.72 2,355,580
============= ====== =========== ====== ============= ====== =========
17. General authority
to allot shares 1,588,214,987 82.81% 329,641,064 17.19% 1,917,856,051 79.74 1,790,922
============= ====== =========== ====== ============= ====== =========
18. Disapplication of
pre-emption rights 1,634,816,101 85.24% 283,023,198 14.76% 1,917,839,299 79.74 1,807,674
============= ====== =========== ====== ============= ====== =========
19. Authority to purchase
Wm Morrison Supermarkets
PLC shares 1,888,957,240 98.51% 28,527,307 1.49% 1,917,484,547 79.73 2,162,425
============= ====== =========== ====== ============= ====== =========
20. Notice period for
General Meetings 1,841,591,178 96.05% 75,803,222 3.95% 1,917,394,400 79.72 2,252,573
============= ====== =========== ====== ============= ====== =========
Resolutions 1 to 17 were ordinary resolutions. Resolutions 18 to
20 were special resolutions.
Votes 'For' include votes at the discretion of the Chairman.
Votes withheld are not counted in the count of the total votes or
the calculations of the percentages For or Against each resolution.
Percentages are rounded to two decimal places.
As previously announced, as a result of the Coronavirus pandemic
and in line with Government Guidance, the Company held a limited
Annual General Meeting at the Company's registered office with only
the minimum number of shareholders present who were all employees
of Morrisons as required to form a quorum under the Company's
articles of association. All valid proxy votes and voting
instructions (whether submitted electronically or in hard copy
form) were included in the poll taken at the meeting.
Resolution 3
The Board is delighted by the high level of support for
Resolution 2, the Annual Report on Remuneration, which received a
97% vote in favour. The Board thanks shareholders for their support
of the new Remuneration Policy (Resolution 3) which was approved
with a 65% vote in favour, but notes the number of votes opposing
this resolution.
We undertook an extensive consultation process before proposing
the new Remuneration Policy and hope that shareholders note the
positive changes we have made including the introduction of a
post-cessation shareholding guideline. Although the policy vote
passed, and we received considerable positive feedback during
consultation, the Board acknowledges a number of shareholders
decided to vote against the policy.
Kevin Havelock (Chair of the Remuneration Committee), on behalf
of the Board, will therefore continue to engage with shareholders
and will report in due course on the outcome of those
discussions.
Resolution 12
The Board also notes the level of votes cast against Resolution
12, the re-election of Belinda Richards, which received 79%
approval. This is primarily driven by the votes from a small number
of institutional shareholders who applied a more stringent voting
policy on directors' external commitments than is market
practice.
The Board strongly supports Belinda's re-appointment to the
Board, and throughout her tenure she has demonstrated her
commitment to the Company and ability to dedicate sufficient time
to her duties. The Nomination Committee carefully monitors all
directors external time commitments and would take appropriate
action should concerns be identified.
We will continue to engage with our shareholders on this matter
and will report in due course.
Total shares in issue at the time of the meeting were
2,405,047,577.
In accordance with Listing Rule 9.6.2, a copy of resolutions 3,
5, and 17 to 20 (as set out in the notice of Annual General
Meeting), being the resolutions passed at the Annual General
Meeting not concerning ordinary business, will be submitted today
to the Financial Conduct Authority's national storage
mechanism.
Jonathan Burke
Company Secretary
Wm Morrison Supermarkets PLC
Tel: 0345 611 5953
Registered Office:
Hilmore House
Gain Lane
Bradford
BD3 7DL
Company Number: 358949
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END
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