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viewWM Morrison Supermarkets PLC

Morrison W.Sprmkts - Result of AGM

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

FOR

%

VOTES

AGAINST

%

VOTES

TOTAL

% of ISC

VOTED

VOTES

WITHHELD

1. Report and Accounts

1,886,525,114

98.43%

30,106,589

1.57%

1,916,631,703

79.69

3,015,269

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

4. Final Dividend

1,915,777,054

99.91%

1,663,889

0.09%

1,917,440,943

79.73

2,206,030

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

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

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

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

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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