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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sainsbury (j) Plc | LSE:SBRY | London | Ordinary Share | GB00B019KW72 | ORD 28 4/7P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.00 | 1.11% | 274.20 | 274.00 | 274.40 | 275.60 | 271.60 | 272.20 | 5,516,770 | 16:29:33 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Grocery Stores | 32.7B | 137M | 0.0581 | 47.30 | 6.48B |
From May 2019 to May 2024
By Saabira Chaudhuri
An Egyptian court Thursday acquitted J Sainsbury PLC's (SBRY.LN) Chief Executive Mike Coupe of all charges in connection with a case involving a dispute with a local businessman in Egypt.
The conviction was tied to allegations made by Amr Amin Hamza El Nasharty, who headed a company called Egyptian Distribution Group, or Edge, with which Sainsbury's did business.
According to a Sainsbury's statement in April, Mr. El Nasharty maintained that Mr. Coupe flew to Egypt in July of last year and seized bounced checks out of a bankruptcy file in the country. Mr. El Nasharty had said he was pressured into buying back shares of Edge, which in 1999 Sainsbury's had bought an 80% stake in, and that he did so using postdated checks which later bounced.
Mr. Coupe, who in April appeared in a court in Giza, Egypt, to appeal a September conviction made in his absence, was acquitted of "all charges brought against him as a representative of the company" according to a regulatory filing on Thursday afternoon.
Write to Saabira Chaudhuri at Saabira.Chaudhuri@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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