Sports Direct International Plc Results of General Meeting (2530Z)

TIDMSPD

RNS Number : 2530Z

Sports Direct International Plc

13 December 2017

13 December 2017

SPORTS DIRECT INTERNATIONAL PLC

("Sports Direct" or the "Company")

Results of General Meeting

Sports Direct announces the result of the poll on the resolutions put at its General Meeting held on Wednesday 13 December 2017 at Unit D, Brook Park East, Shirebrook, NG20 8RY at 11.00am.

 
                               VOTES        %       VOTES        %        VOTES       % of        VOTES 
                                 FOR                AGAINST               TOTAL       ISC(1)    WITHHELD(2) 
                                                                                      VOTED 
--------------------------  -----------  ------  -----------  ------  ------------  --------  ------------- 
                To approve 
             the extension 
         of the guaranteed 
             minimum value 
              for eligible 
   employees participating 
          in the Company's 
                     share 
                schemes to 
               Karen Byers 
           and Sean Nevitt   41,775,591   34.13   80,615,044   65.87   122,390,635     22.57        368,271 
--------------------------  -----------  ------  -----------  ------  ------------  --------  ------------- 
                To approve 
                a proposed 
                payment to 
               John Ashley   34,408,900   29.27   83,131,951   70.73   117,540,851     21.68      5,191,673 
--------------------------  -----------  ------  -----------  ------  ------------  --------  ------------- 
 

The Board trusts that shareholders will welcome the steps taken to reassure them that John Ashley did not benefit inappropriately from being the brother of majority shareholder Mike Ashley. In fact, John was actually disadvantaged by approximately GBP11m after he forewent bonuses that he would have received if he were treated equally to other executives who helped to build the Company (as outlined in our RNS of 24 November 2017).

By voluntarily abstaining from voting on this issue, the Board has provided the Company's independent shareholders the opportunity to determine whether or not to make a retrospective payment to John Ashley. The Board respects the views of the Company's independent shareholders, and considers all these matters to be closed. We now intend to move on.

Note 1: Issued Share Capital.

Note 2: A 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution.

Ends.

 
 Sports Direct International 
  plc                            T. 0344 245 9200 
  Cameron Olsen, Company         E. [e-mail] 
  Secretary 
 KBA PR 
  Keith Bishop                   T. 0207 734 9995 
                                 E. [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 13, 2017 07:52 ET (12:52 GMT)