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Share Name Share Symbol Market Type Share ISIN Share Description
Morrison (wm) Supermarkets Plc LSE:MRW London Ordinary Share GB0006043169 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.05 0.55% 192.25 191.30 191.35 193.20 189.25 191.30 3,891,925 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food & Drug Retailers 17,536.0 435.0 14.6 13.2 4,630

Morrison(Wm.)Supermarkets PLC Result of AGM

11/06/2020 4:00pm

UK Regulatory (RNS & others)


Morrison (wm) Supermarkets (LSE:MRW)
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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 
                              =============  ======  ===========  ======  =============  ======  ========= 
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 rns@lseg.com or visit www.rns.com.

END

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June 11, 2020 11:00 ET (15:00 GMT)

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