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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Wh Smith Plc | LSE:SMWH | London | Ordinary Share | GB00B2PDGW16 | ORD 22 6/67P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
51.00 | 4.03% | 1,317.00 | 1,316.00 | 1,319.00 | 1,326.00 | 1,254.00 | 1,254.00 | 347,294 | 16:35:16 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Retail Stores, Nec | 1.79B | 79M | 0.6035 | 21.84 | 1.73B |
TIDMSMWH
RNS Number : 3608M
WH Smith PLC
20 January 2021
20 January 2021
WH SMITH PLC
Result of Annual General Meeting
All resolutions approved
WH Smith PLC held its Annual General Meeting for shareholders at 11.30am today, 20 January 2021. The following table shows the results of the poll on all 18 resolutions:
Resolution Votes % Votes Against % Votes Total % of ISC Votes For Voted Withheld To receive the reports 1 and accounts 105,543,388 99.55 480,903 0.45 106,024,291 81.02 1,869,619 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- To approve the 2 remuneration report 66,038,774 67.43 31,894,173 32.57 97,932,947 74.83 9,959,963 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- To approve the rules of the WH Smith US 3 ESPP 107,453,778 99.73 292,419 0.27 107,746,197 82.33 147,713 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- To re-elect Carl 4 Cowling 101,835,367 94.55 5,872,956 5.45 107,708,323 82.30 185,587 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- 5 To elect Nicky Dulieu 106,765,066 99.12 944,237 0.88 107,709,303 82.30 184,607 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- To re-elect Annemarie 6 Durbin 98,030,165 91.01 9,678,352 8.99 107,708,517 82.30 185,393 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- To re-elect Simon 7 Emeny 100,479,660 93.29 7,227,428 6.71 107,707,088 82.30 186,812 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- To re-elect Robert 8 Moorhead 105,706,923 98.38 1,738,675 1.62 107,445,598 82.10 448,312 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- To re-elect Henry 9 Staunton 97,540,083 91.55 9,001,549 8.45 106,541,632 81.41 1,352,278 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- To re-elect Maurice 10 Thompson 100,479,355 93.29 7,226,964 6.71 107,706,319 82.30 186,109 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- 11 To re-appoint PricewaterhouseCoopers LLP as auditors 104,923,357 97.78 2,383,681 2.22 107,307,038 82.00 586,872 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- 12 To authorise the Audit Committee of the Board to determine the auditors' remuneration 104,379,652 97.32 2,873,773 2.68 107,253,425 81.95 640,485 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- Authority to make 13 political donations 106,951,475 99.32 734,207 0.68 107,685,682 82.28 208,228 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- Authority to allot 14 shares 99,108,724 91.98 8,638,287 8.02 107,747,011 82.33 146,590 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- 15 Authority to disapply pre-emption rights 106,109,751 99.52 509,017 0.48 106,618,768 81.47 1,273,455 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- 16 Authority to disapply pre-emption rights up to a further 5 per cent for acquisitions or specified capital investments 105,628,598 99.07 989,469 0.93 106,618,067 81.47 1,275,843 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- 17 Authority to make market purchases of ordinary shares 106,191,351 99.07 992,201 0.93 107,183,552 81.90 710,358 ----------------------- ------------ ------ -------------- ------ ------------ ------------- ------------- 18 Authority to call general meetings on 14 clear days' notice 105,705,200 98.14 2,002,974 1.86 107,708,174 82.30 185,736 ----------------------- ------------ ------ -------------- ------ ------------ ------------- -------------
Notes
1. Votes "for" and "against" are expressed as a percentage of votes received.
2. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.
3. At the date of the AGM the issued share capital of the Company is 130,869,582 ordinary shares.
Resolution 2 - Directors' remuneration report
We note that while Resolution 2 to approve the Directors' Remuneration Report was passed, we acknowledge that a significant minority of shareholders, 33%, chose not to support this resolution. The Board understands that shareholders' primary concern was the salary increase of GBP25,000 which Mr Cowling received on 1 July 2020 which was previously disclosed to shareholders in the 2019 Remuneration Report.
Our 2019 Remuneration Report explained that, in accordance with best practice, Mr Cowling's salary on his appointment as Group Chief Executive was set at a lower level than his predecessor. The Remuneration Committee agreed that Mr Cowling's salary would increase by GBP25,000 per annum, subject to performance, in each of the next three years following his appointment. The Remuneration Committee believed that Mr Cowling's performance since his appointment merited the first increase in his salary with effect from 1 July 2020. Mr Cowling chose to donate this pay increase to a charity, the Trussell Trust, until October 2020. We confirm that our executive remuneration arrangements are fully in line with our Directors' Remuneration Policy which was approved by over 96% of shareholders at our 2019 Annual General Meeting.
Prior to today's Annual General Meeting, we engaged with a number of shareholders on our executive remuneration arrangements and, as a result, we confirm that the previously announced increase in Carl Cowling's salary in April 2021 will be postponed until such time as the Remuneration Committee believes that it would be appropriate to implement, but it is unlikely to do so in the financial year ending 31 August 2021. We confirm that we will continue to actively engage with shareholders on executive remuneration to ensure their views are fully understood during 2021.
Board changes
As previously announced, Suzanne Baxter did not stand for re-election at the AGM. Following Suzanne Baxter stepping down as a non-executive director, Nicky Dulieu has been appointed as Chair of the Audit Committee.
In accordance with paragraph 9.6.2 of the Listing Rules, a copy of the resolutions passed as special business at the AGM have been submitted to the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
I Houghton
Company Secretary
-Ends-
Enquiries:
WH Smith PLC
Mark Boyle Investor Relations 07879 897687 Nicola Hillman Media Relations 01793 563354
Brunswick
Tim Danaher 020 7404 5959
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END
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(END) Dow Jones Newswires
January 20, 2021 09:53 ET (14:53 GMT)
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