REG - Sainsbury(J) PLC - Results of AGM

J SainsburyAnnouncement

07/07/2022 14:45

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RNS Number : 7270R  Sainsbury(J) PLC  07 July 2022

J Sainsbury plc

(the Company)

 

Results of AGM

Following the Annual General Meeting held today, J Sainsbury plc announces the
results of the poll vote for each resolution. The Board was pleased to see all
resolutions approved by shareholders except Resolution 21. Resolution 21 was a
Special Resolution submitted by a small group of shareholders, co-ordinated by
ShareAction, directing the Company to become a Living Wage accredited
employer.

The Board firmly believes the Company must preserve the right to make
independent business decisions which are not determined by an external
organisation and therefore did not support resolution 21.

Resolution 21 required 75 per cent of votes in favour to pass. It received
16.7 per cent of votes and was therefore overwhelmingly rejected by
shareholders.

Commenting on the ShareAction resolution, Martin Scicluna, Chairman of
Sainsbury's said:

"We are proud to have led the way on colleague pay in our industry for the
past five years and to pay our colleagues the living wage regardless of where
they work in the country."

"We would like to thank our shareholders for their overwhelming votes of
support and confidence in how Simon and his team are running the business. We
believe very strongly in paying people well for the excellent job they do for
our customers every single day. We also believe that we need to make all
business investment decisions independently and that these decisions should
not be outsourced to a third party."

 

                                                                                     Votes For      % of Votes Cast  Votes Against  % of Votes Cast  Votes cast     Votes cast as a % of ISC  Votes Withheld(1)
 1   To receive and adopt the Company's audited Annual Report and Financial          1,808,534,797  99.99            113,567        0.01             1,808,648,364  77.17%                    3,767,093
     Statements for the 52 weeks to 5 March 2022, together with the Reports of the
     Directors and auditor
 2   To approve the Annual Report on Remuneration                                    1,770,454,195  98.53            26,472,313     1.47             1,796,926,508  76.67%                    15,487,949
 3   To declare a final dividend of 9.9 pence per ordinary share in respect of the   1,811,301,047  99.99            258,825        0.01             1,811,559,872  77.29%                    855,585
     52 weeks to 5 March 2022
 4   To elect Jo Bertram as a Director                                               1,794,404,993  99.07            16,869,476     0.93             1,811,274,469  77.28%                    1,140,988
 5   To re-elect Brian Cassin as a Director                                          1,769,281,401  97.68            42,044,555     2.32             1,811,325,956  77.28%                    1,089,501
 6   To re-elect Jo Harlow as a Director                                             1,764,497,419  97.60            43,303,205     2.40             1,807,800,624  77.13%                    4,614,804
 7   To re-elect Adrian Hennah as a Director                                         1,757,913,309  97.05            53,417,031     2.95             1,811,330,340  77.28%                    1,084,918
 8   To re-elect Tanuj Kapilashrami as a Director                                    1,768,748,163  97.65            42,538,320     2.35             1,811,286,483  77.28%                    1,128,974
 9   To re-elect Kevin O'Byrne as a Director                                         1,809,359,373  99.89            1,959,715      0.11             1,811,319,088  77.28%                    1,096,198
 10  To re-elect Simon Roberts as a Director                                         1,810,579,186  99.96            729,377        0.04             1,811,308,563  77.28%                    1,106,894
 11  To re-elect Martin Scicluna as a Director                                       1,754,846,666  96.88            56,480,483     3.12             1,811,327,149  77.28%                    1,088,079
 12  To re-elect Keith Weed as a Director                                            1,769,264,042  97.68            42,060,482     2.32             1,811,324,524  77.28%                    1,087,579
 13  To re-appoint Ernst & Young LLP as auditor                                      1,807,846,519  99.81            3,493,688      0.19             1,811,340,207  77.28%                    1,075,221
 14  To authorise the Audit Committee to determine the auditor's remuneration        1,810,160,557  99.93            1,232,064      0.07             1,811,392,621  77.29%                    1,022,836
 15  Directors' general authority to allot shares                                    1,754,340,631  96.85            57,059,589     3.15             1,811,400,220  77.29%                    1,008,365
 16  Directors' general authority to disapply pre-emption rights without             1,805,793,118  99.72            5,155,690      0.28             1,810,948,808  77.27%                    1,466,649
     restriction as to use

     (Special Resolution)
 17  Authority to disapply pre-emption rights for acquisitions or specified capital  1,735,381,190  95.83            75,553,648     4.17             1,810,934,838  77.27%                    1,479,035
     investments

     (Special Resolution)
 18  To authorise the Company to make 'political donations' and incur 'political     1,463,294,053  99.58            6,167,956      0.42             1,469,462,009  62.70%                    342,955,413
     expenditure'
 19  To authorise the Company to purchase its own shares                             1,806,726,684  99.80            3,538,810      0.20             1,810,265,494  77.24%                    2,149,891

     (Special Resolution)
 20  To authorise the Company to call a general meeting on not less than 14 clear    1,690,202,105  93.31            121,229,131    6.69             1,811,431,236  77.29%                    984,075
     days' notice

     (Special Resolution)
 21  Shareholder Resolution on Living Wage accreditation                             294,523,005    16.69            1,470,491,308  83.31            1,765,014,313  75.31%                    47,414,289

     (Special Resolution)

(1)A vote withheld is not a vote under English law and is therefore not
included in the calculation of votes for and against a resolution.

The total number of voting rights as at 7 July 2021 was 2,343,771,411 shares
of 28(4)/(7) pence.

In accordance with Listing Rule 9.6.2, copies of the resolutions that do not
constitute ordinary business at an annual general meeting will be submitted to
the National Storage Mechanism and will be available for inspection
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

A copy of the voting results shown above will also be made available on the
Company's website at
https://www.about.sainsburys.co.uk/investors/shareholder-information/agm
(https://www.about.sainsburys.co.uk/investors/shareholder-information/agm) .

 Investor Relations Enquiries  Media Enquiries
 James Collins                 Rebecca Reilly
 +44 (0) 20 7695 0080          +44 (0) 20 7695 7295

 

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