TIDMTSCO
RNS Number : 3675P
Tesco PLC
17 June 2022
Tesco PLC
17 June 2022
Tesco PLC - Results of AGM
Tesco PLC held its Annual General Meeting on Friday 17 June 2022
at 2:00 p.m. All resolutions proposed were passed by shareholders.
A poll was held on each of the resolutions proposed. The results of
the polls are as follows:
VOTES % VOTES AGAINST % TOTAL VOTES % ISSUED VOTES WITHHELD
FOR VALIDLY SHARE CAPITAL
CAST
To receive
the report
1 and accounts 5,533,201,278 100.00 238,631 0.00 5,533,439,909 73.67% 70,885,741
To approve
the
Directors'
remuneration
2 policy 5,147,774,233 91.98 448,770,044 8.02 5,596,544,277 74.51% 7,776,447
------- -------------- ------ -------------- --------------- ---------------
To approve
the
Directors'
remuneration
3 report 5,166,112,551 92.22 435,857,530 7.78 5,601,970,081 74.59% 2,350,578
------- -------------- ------ -------------- --------------- ---------------
To declare a
final
4 dividend 5,601,439,521 99.98 1,314,021 0.02 5,602,753,542 74.60% 1,569,692
------- -------------- ------ -------------- --------------- ---------------
To re-elect
John Allan as
5 a Director 5,118,678,207 91.37 483,387,983 8.63 5,602,066,190 74.59% 2,258,484
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Melissa
Bethell as a
6 Director 5,599,359,867 99.95 2,567,162 0.05 5,601,927,029 74.58% 2,392,587
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Bertrand
Bodson as a
7 Director 3,925,294,116 70.71 1,625,682,078 29.29 5,550,976,194 73.91% 53,343,300
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Thierry
Garnier as a
8 Director 5,528,480,470 99.88 6,854,600 0.12 5,535,335,070 73.70% 68,979,284
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Stewart
Gilliland as
9 a Director 5,412,760,790 96.62 189,207,412 3.38 5,601,968,202 74.59% 2,348,609
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Byron Grote
10 as a Director 5,188,802,296 92.62 413,188,604 7.38 5,601,990,900 74.59% 2,325,240
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Ken Murphy as
11 a Director 5,599,871,230 99.96 2,173,302 0.04 5,602,044,532 74.59% 2,278,676
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Imran Nawaz
12 as a Director 5,582,314,438 99.65 19,648,474 0.35 5,601,962,912 74.59% 2,355,404
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Alison Platt
13 as a Director 5,317,636,945 94.92 284,423,088 5.08 5,602,060,033 74.59% 2,256,387
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Lindsey
Pownall as a
14 Director 5,533,818,670 99.97 1,552,344 0.03 5,535,371,014 73.70% 68,943,892
------- -------------- ------ -------------- --------------- ---------------
To re-elect
Karen
Whitworth as
a
15 Director 5,600,596,623 99.97 1,437,727 0.03 5,602,034,350 74.59% 2,276,182
------- -------------- ------ -------------- --------------- ---------------
To reappoint
16 the auditors 5,530,907,538 99.92 4,491,480 0.08 5,535,399,018 73.70% 68,918,053
------- -------------- ------ -------------- --------------- ---------------
To authorise
the Audit
Committee
to determine
the auditors'
17 remuneration 5,598,200,298 99.93 4,034,546 0.07 5,602,234,844 74.59% 2,079,196
------- -------------- ------ -------------- --------------- ---------------
To authorise
political
donations
by the
Company and
its
18 subsidiaries 5,444,793,973 97.18 157,975,046 2.82 5,602,769,019 74.60% 1,546,158
------- -------------- ------ -------------- --------------- ---------------
To authorise
the Directors
to allot
19 shares 4,966,303,301 88.64 636,475,708 11.36 5,602,779,009 74.60% 1,513,220
------- -------------- ------ -------------- --------------- ---------------
To authorise
the Directors
to disapply
pre-emption
20 rights* 5,196,739,007 92.85 400,351,779 7.15 5,597,090,786 74.52% 7,225,206
------- -------------- ------ -------------- --------------- ---------------
To authorise
the Directors
to disapply
pre-emption
rights for
acquisitions
and other
capital
21 investment* 5,046,619,746 90.17 550,470,865 9.83 5,597,090,611 74.52% 7,215,547
------- -------------- ------ -------------- --------------- ---------------
To authorise
the Company
to purchase
its own
22 shares* 5,495,401,729 98.19 101,354,548 1.81 5,596,756,277 74.52% 7,563,767
------- -------------- ------ -------------- --------------- ---------------
To authorise
a 14 day
notice period
for general
23 meetings* 5,263,512,191 93.95 338,775,001 6.05 5,602,287,192 74.59% 2,028,429
------- -------------- ------ -------------- --------------- ---------------
*Special resolutions
While the Board is pleased that all other resolutions were
carried with large majorities, the Board was disappointed with the
level of votes cast against Resolution 7, the re-election of
Bertrand Bodson, which received 70.71% approval.
The Board unanimously supports Bertrand's re-election and
confirms that he continues to make an effective and valuable
contribution to the Board and Corporate Responsibility Committee.
Throughout the year Bertrand has demonstrated his commitment to the
Company and the ability to dedicate sufficient time to his duties,
with 100% attendance record for Board and Committee meetings.
Bertrand continues to bring exceptional leadership and business
expertise, with significant knowledge of digital and technology
matters which deepens and enriches the overall set of skills and
experience available to the Board.
The Nominations and Governance Committee carefully monitors all
directors' external time commitments and would take appropriate
action should concerns be identified that could impact on their
ability to devote sufficient time to their duties at the Company.
The Board believes that all directors, including Bertrand, continue
to devote the required amount of time in discharging their
responsibilities as directors of the Company.
Following the AGM, the Board will continue to engage with
shareholders to discuss any ongoing concerns but we understand that
this was primarily driven by the votes of some shareholders who
applied a more stringent voting policy on directors' external
commitments, despite his exemplary attendance record and the value
he adds to the Board through his expertise and experience.
We will publish an update on our engagement, in accordance with
the UK Corporate Governance Code, within six months of the 2022
AGM.
Notes
Results of the poll can also be viewed on the Company's website:
https://www.tescoplc.com/investors/shareholder-centre/shareholder-meetings/
Please note a 'vote withheld' is not a vote under English law
and is not counted in the calculation of votes 'for' and 'against'
a resolution.
The total number of ordinary shares in issue on 15 June 2022 at
6.30pm was 7,510,821,405. Shareholders are entitled to one vote per
share.
In accordance with Listing Rule 9.6.2 copies of the resolutions
(other than those relating to ordinary business) will be submitted
to the FCA National Storage Mechanism and will shortly be available
for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
Enquiries:
Group Company Secretary Robert Welch +44 (0) 7793 222569
Tesco PLC
Tesco House
Shire Park
Kestrel Way
Welwyn Garden City
Hertfordshire
AL7 1GA
LEI Number: 2138002P5RNKC5W2JZ46
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END
RAGBKOBQPBKDOAD
(END) Dow Jones Newswires
June 17, 2022 11:49 ET (15:49 GMT)
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