J SAINSBURY PLC
22 July 1999
J Sainsbury plc - Purchase of own securities
In accordance with Chapter 15 of the Stock Exchange Listing Rules notice is
hereby given that at the Annual General Meeting held on 21 July 1999, the
shareholders of J Sainsbury plc resolved that the Company be generally and
unconditionally authorised to make market purchases (within the meaning of
Section 163(3) of the Companies Act 1985) of ordinary shares of 25p each in
the Company ('ordinary shares') provided that:-
(a) the maximum number of ordinary shares hereby authorised to be
acquired is 191,000,000;
(b) the minimum price which may be paid for any such share is 25p;
(c) the maximum price which may be paid for any such share is an amount
equal to 105% of the average of the middle market quotation for an ordinary
share in the Company as derived from the London Stock Exchange Daily Official
List for the five business days immediately preceding the day on which the
share is contracted to be purchased (exclusive of associated expenses); and
(d) the authority hereby conferred shall expire at the conclusion of the
next Annual General Meeting of the Company or 18 months from the date of
this Resolution, whichever is the earlier; but a contract of purchase may be
made before such expiry which will or may be completed wholly or partly
thereafter and a purchase of shares may be made in pursuance of any such
contract.
Further enquires contact Phil Kershaw 0171 695 6378
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