Results of General Meeting

RNS Number : 2530Z

Sports Direct International Plc

13 December 2017

 

13 December 2017

SPORTS DIRECT INTERNATIONAL PLC

("Sports Direct" or the "Company")

Results of General Meeting

Sports Direct announces the result of the poll on the resolutions put at its General Meeting held on Wednesday 13 December 2017 at Unit D, Brook Park East, Shirebrook, NG20 8RY at 11.00am.

	VOTES FOR	%	VOTES AGAINST	%	VOTES TOTAL	% of ISC1 VOTED	VOTES WITHHELD2
To approve the extension of the guaranteed minimum value for eligible employees participating in the Company's share schemes to Karen Byers and Sean Nevitt	41,775,591	34.13	80,615,044	65.87	122,390,635	22.57	368,271
To approve a proposed payment to John Ashley	34,408,900	29.27	83,131,951	70.73	117,540,851	21.68	5,191,673

The Board trusts that shareholders will welcome the steps taken to reassure them that John Ashley did not benefit inappropriately from being the brother of majority shareholder Mike Ashley. In fact, John was actually disadvantaged by approximately £11m after he forewent bonuses that he would have received if he were treated equally to other executives who helped to build the Company (as outlined in our RNS of 24 November 2017).

By voluntarily abstaining from voting on this issue, the Board has provided the Company's independent shareholders the opportunity to determine whether or not to make a retrospective payment to John Ashley. The Board respects the views of the Company's independent shareholders, and considers all these matters to be closed. We now intend to move on. 

Note 1: Issued Share Capital.

                  Note 2: A 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution.

Ends.

Sports Direct International plc Cameron Olsen, Company Secretary	T. 0344 245 9200 E. [e-mail]
KBA PR                                  Keith Bishop	T. 0207 734 9995 E. [e-mail]

 

END

 

 

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