2nd Jan 2020 12:44
(Alliance News) - JD Sports Fashion PLC on Thursday said it will present a new remuneration policy in its April full-year results, after 31% of shareholders rejected the retailer's previous policy at its annual general meeting last July.
The new policy, which JD Sports will unveil in its annual report for the year ending February 1, will follow the company engaging with some of its "major shareholders". It will be put to shareholders for approval at the firm's AGM this coming summer.
JD Sports said: "This engagement will continue during the first quarter of 2020 and it is the board's intention to use the findings from this exercise to assist in the preparation of the company's annual report for the 52-week period to February 1, 2020. The company will formally present a new remuneration policy in its Annual Report this year."
Last July, resolution 6, which is for the re-appointment of Andrew Leslie as non-executive director saw opposition from 18% of shareholders, and 19% voted against resolution 11, which would approve the executive chair special bonus.
Despite the opposition, all resolutions at the meeting were passed.
Shares in the company were 0.1% lower at 836.45 pence each in London on Thursday afternoon.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
JD Sports