TIDMTSCO
RNS Number : 9649M
Tesco PLC
14 May 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
FOR IMMEDIATE RELEASE
14 May 2020
Tesco gains shareholder approval for the proposed sale of
its businesses in Thailand and Malaysia
The Board of Tesco is pleased to announce that the resolution
proposed at the General Meeting of Tesco held on 14 May 2020,
seeking approval for the proposed sale of Tesco PLC's ("Tesco" or
"the Company") entire shareholding in Tesco Stores (Thailand)
Limited, Tesco Stores (Malaysia) Sdn Bhd and any respective
subsidiaries (the "Disposal"), as described in the circular to
shareholders dated 22 April 2020 (the "Circular"), was duly passed
by shareholders. Full details of the poll result are set out
below.
Completion of the Disposal remains conditional upon customary
regulatory approvals in Thailand and Malaysia. Completion of the
disposal is expected to take place during the second half of
calendar year 2020.
VOTES % VOTES % VOTES % of VOTES WITHHELD
FOR AGAINST TOTAL ISC VOTED
To approve
the Disposal 7,314,336,691 99.51 36,025,023 0.49 7,350,361,714 75.05% 571,221
-------------- ------ ----------- ----- -------------- ----------- ---------------
Full text of the resolution is set out in the notice of general
meeting forming part of the Circular.
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 or the total number of votes cast.
The total number of Tesco Shares in issue as at 6.30 p.m. on 12
May 2020, being the voting record time, was 9,793,496,561 ordinary
shares. The Company does not hold any ordinary shares in the
capital of the Company in treasury. Therefore, the total voting
rights in the Company as at the voting record time were
9,793,496,561.
In accordance with Listing Rule 9.6.2, a copy of the resolution
passed at the General Meeting will be submitted to the National
Storage Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy of
this announcement, including results of the poll, will also be
displayed shortly on Tesco's website at
http://www.tescoplc.com/GM2020.
Enquiries:
Tesco
Investor Relations: Chris Griffith +44 (0)1707 912 900
Media: Christine Heffernan +44 (0) 1707 918 701
Philip Gawith (Teneo) +44 (0) 207 420 3143
Greenhill & Co. International Goldman Sachs International Barclays Bank PLC
LLP Joint Financial Adviser Joint Financial Adviser,
Joint Financial Adviser Sponsor and Corporate
(020 7774 1000) Broker
(020 7198 7400) * Anthony Gutman
* David Wyles (020 7623 2323)
* Alisdair Gayne
* Milan Hasecic
* Charles Gournay
* Omar Faruqui
* Nick Harper
* Nicola Tennent
Freshfields Bruckhaus Deringer LLP are retained as legal
advisers for Tesco.
Tesco PLC is listed on the London Stock Exchange. More
information can be found at www.tescoplc.com.
Capitalised terms used but not defined in this Announcement have
the same meaning given to them in the Circular.
Cautionary Statement
This Announcement is for information purposes only and does not
constitute or form part of any offer to sell or subscribe for or
any invitation to purchase or subscribe for any securities of the
solicitation of any vote or approval in any jurisdiction pursuant
to the Disposal. This Announcement should not be construed as
investment advice and is not intended to form the basis of any
investment decision. It does not constitute a prospectus or
prospectus equivalent document.
Important Notices Relating to Financial Advisers
Greenhill & Co. International LLP, which is authorised and
regulated by the Financial Conduct Authority in the UK, is acting
exclusively for Tesco and for no one else in connection with the
Disposal and is not, and will not be, responsible to anyone other
than Tesco for providing the protections afforded to its clients
nor for providing advice in relation to the Disposal or any other
matter referred to in this document.
Goldman Sachs International, which is authorised by the
Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority in the
UK, is acting exclusively for Tesco and for no one else in
connection with the Disposal and is not, and will not be,
responsible to anyone other than Tesco for providing the
protections afforded to its clients nor for providing advice in
relation to the Disposal or any other matter referred to in this
document.
Barclays, acting through its investment bank, which is
authorised by the Prudential Regulation Authority and regulated by
the Financial Conduct Authority and the Prudential Regulation
Authority in the UK, is acting exclusively for Tesco and for no one
else in connection with the Disposal and is not, and will not be,
responsible to anyone other than Tesco for providing the
protections afforded to its clients nor for providing advice in
relation to the Disposal or any other matter referred to in this
document.
Incorporation by Reference
Neither the content of Tesco's website (or any other website)
nor any website accessible by hyperlinks on Tesco's website (or any
other website) is incorporated in, or forms part of, this
Announcement.
Tesco's LEI number is 2138002P5RNKC5W2JZ46.
END
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END
ROMFLFVSEFISLII
(END) Dow Jones Newswires
May 14, 2020 10:35 ET (14:35 GMT)
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