United States

Sports Direct International PLC (SPD.L)

SPD.L on London Stock Exchange

17 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Hermes opposes re-election of Sports Direct chairman at AGM
Tuesday, 5 Sep 2017 03:47am EDT 

Sept 5 (Reuters) - :Hermes Investment Management Calls On Sports Direct <<>> chairman, senior independent director to step down; recommends vote against re-election of both..Hermes flags concerns about lack of face-to-face meetings between company and investors..Also recommends vote against auditor in light of fees for non-audit work being higher than those for audit services..  Full Article

Sports Direct completes sales of Dunlop brand
Monday, 3 Apr 2017 07:41am EDT 

Sports Direct International Plc : Completion of sale of Dunlop brand .Completed sale of its rights to Dunlop brand of Sumitomo Rubber Industries Ltd for $137.5 mln.  Full Article

Sports Direct says Agent Provocateur bought by firm in which it owns 25 pct
Tuesday, 7 Mar 2017 02:00am EST 

Sports Direct International Plc : A number of recent press reports have incorrectly stated that Sports Direct has acquired Agent Provocateur . Agent Provocateur has been acquired by Four (Holdings) Limited, a company in which Sports Direct has a shareholding of 25% . Amount paid for shareholding in Four (Holdings) Limited was £8.75m . We continue to believe devaluation of the Euro against the Dollar will impact on gross margin . Our Euro/Dollar exchange rate is currently hedged at 1.46, which is due to expire at end of FY17 .We currently have no Euro/Dollar hedging in place for FY18.  Full Article

Eastern Outfitters files for chapter 11 bankruptcy
Monday, 6 Feb 2017 12:18am EST 

Court filing: Eastern Outfitters Llc files for chapter 11 bankruptcy protection in Delaware court; lists assets and liabilities in $100-$500 million range - Court filing .Eastern Outfitters and subsidiaries have engaged in substantial negotiations with Sports Direct to serve as stalking horse in a sale process to be conducted - Court filing.  Full Article

UK accounting watchdog concludes investigation of Sports Direct audit
Thursday, 8 Dec 2016 04:25am EST 

Financial Reporting Review Panel: Review panel finding . Findings of financial reporting review panel in respect of accounts of Sports Direct for year ended April 26, 2015 . Has discussed certain issues with company following its review of 2015 annual report and accounts . Noted that there was no discussion of development and performance of company's international stores in its sports retail division . There was no discussion of development and performance of company's international stores in its sports retail division . Principal issue arising related to whether 2015 strategic report complied with companies act 2006 requirement to be balanced and comprehensive .Following corrective action taken by co, FRC regards enquiries arising from its review of co's annual report as concluded.  Full Article

Sports Direct founder says worker's representative to be on board
Tuesday, 6 Sep 2016 01:19pm EDT 

Sports Direct International Plc : Founder Mike Ashley will be making a video statement outlining recommendation post working practices report .Recommends that in future there needs to be a worker's representative appointed to board to represent workers.  Full Article

L&G's fund arm says to vote against Sports Direct board
Thursday, 25 Aug 2016 08:20am EDT 

Sports Direct International Plc : Legal & General Investment Management, the fund arm of insurer Legal & General, says to oppose the re-election of Sports Direct Chairman Keith Hellawell for third consecutive year at firm's Sept. 7 annual general meeting. . To oppose re-election of all non-executive directors. . To support shareholder resolution calling for an independent review of labour practices at firm. .LGIM is the number 11 shareholder in Sports Direct with a 1.02 pct stake on Aug. 1, 2016, according to Thomson Reuters Eikon..  Full Article

Investor Forum calls for independent review of Sports Direct
Thursday, 25 Aug 2016 03:37am EDT 

Investor Forum: Investor forum calls on Sports Direct to commit to a fully independent review of entire governance practices . Recently announced external board evaluation fails to reflect the breadth and magnitude of reform that is required . The narrow benchmarking exercise of employment practices is being carried out by RPC solicitors, who SDI has a pre-existing relationship with, and therefore will not be independent . Recent developments demonstrate continued reluctance on part of board to act in line with views of independent shareholders .Calls to launch independent review of co’s governance framework at agm on Sept. 7, commit to implement the recommendations of that review.  Full Article

Sports Direct International PLC reports 5.5 pct stake in Performance Sports Group
Wednesday, 17 Aug 2016 03:10pm EDT 

: Sports Direct International PLC reports 5.5 pct stake in Performance Sports Group Ltd as of August 15, 2016 - SEC filing Source - http://bit.ly/2byMnnS Further company coverage: [PSG.TO] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Findel board decides against naming Sport Direct's Mike Ashley as chairman
Friday, 29 Jul 2016 02:00am EDT 

Findel Plc :Board has decided not to appoint Mike Ashley as chairman.  Full Article


LPC: Sports Direct launches £700m loan refinancing

LONDON Mike Ashley’s British sporting goods retailer Sports Direct International has launched syndication of a £700m (US$950.67m) plus loan refinancing, a senior loan banker said on Wednesday.