Proactiveinvestors United Kingdom Sports Direct International PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Sports Direct International PLC RSS feed en Mon, 17 Jun 2019 09:32:31 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190617070005_14112364/ Mon, 17 Jun 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190617070005_14112364/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190614070003_14110647/ Fri, 14 Jun 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190614070003_14110647/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190613070006_14108988/ Thu, 13 Jun 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190613070006_14108988/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190611070003_14105631/ Tue, 11 Jun 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190611070003_14105631/ <![CDATA[RNS press release - Form 8 (OPD) (Game Digital plc) ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190610171120_14105482/ Mon, 10 Jun 2019 17:11:20 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190610171120_14105482/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190610070004_14103973/ Mon, 10 Jun 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190610070004_14103973/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190607070003_14102300/ Fri, 07 Jun 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190607070003_14102300/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190606110742_14101453/ Thu, 06 Jun 2019 11:07:42 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190606110742_14101453/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190606070005_14100457/ Thu, 06 Jun 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190606070005_14100457/ <![CDATA[RNS press release - Mandatory Offer ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190605171848_14100266/ Wed, 05 Jun 2019 17:18:48 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190605171848_14100266/ <![CDATA[News - Sports Direct launches £52mln takeover offer for GAME Digital ]]> https://www.proactiveinvestors.co.uk/companies/news/221566/sports-direct-launches-52mln-takeover-offer-for-game-digital-221566.html Mike Ashley’s Sports Direct International PLC (LON:SPD) has launched a takeover offer for Game Digital that values the videogame retailer at nearly £52mln.

Sports Direct was forced to make a full takeover offer for GAME Digital after taking its stake in the business to 38.49% from 29.9%.

Shareholders that own more than 30% of a company are required to make an offer for the rest of the shares under UK takeover rules.

READ: Are eSports behind Sports Direct's interest in GAME Digital?

Sports Direct offered 30p per share for GAME, representing a 27.4% premium to the closing price of 23.55p on Tuesday and valuing the business at £51.88mln.

The sports retailer said the offer is final and the price will be not be increased.

"The retail and gaming sectors are fast moving and currently subject to challenging conditions,” Sports Direct said.

"Sports Direct does not believe that, as a standalone business, GAME is able to weather the pressures that it is facing."

In February 2018, GAME agreed to sell half its Belong esports business to Sports Direct for £3.2mln.

Sports Direct, which bought a 25.8% stake in Game Digital in 2017, plans to introduce concessions of the chain in its own stores along with Belong-branded gaming “arenas” where people can play computer games.

Sports Direct said on Wednesday: “Sports Direct believes that the offer, in providing GAME with the wider benefit of Sports Direct's operating and other experience and increased support, will secure GAME's future and allow it to navigate these pressures whilst contributing to GAME's long-term sustainability by escalating the evolution of the Belong business and accelerating the next stage of GAME's development.”

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Wed, 05 Jun 2019 14:23:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221566/sports-direct-launches-52mln-takeover-offer-for-game-digital-221566.html
<![CDATA[RNS press release - Final Mandatory Offer for GAME Digital plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190605132919_14099934/ Wed, 05 Jun 2019 13:29:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190605132919_14099934/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190605070005_14098701/ Wed, 05 Jun 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190605070005_14098701/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190604070004_14097002/ Tue, 04 Jun 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190604070004_14097002/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190603070006_14095105/ Mon, 03 Jun 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190603070006_14095105/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190531070003_14093243/ Fri, 31 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190531070003_14093243/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190530070002_14091564/ Thu, 30 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190530070002_14091564/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190529070002_14089890/ Wed, 29 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190529070002_14089890/ <![CDATA[RNS press release - Disposal of Property ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190528070010_14088052/ Tue, 28 May 2019 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190528070010_14088052/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190528070009_14088045/ Tue, 28 May 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190528070009_14088045/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190524070003_14086025/ Fri, 24 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190524070003_14086025/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190523070006_14084373/ Thu, 23 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190523070006_14084373/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190522070002_14082630/ Wed, 22 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190522070002_14082630/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190521070005_14080905/ Tue, 21 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190521070005_14080905/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190520165501_14080716/ Mon, 20 May 2019 16:55:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190520165501_14080716/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190520070016_14079301/ Mon, 20 May 2019 07:00:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190520070016_14079301/ <![CDATA[News - Sports Direct sells 'gulag' Shirebrook warehouse for £120mln ]]> https://www.proactiveinvestors.co.uk/companies/news/220535/sports-direct-sells--gulag--shirebrook-warehouse-for-120mln-220535.html Sports Direct International PLC (LON:SPD) has sold its Shirebrook warehouse in Derbyshire for £120mln in cash as part of a sale and leaseback deal with KWAA Logix Sportivo Limited.

The FTSE 250 sportswear retailer, run by infamous tycoon Mike Ashley, said the deal was expected to complete by 21 June, after which it would sign a 15-year lease on the site and continue to use it as a distribution centre alongside office space and a retail outlet.

The proceeds, meanwhile, would be used for “working capital”.

Shirebrook was the centre of a scandal around Sport Direct’s employment practices in 2015 after an undercover investigation by Guardian reporters unearthed unorthodox and, in some cases, illegal working practices, leading to the warehouse being dubbed ‘the gulag’.

Figures concerning the number of ambulance callouts to other Sports Direct warehouses and those of online retailer ASOS plc (LON:ASC) in 2016 then led to the national officer of the Unite trade union, Matt Draper, to refer to the sprawling warehouses as “the dark satanic mills of the 21st century”.

In mid-morning trading on Tuesday, Sports Direct shares were 0.7% higher at 283.6p.

--Updates with confirmation of sale and current share price--

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Fri, 17 May 2019 16:04:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220535/sports-direct-sells--gulag--shirebrook-warehouse-for-120mln-220535.html
<![CDATA[RNS press release - Disposal of Property ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190517152641_14078952/ Fri, 17 May 2019 15:26:41 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190517152641_14078952/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190517070002_14077613/ Fri, 17 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190517070002_14077613/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190516070002_14075766/ Thu, 16 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190516070002_14075766/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190515070007_14074022/ Wed, 15 May 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190515070007_14074022/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190514070004_14072376/ Tue, 14 May 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190514070004_14072376/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190513070005_14070642/ Mon, 13 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190513070005_14070642/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190510070003_14069002/ Fri, 10 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190510070003_14069002/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190509070002_14067304/ Thu, 09 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190509070002_14067304/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190508070002_14065602/ Wed, 08 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190508070002_14065602/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190507070007_14063627/ Tue, 07 May 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190507070007_14063627/ <![CDATA[RNS press release - Response to lapsed offer ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503170447_14063233/ Fri, 03 May 2019 17:04:47 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503170447_14063233/ <![CDATA[RNS press release - Lapse of Offer ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503153427_14063094/ Fri, 03 May 2019 15:34:27 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503153427_14063094/ <![CDATA[RNS press release - SECURED PROPERTY DEVELOPMENTS PLC - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/PRNRNS_201905030900PR_NEWS_UKDISCLO_0085/ Fri, 03 May 2019 14:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/PRNRNS_201905030900PR_NEWS_UKDISCLO_0085/ <![CDATA[RNS press release - Form 8.3 - Findel PLC/Sports Direct International ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503122252_14062802/ Fri, 03 May 2019 12:22:52 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503122252_14062802/ <![CDATA[RNS press release - Form 8.5 (EPT/RI) - Findel Plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503120005_14062738/ Fri, 03 May 2019 12:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503120005_14062738/ <![CDATA[News - Sports Direct faces probe from regulators over Debenhams bid ]]> https://www.proactiveinvestors.co.uk/companies/news/219647/sports-direct-faces-probe-from-regulators-over-debenhams-bid-219647.html Sports Direct International PLC (LON:SPD) is reportedly under the regulatory microscope following concerns around its bid for collapsed department store chain Debenhams.

According to The Times, the Financial Conduct Authority (FCA) has raised questions regarding the disclosure of SPD’s potential bid for Debenhams prior to its administration in early April.

READ: Mike Ashley's Sports Direct rules out takeover bid after Debenhams enters administration

The regulator had initially queried the issue ahead of the FTSE 250 retailer’s AGM in September, after which Sports Direct was forced to issue a statement clarifying that it did not intend to make a bid for the department store.

The increased scrutiny also follows a very public dispute between the two companies as Sports Direct’s owner, Mike Ashley, made several attempts to install himself as Debenham’s chief executive to protect his 29% stake in the firm, all of which was wiped out in the administration.

Auditor under pressure

Meanwhile, the Financial Reporting Council (FRC) has also voiced concerns around how SPD’s auditor, Grant Thornton, valued the group’s stake in Debenhams in its most recent set of financial results.

The FRC is questioning whether Sports Direct’s stake in Debenhams should have been classed as giving it significant influence over the business, meaning it should have been valued higher in its accounts.

The inquiry is the second from the watchdog into Grant Thornton’s audit of Sports Direct, having previously said it was looking into the company’s 2016 results after questions were raised over the alleged non-disclosure of payments to a firm owned by Mike Ashley’s brother.

Grant Thornton is also facing regulatory scrutiny over its role as auditor of café chain Patisserie Valerie, which collapsed at the end of last year after unearthing a massive black hole in its accounts, and outsourcer Interserve, which went bust in March.

In early trading on Friday, Sports Direct shares were 0.5% higher at 298.6p.

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Fri, 03 May 2019 08:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219647/sports-direct-faces-probe-from-regulators-over-debenhams-bid-219647.html
<![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503070001_14061700/ Fri, 03 May 2019 07:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190503070001_14061700/ <![CDATA[RNS press release - Form 8.5 (EPT/RI) - Findel Plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190502120001_14061077/ Thu, 02 May 2019 12:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190502120001_14061077/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190502070003_14060187/ Thu, 02 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190502070003_14060187/ <![CDATA[RNS press release - Employee Benefit Trust Purchase of Employee Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190501130713_14059620/ Wed, 01 May 2019 13:07:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190501130713_14059620/ <![CDATA[RNS press release - Form 8.5 (EPT/RI) - Findel plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190501120001_14059484/ Wed, 01 May 2019 12:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190501120001_14059484/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190501070005_14058393/ Wed, 01 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190501070005_14058393/ <![CDATA[RNS press release - No Extension of Offer re: Findel plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190430171916_14058111/ Tue, 30 Apr 2019 17:19:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3495/LSE20190430171916_14058111/