Directors join row over Mike Ashley’s Sports Direct bonus July 1, 2014 British directors yesterday slammed Sports Direct’s plans to hand founder Mike Ashley a multimillion-pound share bonus, which this morning is facing a crunch shareholder vote. The Institute of Directors’ rare attack on Sports Direct criticised “weak governance” from the company’s board over the pay plans. But the retailer last night remained confident of passing the [...]
Mike Ashley’s Sports Direct swoops on MySale stock June 18, 2014 Mike Ashley’s Sports Direct yesterday snapped up a 4.8 per cent stake in online fashion site MySale just a day after a pricing error caused shares to tank on its stock market debut. MySale plunged 27 per cent on Tuesday after the share price was listed as 2.26p instead of 226p, leading trading programmes to [...]
Sports Direct investors attack new bonus plan for Mike Ashley June 9, 2014 Sports Direct shareholders lashed out yesterday, claiming they had not been consulted on the latest proposal for a bonus share scheme that seeks to reward its founder Mike Ashley. The retailer has set out plans for a share programme that would reward Ashley alongside Sports Direct’s 3,000 employees, after shareholders rejected two earlier attempts to [...]
Sports Direct launches third attempt for Mike Ashley bonus June 9, 2014 Sports Direct is initiating a third attempt to award founder Mike Ashley a bonus, after two previous attempts failed due to shareholder opposition. The 2015 bonus share scheme provides for the grant of no-cost options of up to 25m ordinary shares in the company to 3,000 employees, including Ashley. The scheme could be worth £200m. However, [...]
Mike Ashley in talks to buy 33 LA Fitness sites May 14, 2014 SPORTS Direct’s billionaire owner Mike Ashley has set his sights on expanding into the health and leisure industry, with plans to buy 33 sites from LA Fitness. The health club chain confirmed yesterday that it was in talks with the Newcastle United football club owner over the 33 sites, which had been put up for [...]
Mike Ashley rumoured to be close to LA Fitness deal May 14, 2014 Sports Direct founder Mike Ashley has moved to take on around 30 LA fitness sites, Sky News' City editor, Mark Kleinman, reports. The exuberant billionaire has agreed to offer a parent company guarantee to LA Fitness landlords regarding leases on the gyms, according to sources. One did say, however, that, despite a deal being imminent, things [...]
Sports Direct criticises investors for rejecting Mike Ashley bonus April 23, 2014 SPORTS Direct yesterday hit out at shareholders for failing to back a bonus share scheme that would have awarded its founder Mike Ashley a £70m windfall, as it posted a rise in fourth quarter sales. The sportswear giant’s board was forced to cancel the plan earlier this month after failing to win enough investor support. [...]
Billionaire Mike Ashley offloads a £218m stake in Sports Direct April 7, 2014 SPORTS Direct founder Mike Ashley is to sell £218m of his majority stake in the retailer in the latest twist in a series of events that saw him snap up a stake in House of Fraser just days ago. Ashley is selling up to 25m shares in Sports Direct through an accelerated bookbuilding run by [...]