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Three pension funds plan to block Sports Direct chairman re-election

Fri, 02nd Sep 2016 17:03

(ShareCast News) - Three pension funds are the latest in a round of shareholders who have said they plan to support a trade-union backed motion to call for an independent review of workplace practices at Sports Direct and block the re-election of its chairman.US public pension funds CalPers and CalSTERS and Canada's Ontario Teachers' Pension Plan, three of the world's biggets pension funds, said they will vote against the re-election of chairman Keith Hellawell and founder Mike Ashley in light of the investigation by the Guardian on conditions at its Derby-based warehouse and a damning parliamentary report.The pension funds, which own less than 1% between them, said they will also vote against the reappointment of the auditor Grant Thornton, chief executive Matthew Pearson and non-executive director Simon Bentley, who heads the company's audit committee.The pension funds join Legal and General Investment Management said it would vote against the reappointment of Hellawell and all of the non-executive directors.Aberdeen Asset Management who said it vote against Hellawell, Forsey and Pearson.The funds said they did not regard the review by the company is holding, which is being carried out by law firm RPC, as independent.The sports retailer had come under fire after being exposed last year that workers were being paid less than the minimum wage and after being criticised over its labour conditions. Sports Direct said in July it would back pay staff, which will come to about £1m.Shares in Sports Direct International were up 3.76% to 327.46p at close.
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16 Dec 2019 08:46

LONDON MARKET OPEN: Sports Direct And Cineworld Top And Tail FTSE 250

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16 Dec 2019 08:42

TOP NEWS: Sports Direct Reports Double-Digit Interim Earnings Growth

TOP NEWS: Sports Direct Reports Double-Digit Interim Earnings Growth

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16 Dec 2019 07:55

LIVE MARKETS-On our radar: PMI reality check and Electrolux's warning

Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: julien.ponthus.thomsonreuters.com@...

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16 Dec 2019 07:51

UPDATE 4-Sports Direct renamed Frasers as department store recovery takes shape

* Sees core annual earnings 5 to 15% higher* HY core earnings grow 22% to 181.2 mln stg* Investors approve name change to Frasers Group* Shares jump almost 30% (Adds line on House of Fraser stores)By Sarah YoungLONDON, Dec 16 (Reuters) - Sports Dire...

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16 Dec 2019 07:51

UPDATE 3-Sports Direct changes name to Frasers as House of Fraser recovery takes shape

* Sees core annual earnings 5 to 15% higher* HY core earnings grow 22% to 181.2 mln stg* Investors approve name change to Frasers Group* Shares jump almost 30% (Adds name change, updates shares)By Sarah YoungLONDON, Dec 16 (Reuters) - Sports Direct ...

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16 Dec 2019 07:51

UPDATE 2-Sports Direct confident on growth after green shoots of recovery seen at House of Fraser

* Sees core annual earnings 5 to 15% higher* HY core earnings grow 22% to 181.2 mln stg* Shares jump 18 pct (Adds share price, background, analyst comment)By Sarah YoungLONDON, Dec 16 (Reuters) - Sports Direct, the British retailer controlled by fo...

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16 Dec 2019 07:51

UPDATE 1-Sports Direct says H1 earnings rise as House of Fraser losses improve

(Adds detail, background)LONDON, Dec 16 (Reuters) - Sports Direct, the British sportswear retailer controlled by founder Mike Ashley, reported a 22% rise in first-half core earnings, as it stemmed losses in its premium unit which includes fashion ...

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16 Dec 2019 07:42

LONDON MARKET PRE-OPEN: Cineworld To Buy Cineplex For USD2.1 Billion

LONDON MARKET PRE-OPEN: Cineworld To Buy Cineplex For USD2.1 Billion

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16 Dec 2019 07:18

Sports Direct says H1 earnings rise

LONDON, Dec 16 (Reuters) - Sports Direct, the British sportswear retailer controlled by founder Mike Ashley, reported a 22% rise in first-half core earnings, helped by an improvement in its premium House of Fraser unit and its European retail bus...

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16 Dec 2019 07:09

Sports Direct shares jump on earnings outlook

(Sharecast News) - Sports Direct boss Mike Ashley said on Monday he expected further House of Fraser store closures but shares in the retailer jumped more than 20% as it predicted earnings would rise this year.

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11 Dec 2019 06:44

Sport Direct, WH Smith, Kingfisher's B&Q Rated Low For Online Service

Sport Direct, WH Smith, Kingfisher's B&Q Rated Low For Online Service

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9 Dec 2019 15:47

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

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9 Dec 2019 15:44

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

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25 Nov 2019 17:11

Sports Direct International Proposes Name Change To Frasers Group

Sports Direct International Proposes Name Change To Frasers Group

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25 Nov 2019 16:47

UPDATE 1-Britain's Sports Direct to change name to Frasers Group

(Adds detail)LONDON, Nov 25 (Reuters) - Britain's Sports Direct International, the sporting goods retailer founded and controlled by Mike Ashley, is to rebrand as Frasers Group, it said on Monday.Sports Direct said the rebranding, which is subject...

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