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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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Sports Direct to oppose Goals Soccer Centres board reappointment

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19 Jun 2019 14:41

Goals Soccer rejects Sports Direct's calls for further accounting probe

(Sharecast News) - Five-a-side football pitch operator Goals Soccer Centres responded on Wednesday after Sports Direct demanded that the company hire a corporate investigator of its choice to look into a series of accounting issues that led to the suspension of its shares.

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5 Jun 2019 17:58

UPDATE: Game Digital Asks Shareholders To Take No Action Over Offer

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5 Jun 2019 14:09

Sports Direct makes ?51.9m offer for Game Digital after upping stake

(Sharecast News) - Mike Ashley's Sports Direct has made a mandatory takeover offer of 30p a share for Game Digital after upping its stake in the video games retailer.

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28 May 2019 11:54

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28 May 2019 08:10

Sports Direct to sell freehold of Shirebrook HQ

(Sharecast News) - Mike Ashley's Sports Direct confirmed on Tuesday that it has agreed to sell the freehold to its Shirebrook headquarters to Kwasa Logix Sportivo for just over £120m in cash.

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17 May 2019 16:00

Sports Direct in advanced talks to sell Shirebrook property

(Sharecast News) - Mike Ashley's Sports Direct said on Friday that it is in advanced talks to sell a freehold property in Shirebrook for just over £12m in cash.

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3 May 2019 16:23

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