Last checked at 9 Jan 2017 15:05
Issued by KBA on behalf of Sports Direct for immediate publication
NEWS RELEASE - 9 January 2017
MIKE Ashley today welcomed recent backing by Sports Direct's largest City investor - and responded by vowing to continue to concentrate on long-term goals in order to deliver value to shareholders.
Ashley, Chief Executive and majority shareholder of Sports Direct International plc, was speaking following supportive comments by hedge fund boss Crispin Odey.
Ashley said: "I am grateful for Crispin's recent comments about Sports Direct and I'm glad that we will no doubt continue to have an interesting ride together. I consider his backing to be highly significant at a time when others have been less forthcoming.
"I'm particularly pleased that we are in agreement over the fact that Keith Hellawell is the right man to help deliver further progress. We now intend to concentrate on our medium and long-term goals in order to deliver shareholder value through becoming the 'Selfridges of Sport."
Odey, whose company Odey Asset Management recently increased its holding in Sports Direct to above 5%, was quoted in The Times on Saturday (7 January) as saying: "I'm very happy with him (Ashley): he's a natural winner. From our point of view we always like to find entrepreneurs to back and I am very happy to be buying anything on eight times' earnings, especially when they have a proven track record like Sports Direct."
Odey also confirmed in the interview that he had recently voted in favour of a resolution to re-elect Dr Keith Hellawell as chairman at the company's general meeting last week - and indicated that he will support him at the AGM later this year (2017).
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