Sports Direct Share Discussion Threads

[the_equaliser] 02/2/2017 12:20

Something smells rotten here !!!!!!!!
SP down 2-3 days ago about 10+p
Then back up quickly
Now FCCN has 11%

[terminated] 02/2/2017 11:29

Did he specifically say those shares were to be cancelled?

[ashbox] 02/2/2017 11:26

Spot on Nortic with FCCN stake

[frogy] 02/2/2017 10:54

Will be interesting to see if the share buy back continues above £3. The 5th January resumption RNS stated the maximum total number of shares to be repurchased and a value that implied an average price of £3 but that doesn't stop them buying above this price, possibly to give an average of £3. Interestingly all share purchases to-date have been below and sometimes well below £3 giving some flexibility at the £3 level. Given an announcement from the company that all the shares repurchased to date and currently held in Treasury (approx 58 million with a target of 89 million) are to be cancelled (as indicated in the RNS) it could potentially result in an immediate increase in the price of the remaining shares in issues by 10-15% or 30p - 45p at today's share price. Just a thought!

[smicker] 02/2/2017 10:02

Any source for the French Connection rumour

[terminated] 02/2/2017 10:01

What is the point in taking stakes in other companies? Unless their is some kind of strategic partnership it will just tie up cash. What can french connection bring to spd?

[nortic 007] 02/2/2017 09:37

SeballI don't know if that's achievable but itwould put a smile on a few punters faces including mine :)

[seball] 02/2/2017 09:30

300p broken next stop 320p then onto 350p in next 6 months imo

[nortic 007] 02/2/2017 09:26

I notice FC are only capped at 35m and from what I've read it's not a company you would pay a premium for. Pocket change .

[nortic 007] 02/2/2017 09:09

Not sure sir. This is all talk from the city.

[swampydrill] 02/2/2017 08:49

Is the rumour that Ashley might take a stake in FC or that SPD might take a stake ?

[nortic 007] 02/2/2017 07:41

Just spotted that 5.3m reported last night at 292.3 . There's also a story going round that Ashley might be taking a stake in French Connection.

[nortic 007] 02/2/2017 07:24

The dollars also quite weak at the moment.... read into that as you may.

[nortic 007] 02/2/2017 07:19

You would think an RNS is due ?

[nortic 007] 02/2/2017 07:09

I believe this came out 7 hours ago.

[the_equaliser] 01/2/2017 20:55

Nortic

And your goodself sir

[nortic 007] 01/2/2017 20:41

Equaliser Very true sir.MA has certainly had to put a few out :)Pleasant evening.

[the_equaliser] 01/2/2017 20:37

Nortic,

No smoke without fire !!!!!

[nortic 007] 01/2/2017 20:35

That article could have been 6 or 7 paragraphs shorter but the press love to get stuck in.

[nortic 007] 01/2/2017 20:06

As long as Standard Life practice what they preach I've not got a problem.

[nortic 007] 01/2/2017 20:03

Standard Life ramps up pressure on Sports Direct Sports DirectStandard Life has ramped up its criticism of corporate governance at Mike Ashley's Sports DirectBritish companies have been warned they face a new "shareholder spring" as one of the City's largest institutions has announced that it is ready to rebel against excessive pay rises.Standard Life has said that it will also make a "considered contribution" to the Government's consultation on boardroom pay following Theresa May's promise of putting a crackdown at the heart of her economic reform agenda. Standard Life has also rounded on Sports Direct for its persistent lack of corporate governance and failure to address executive pay.Standard Life Investments said in its annual stewardship report that it would continue to call for change on issues including the influence of Sports Direct founder, executive chairman and majority shareholder Mike Ashley. "We have been concerned for some time about governance arrangements at Sports Direct," the report said. "The board lacks independence and the non-executive directors lack the appropriate skills and experience to enable robust challenge of the executive team, particularly the founder and major shareholder Mike Ashley.Mike Ashley outside Sports Direct HQ"We have engaged with senior executives and non-executives over many years, to little effect," said Euan Stirling, head of stewardship at Standard Life. "The responses to our enquiries have been either ineffective or non-existent. Our recent engagement with the chairman reinforced our concerns regarding the influence of Mike Ashley and the lack of oversight by the board."Sports Direct suffered a boardroom clearout last year following the abrupt resignation of Mr Ashley's long-term lieutenant Dave Forsey as chief executive and departure of acting finance boss Matt Pearson. The majority of independent investors voted against chairman Keith Hellawell's re-election last year, but Mr Hellawell was saved by Mr Ashley who used his 55pc stake to support him. During last year's annual meeting in September Mr Hellawell said that, if investors felt the same last year, he would resign. However,in a stock exchange announcement last month, Mr Ashley said he hoped Mr Hellawell would "reconsider his intention". Standard Life joined the Investor Forum last year which took the unprecedented step of campaigning publicly for greater disclosure and an independent review into corporate governance at Sports Direct.Sports Direct's Mike Ashley initially agreed to an independent review but investors' hopes of a change in direction were dashed when the sportswear giant said last month that it would be using its own lawfirm, RPC, to carry out the review. The Investor Forum has previously said it did not believe RPC was adequately independent. Sports Direct last month also cut its ties with long-term brokers Goldman Sachs, Citi and Haitong and replaced the trio with a much smaller outfit, Liberum, as its sole broker.

[nortic 007] 01/2/2017 16:38

Lumpy cross and high of the day.Little bit more of that would be nice.

[the_equaliser] 01/2/2017 16:26

Bummer
was right in the first place
lols