Sports Direct Share Discussion Threads

[jackthecat] 14/8/2019 20:25

DOW down 700 now.

Timber here

[topvest] 14/8/2019 18:11

It will need an audit whatever happens. Just easier to get a small firm involved if it’s not listed. Mike Ashley is a law to himself. Still remember his spread-betting days. I don’t hold by the way, just interested...and indirectly hold a few through investment trusts! His last statement was about the biggest two finger salute to everyone and everything I’ve ever seen. Highly entertaining.

[jonwig] 14/8/2019 16:23

This tells you if you need an audit;



So even going private might not be an escape. HMRC are going to love crawling over its accounts once it's fully private (if), and fines for non-compliance will make his life a misery. Any bit-player auditor would also be fined for not doing their job properly.

[pj0077] 14/8/2019 16:06

"A bit of second level thinking. Mike Ashley is either stupid or rather devious. The number of own goals over the last few months, has led to a very low share price. Let's list a few: numerous deals, late results, spurious tax liability, guidance withdrawn for the current year, slagging everyone off, HoF debacle.
Soon the company will have no auditor and he can blame the accountants for having to delist and take full control of his grubby little empire. He can then get an auditor by some corner shop outfit.
All seems rather convenient to me! Thoughts?"


TOPVEST, like any great conspiracy theory, your suggestion does contain some truths.. but it also contains some inaccuracies & an unfounded conclusion.

If MA wanted a lower share price, why would he keep pushing the share price UP with a daily share buy-back?? Instead, he could start re-issuing the shares held in Treasury which WOULD get the price down.

As for the auditor situation sure, the Listing Rules might lead to a temporary suspension if an auditor cant be found in the next four weeks. But then it would be up to the DTI to appoint an auditor. Then the shares would be un-suspended.

The only way MA can delist is by acquiring 70%+ of the company. Maybe he needs to clear the risk of a potential £605million Belgian liability before doing this.

[clocktower] 14/8/2019 15:21

Your lucky, he is still buying back shares if you fear for your investment or the share price might be really in the pits.

[topvest] 14/8/2019 15:00

A bit of second level thinking. Mike Ashley is either stupid or rather devious. The number of own goals over the last few months, has led to a very low share price. Let's list a few: numerous deals, late results, spurious tax liability, guidance withdrawn for the current year, slagging everyone off, HoF debacle.
Soon the company will have no auditor and he can blame the accountants for having to delist and take full control of his grubby little empire. He can then get an auditor by some corner shop outfit.
All seems rather convenient to me! Thoughts?

[spob] 14/8/2019 13:18

thought so

[debsdowner] 14/8/2019 13:15

spob,

You are 100% correct the shares will be suspended without an auditor.

[topvest] 14/8/2019 13:13

Maybe a rather convenient way to get Sports Direct delisted in Mike Ashley's view. He certainly runs Sports Direct as if it's a private company.

[spaceparallax] 14/8/2019 13:03

Very telling RNS - even GT don't want to touch SPD. Speaks volumes, as confirmed by the mkt response. Looks like much more buyback in store to prop up the share price They'll be lucky to be above 2 quid come end of August.

[spob] 14/8/2019 12:52

Stock market LISTING RULES say they DEFINITELY need an auditor

[topvest] 14/8/2019 12:47

I'm not sure they need an auditor at present, albeit they need one pretty quickly as they are already one quarter through the current year. Any handover is going to be a problem the longer this goes on. Expect a big delay on signing-off the FY20 accounts. GT have left Sports Direct in deep trouble, but they knew it was coming I guess. You can't blame GT as why take the risk auditing this out of control group with a "crazy man" at the helm. They are now reliant on their enemies in Government finding them an auditor. You couldn't make it up.

[spob] 14/8/2019 12:42

perhaps Muddy Waters should take a look at this

LOL

[ignoble] 14/8/2019 12:41

So, I suppose, will Ashley

Wonder what the possible implications of that may be?

[debsdowner] 14/8/2019 12:31

Spob,

You could well be right the company cannot carry on without an auditor and the company may have to suspend the shares with no auditor and that is why SPD looking to government clarification!

The other posters questions mostly related, things don't look at all good and it smells to me of a lot of "creative accountancy" been going on which could throw up some very nasty surprises.

So to answer spobs question directly its a "yes" the shares will I believe need to be suspended if the company has no auditor this is grim!

Sell now imo otherwise you will be locked out if shares are suspended!

[useless23] 14/8/2019 11:29

And buy a lot more pans lol

[tony1974] 14/8/2019 11:07

More money from the NUFC coffers.. one day the son in law will be 'given' NUFC, to continue the good work of Mr Ashley...!

[philanderer] 14/8/2019 10:56

Sports Direct boss Mike Ashley's son-in-law scoops another £5million for 'property consulting services'

[smcni1968] 14/8/2019 10:55

Patel & Co Accountants are about to have to start hiring

[spob] 14/8/2019 10:44

nobody answered my question


If no new auditor at agm then shares suspended

then if no new auditor within one month shareholders are wiped out

YES or NO ?

[spob] 14/8/2019 10:40

I can sign a piece of paper once a year for a few mil

[2magpies] 14/8/2019 10:35

"Sports Direct announces that on 13 August 2019 it purchased 205,952 of its ordinary shares from Liberum Capital Limited (acting as the Company's broker) on the London Stock Exchange at an average price of 235.83"

At the moment,therefore they are down approx £53,000 already!

Amazing that a Billion £ outfit can't find an auditor!