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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sports Direct International Plc | LSE:SPD | London | Ordinary Share | GB00B1QH8P22 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 470.00 | 469.20 | 469.80 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSPD
RNS Number : 8081S
Sports Direct International Plc
13 March 2019
Date: 13 March 2019
SPORTS DIRECT INTERNATIONAL PLC
("Sports Direct" or the "Company")
STATEMENT REGARDING OFFER OF LOAN TO DEBENHAMS PLC
Sports Direct refers to the announcement of Debenhams plc (Debenhams) to the effect that Debenhams is in negotiations with its current lenders as regards entering into additional facilities of approximately GBP150m, GBP40m of which would be used to refinance the new secured GBP40m bridge facility announced by Debenhams on 12 February 2019.
Sports Direct wishes to confirm that it has made an alternative proposal to Debenhams.
Under Sports Direct's proposal, on or before 31 March 2019:
Sports Direct would make a GBP150m unsecured term loan (of 12 months) to Debenhams. Of the total amount of the lending, GBP40m would be used to repay Debenhams' GBP40m bridge facility with an attendant release of security. The remaining GBP110m would be available for general working capital.
Debenhams would agree to put a proposal to its independent shareholders to approve the issue of circa 5% new shares at the prevailing market price to Sports Direct (so as to increase Sports Direct's shareholding to circa 35%). If the 5% share issue and related "whitewash" was approved by Debenhams' independent shareholders, the GBP150m loan would be guaranteed to be interest-free. If such approvals were not forthcoming, the loan would bear interest at 3%.
Mr Mike Ashley would become a director and the CEO of Debenhams.
-Ends-
Sports Direct International plc T. 0344 245 9200 Cameron Olsen, Company Secretary E. investor.relations@sportsdirect.com LEI: 213800JEGHHEAXIJDX34
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
STRBIGDXCDBBGCX
(END) Dow Jones Newswires
March 13, 2019 14:31 ET (18:31 GMT)
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