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Sports Direct tries again with Debenhams EGM demand

Thu, 21st Mar 2019 10:49

(Sharecast News) - Sports Direct's Mike Ashley has for the second time requisitioned a general meeting of Debenhams as his first effort was declared null and void. The sports retailer was told that its initial attempt on 7 March was invalid as the near-30% shareholding in Debenhams was being held through a third party nominee account.Sports Direct, which also owns the House of Fraser chain, has since transferred the stake to a direct holding and issued a second requisition to appoint Ashley to the board of the department store group and remove all of the current members of the board other than chief financial officer Rachel Osborne.With Debenhams in talks with lenders over a new £150m loan and also looking at larger refinancing and a Company Voluntary Arrangement that would involve the closure of stores and rent reductions at others, Ashley on 14 March Ashley offered an alternative £150m loan, with the proviso that he takes over as chief executive."Sports Direct would like the matter of Debenhams board appointments to be put to the vote of the Debenhams shareholders as soon as possible," the company said in its statement on Thursday.
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14 Aug 2016 17:49

Sunday newspaper round-up: Brexit in 2019, bank regulation, ITV, William Hill

(ShareCast News) - Britain could remain in the EU until late 2019, almost a year later than predicted, ministers have privately warned senior figures in the City of London. Theresa May has been expected to enact article 50 in January, setting in train the formal two years of negotiations before Brex

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9 Aug 2016 14:32

SCS Group says FY results to meet market expectations

(ShareCast News) - Furniture retailer SCS Group said it expects full-year results to be in line with market estimates as it reported a jump in like-for-like sales. In a trading update ahead of its preliminary full-year results in October, the company said it expects to report profits in line with cu

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7 Aug 2016 13:59

Sunday share tips: Johnston Press, IG Design

(ShareCast News) - Sell shares in Johnston Press, was the advice of the Sunday Times' Inside the City column. The publisher, recently added to its stable of local newspaper that ranges from the Burnley Express and the Isle of Man Examiner down to the Crawley Observer and Portsmouth's The News, with

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4 Aug 2016 11:01

Broker tips: Johnston Press, Direct Line, Hikma Pharmaceuticals

(ShareCast News) - Johnston Press shares plunged on Thursday as Numis placed its rating and target price 'under review' after the company swung to a first half loss. For the 26 weeks to 2 July, the company posted a statutory pre-tax loss of £183.7m versus a £2.2m profit the year before, as it booked

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4 Aug 2016 10:00

Numis puts Johnston Press 'under review' after first half results

(ShareCast News) - Johnston Press shares plunged on Thursday as Numis placed its rating and target price 'under review' after the company swung to a first half loss. For the 26 weeks to 2 July, the company posted a statutory pre-tax loss of £183.7m versus a £2.2m profit the year before, as it booked

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4 Aug 2016 09:46

Johnston Press swings to loss in first half

(ShareCast News) - Newspaper publisher Johnston Press swung to a loss in the first half, mainly on the back of an impairment charge. For the 26 weeks to 2 July, the company posted a statutory pre-tax loss of £183.7m versus a £2.2m profit the year before, as it booked a £183.6m non-cash impairment re

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1 Aug 2016 06:43

Monday newspaper round-up: Banks, BoE, Morrison's, BT

(ShareCast News) - Britain's top bank bosses believe an interest rate cut this week is not the best way to boost the economy, arguing instead for alternative options such as investment incentives. Markets are almost certain that the Bank of England will cut its base rate from 0.5pc to 0.25pc this Th

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25 Jul 2016 15:36

Ukraine police still investigating JKX Oil subsidiary

(ShareCast News) - JKX Oil & Gas updated the market on the police investigation into its Ukrainian subsidiary Poltava on Monday, confirming that the investigation remained ongoing. The London-listed firm said Poltava Petroleum Company was still receiving information requests from local police in con

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19 Jul 2016 15:51

Directors dealings: Commercial property firm McKay's boss and finance chief sell shares

(ShareCast News) - McKay Securities's boss, Simon Perkins, and his finance chief Giles Salmon unloaded a raft of shares in the real estate investment trust awarded to them as part of the company's 2007 Mckay performance scheme, on 18 July, the company said in a statement. Perkins sold 127,938 sha

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19 Jul 2016 15:09

Centaur appoints Swag Muckerji as CFO

(ShareCast News) - Centaur Media said it has appointed Swag Mukerji as chief financial officer. Formerly CFO of Safetykleen Group and most recently Polestar Group, Muckerji will start on 29 July 2016. On this date Mark Kerswell, whose resignation was announced on 27 May 2016 will step down from the

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19 Jul 2016 13:22

Treatt receives 'disappointing' result in Earthoil legal battle

(ShareCast News) - Flavour, fragrance and cosmetic ingredients business Treatt revealed what it called a "disappointing" result of an ongoing legal battle on Tuesday, over its purchase of subsidiary Earthoil. It was first announced on 6 December 2012 that the sellers of Earthoil Group, which was acq

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19 Jul 2016 10:54

DRS Data ticks higher after offer from exam marker AQA Education

(ShareCast News) - AQA Education, the organisation that is responsible for setting and marking around half of A-Level and GSCE papers each year, has made a takeover approach for exam and polling data group DRS Data & Research. After a surge in its shares from 8p to 13p since last week, FTSE Fledglin

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8 Jul 2016 11:43

Johnston Press chipper on 'i' newspaper readership

(ShareCast News) - Johnston Press is increasing the readership of 'i' newspaper at a clip ahead of management views, with advertising revenue hitting a fresh high in the week to 29 June. The last week's sales showed daily circulation consistently more than 300,000, peaking at 319,000 on 29 June. In

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4 Jul 2016 12:25

Johnston Press to sell Isle of Man titles for £4.25m

(ShareCast News) - Newspaper publisher Johnston Press has agreed to sell its titles on the Isle of Man to UK-based publisher Tindle Newspapers for £4.25m in cash. The disposal includes the Isle of Man Examiner, Isle of Man Courier, Manx Independent and www.iomtoday.co.im, and will be effected by the

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30 Jun 2016 13:48

Walker Crips' full year profits double

(ShareCast News) - Financial services firm Walker Crips' full year profits more than doubled, although it raised concerns about Brexit uncertainty. The company's pre-tax profit rose to £940,000 in the financial year ending 31 December 2016 from £440,000 in 2015. Walker Crips' revenues rose by 13.5%

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