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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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2 Mar 2016 15:23

Premier Energy and Water Trust unveils boardroom changes

(ShareCast News) - Premier Energy and Water Trust has appointed Gillian Nott as a non-executive director with effect from 1 March. In a statement to the London Stock Exchange on Wednesday, the company said Nott would stand for election at its annual general meeting in April. She has over 12 years ex

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18 Feb 2016 15:55

CitySprint wins LDC cash to speed same-day delivery, Dunedin IT to wind down

(ShareCast News) - CitySprint, the same-day delivery company, has completed a secondary buyout that values it at £175m, with owner private equity owner Dunedin selling a stake to Lloyds' private equity arm LDC. CitySprint, which claims to operate the UK's largest privately-owned national delivery ne

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2 Feb 2016 13:50

Torotrak's V-Charge receives a boost

(ShareCast News) - Torotrak's emissions reduction technology received a boost on Tuesday, with some positive test results encouraging its development partner to commit further to the project. The AIM-traded developer and supplier of emissions reduction and fuel efficiency technology for vehicles com

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27 Jan 2016 08:22

Creston issues profit warning as clients draw in horns on economic concerns

(ShareCast News) - Creston has warned that full year profits will be below last year's after several clients delayed or cut project spending due to increasing concerns about trading. As a result, fourth quarter revenues at the marketing communications group will fall "significantly" below management

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22 Jan 2016 15:07

Action Hotels chairman Al-Sabah buys shares from director

(ShareCast News) - Action Hotels founder and chairman, Mubarak Al-Sabah, purchased 1.5m shares in the Middle East and Australian hotel operator at 48p each from development director Rawaf Bourisli. Following the deal, Al-Sabah has 97m shares, or a 65.74% stake in the company, while Bourisli now h

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19 Jan 2016 08:44

Sofa so good for ScS over Christmas

(ShareCast News) - Furniture retailer ScS Group said it expected to deliver annual profits "significantly ahead" of expectations after strong festive trading. Like-for-like order intake for the 25 weeks to 16 January 2016 was up 8.8% on the same period a year before, thanks to continued strong tr

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7 Jan 2016 14:20

JKX Oil notes Ukraine gas production tax cut

(ShareCast News) - JKX Oil & Gas said on Thursday that the Ukraine government has passed legislation to reduce the gas production tax there from 55% to 29%, with effect from 1 January 2016. The oil and gas exploration and production company has been at the forefront of campaigning for the reduction,

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7 Jan 2016 09:40

Record skips lower after large hedging mandate suspended

(ShareCast News) - Shares in Record slumped after the currency manager admitted that a dynamic hedging mandate it was supplying had been suspended pending a potential restructure. The company, which is listed on the FTSE's Fledgling index, said the assets under management equivalent (AuME) attributa

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29 Dec 2015 08:40

Avocet Mining relief at arbitration result

(ShareCast News) - An arbitration hearing has found in favour of Avocet Mining in almost all respects against J&Partners, the company that bought its South East Asian assets in 2011. A verdict has been delivered by the arbitrator that both sides should pay for their own costs and no more. Avocet ha

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17 Dec 2015 11:53

Local Shopping rescue plan continues with property disposals

(ShareCast News) - Local Shopping's rescue plan continued apace on Thursday, as the real estate investment trust updated the market on the last 12 months. The FTSE Fledgling Index-listed property investment firm, which specialises in convenience store units, posted its audited results for the year e

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10 Dec 2015 10:16

Titon Holdings full year profit rises thanks to Korea subsidiary

(ShareCast News) - Titon Holdings posted a rise in pre-tax profit for the year to the end of September as revenue advanced, largely thanks to a solid performance from its subsidiary in Korea. Pre-tax profit came in at £1.9m from £1.3 the previous year, on revenue of £22.3m, up 16%. The group, which

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7 Dec 2015 10:20

Candover Investment completes exit from Stork investment

(ShareCast News) - Candover Investment said private equity manager Arle Capital Partners has reached a deal to sell asset integrity services provider Stork to Fluor Corp for €695m (£498m). The private equity investment trust said the sale, which is expected to be finalised early in 2016, completes i

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30 Nov 2015 09:36

French Connection rallies as it reports strong winter trading

(ShareCast News) - Shares in French Connection surged after the fashion retailer said its performance in winter was better than expected and announced the closure of more stores. In a trading update for the 16-week period ended 21 November, the group said sales of the winter collection have continue

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27 Nov 2015 15:49

Anglesey Mining plunges on uncertain outlook

(ShareCast News) - Shares in Anglesey Mining plunged over 17% on Friday, after the miner warned its medium-term outlook remained unclear. In the six months to the end of September, the group said its pre-tax loss narrowed from £878,908 to £135,949 as an impairment of approximately £700,000 the compa

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27 Nov 2015 08:27

Volex reshuffles board

(ShareCast News) - Nathaniel Rothschild has been appointed as Volex executive chairman, the power and data cabling solutions provider said on Friday. The position of executive chairman was created after the board of non-executive directors deemed the role of chairman and chief executive should be co

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