8 Mar 2019 07:05
8 March 2019
Debenhams plc
Statement in response to Sports Direct's requisition notice
The board of Debenhams received notice from Sports Direct last night requisitioning a general meeting of shareholders to propose the appointment of Mr Mike Ashley to the board of directors of Debenhams and the removal of all of the current members of the Debenhams board (other than Rachel Osborne who became a director in September 2018). Any shareholder holding more than 5% of the issued share capital has the right to call a shareholder meeting.
The board has been engaging with Sports Direct and our other stakeholders regarding options to restructure our balance sheet and is disappointed that Sports Direct has taken this action. In the meantime, discussions to address our future funding requirements are well advanced.
ENDS
Enquiries:
Brunswick Group Tim Danaher/Craig Breheny/Fiona Micallef-Eynaud
020 7404 5959
debenhams@brunswickgroup.com