Frasers Group Regulatory News (FRAS)

Date: 6 November 2019

SPORTS DIRECT INTERNATIONAL PLC

("Sports Direct" or the "Company")

Media Statement

As reported in the Times and Telegraph today, Sports Direct has issued a statement in response to Rachel Reeves MP's interview in the Times. The full text of the statement is below.

Further to the interview in yesterday's Times by Rachel Reeves MP, it is clear that neither she nor the Select Committee she is so proud of has any intention of doing anything about the disgraceful outcomes for independent shareholders, and other stakeholders, in the Debenhams and Goals Soccer Centre debacles. 

Clearly the publicity was not great enough for her to further her own career and interests, hence she fobbed off Sports Direct's legitimate request to look into these episodes by calling Mike Ashley a bully. 

We strongly urge independent shareholders who were wiped out by the incompetence and dishonesty of management and advisors in the Debenhams and Goals administrations - no doubt including some of her own constituents - to demand Rachel Reeves MP takes action and treats these incidents fairly and in the same way she seems to for those that bring her most glory for her career prospects.

Whilst there continue to be retailers in distress - with the latest example being Mothercare - Sports Direct currently has no intention of looking at saving any of these retailers whilst there is a lack of protection for shareholders/owners, because unscrupulous politicians are more interested in their own PR than doing what is right.

Ends