JJB.L Regulatory News (JJB)

13 Jan 2009 16:35



JJB Sports plc - Director/PDMR Shareholding and Notification of Major Interests

JJB Sports plc (the "Company") announces that its Chief Executive, Chris Ronnie, has today notified the Company pursuant to DTR 3.1.2R and 5.1.2R that Guro Leisure Limited (formerly known as Hallco 1480 Limited), a company in which he holds 50 per cent of the issued share capital, has disposed of the legal and beneficial ownership of 68,992,948 ordinary shares of 5 pence each in the share capital of the Company (the "Shares") (representing approximately 27.5% of the current total voting rights attaching to the ordinary shares in issue). Mr Ronnie acquired an interest in the Company's ordinary shares in June 2007 following the purchase by Hallco 1480 Limited of the Shares. Mr Ronnie has informed the Company that the disposal has been made pursuant to the terms of a Global Master Repurchase Agreement and Facility Letter dated 8 June 2007 entered into with Kaupthing Singer & Friedlander Limited ("KSF") (the "Loan Documents"). Mr Ronnie has also informed the Company that he is not aware of the date or place of the relevant transaction or of the price per share in respect of the transaction, but that he understands that the legal and beneficial ownership of the Shares and accordingly the voting rights attaching to the same were transferred pursuant to the Loan Documents.

The Company has also been notified today by Kaupthing Singer & Friedlander (Isle of Man) Limited (in liquidation provisionally) ("KSFIOM"), pursuant to DTR 5.1.2R, that it holds a direct interest in the voting rights attaching to 58,470,543 ordinary shares of 5 pence each in the share capital of the Company (representing approximately 23.3% of the total voting rights attaching to the ordinary shares in issue). KSFIOM have informed the Company that this interest was acquired during 2008, but they are yet to confirm the exact date of the relevant transaction.

Separately, in connection with the Company's own investigation into major interests in the Company's shares, the administrators of KSF have informed the Company that KSF holds the legal and beneficial title to 7,072,405 ordinary shares of 5 pence each in the share capital of the Company (representing approximately 2.8% of the total voting rights attaching to the ordinary shares in issue) and that, as far as the administrators of KSF are aware, the voting rights attaching to these shares are under the control of KSF. The administrators of KSF have also informed the Company that KSF no longer holds any interest in a further 3,250,000 ordinary shares of 5 pence each in the share capital of the Company (representing approximately 1.3% of the total voting rights attaching to ordinary shares in issue). As a result of the Company's continuing investigation, the Company believes that, together with the shares previously held by KSF, the shares currently held by KSF comprise the balance of the Shares held by Guro Leisure Limited.

In the light of these disclosures the Board has asked its legal advisers to continue the Company's investigation into this matter.

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