20 Oct 2008 07:00
20 October 2008
SPORTS DIRECT INTERNATIONAL plc
This announcement is made pursuant to Listing Rule LR 10.4.1.
Sports Direct International plc ("the Company") announces that it subscribed on 17 October 2008 for 11,944,360 ordinary shares of 5 pence each in JJB plc at a price of 28.5 pence each, in cash. The total consideration payable in respect of the subscription was £3,404,143.
The Company also holds long-only contracts for difference in respect of 42,897,806 JJB plc ordinary shares at an average price of 29.05 pence per share. The Company's maximum exposure under these contracts for difference is £12,460,955.
These strategic investments are consistent with the Board's policy of making and retaining strategic investments where, and for so long as, the Board believes the investment provides the Company with the opportunity to gain a strategic or commercial advantage.
Enquiries:
Jonathon Brill / Billy Clegg / Caroline Stewart T: 020 7831 3113