21st Jan 2015 18:29
LONDON (Alliance News) - Mike Ashley's MASH Holdings Ltd has gifted a 50.71% stake in Sports Direct International PLC to MASH Beta Ltd, a subsidiary of the investment vehicle, according to a statement issued late on Wednesday, meaning the entrepreneur still owns a 55.14% stake in the FTSE 100 sports retailer.
The news means that MASH Holdings now holds about 26.5 million shares, a 4.43% stake, in Sports Direct, while MASH Beta holds the remainder of Ashley's stake, some 303.5 million shares.
Earlier on Wednesday, Sports Direct had said that Ashley had sold 15.4 million Sports Direct shares, representing a 2.57% holding, at 720 pence per share, which reduced his stake to its current level.
Sports Direct shares closed down 5.8% at 716.50 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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