8th Apr 2014 09:25
LONDON (Alliance News) - Sports Direct International PLC said Tuesday that MASH Holdings Limited, wholly owned by founder and deputy Chairman, Mike Ashley, had disposed of 24 million ordinary shares, representing a 4% holding in the firm.
The firm said MASH, Ashley's investment vehicle, disposed of 24 million ordinary shares - 4.0% of the issued share capital of Sports Direct - of 10 pence each in the share capital of the company on Monday. The shares were sold at 850 pence per share, resulting in a transaction worth GBP204 million.
Following this disposal, MASH Holdings Limited holds 345.4 million ordinary shares with full voting rights, representing 57.7% of the issued ordinary share capital of the Sports Direct.
As reported Monday, the UK's biggest sporting goods retailer by revenue, has bought an 11% stake in House of Fraser, a person familiar with the situation told Alliance News, injecting itself into the agreed takeover of the British high street retail chain by Chinese conglomerate Sanpower Group Co Ltd. The firm is yet to formally announce the deal.
Shares in Sports Direct dropped to the bottom of the FTSE 100 in early trading, now 6.56% lower at 834.89 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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