25th Nov 2019 17:11
(Alliance News) - Retailer Sports Direct International PLC said on Monday it will hold a general meeting next month to allow shareholders to vote on a proposed name change to Frasers Group PLC.
"The board believes that the change of name of the company from Sports Direct International PLC to Frasers Group PLC is reflective of the business strategy of the company to elevate its retail proposition across all channels and demonstrates the transformation of the company over recent years into the holder of a diversified portfolio of sports, fitness, fashion and lifestyle fascias," the company said in its notice of a general meeting.
The general meeting will be held on December 16.
Sports Direct rescued department store chain House of Fraser in August 2018, buying it out of administration for GBP90.0 million, which the company at the time described as a "massive opportunity".
The FTSE 250 constituent has also snapped up clothing retailer Jack Wills for GBP12.8 million and bike retailer Evans Cycles for GBP8.0 million.
Shares in Sports Direct closed up 1.1% at 340.20 pence in London on Monday.
By Lucy Heming; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Sports Direct