Debenhams plc Response to Sports Direct's requisition notice (2840S)
March 08 2019 - 2:05AM
UK Regulatory
TIDMDEB
RNS Number : 2840S
Debenhams plc
08 March 2019
8 March 2019
Debenhams plc
Statement in response to Sports Direct's requisition notice
The board of Debenhams received notice from Sports Direct last
night requisitioning a general meeting of shareholders to propose
the appointment of Mr Mike Ashley to the board of directors of
Debenhams and the removal of all of the current members of the
Debenhams board (other than Rachel Osborne who became a director in
September 2018). Any shareholder holding more than 5% of the issued
share capital has the right to call a shareholder meeting.
The board has been engaging with Sports Direct and our other
stakeholders regarding options to restructure our balance sheet and
is disappointed that Sports Direct has taken this action. In the
meantime, discussions to address our future funding requirements
are well advanced.
ENDS
Enquiries:
Brunswick Group Tim Danaher/Craig Breheny/Fiona Micallef-Eynaud
020 7404 5959
debenhams@brunswickgroup.com
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END
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