Statement regarding Debenhams plc

RNS Number : 5831U

Sports Direct International Plc

01 April 2019

 

Date: 30 March 2019

SPORTS DIRECT INTERNATIONAL PLC

("Sports Direct" or the "Company")

Statement regarding Debenhams plc

Sports Direct has been contacted by a number of other shareholders in Debenhams plc ("Debenhams") regarding the protection of Debenhams shareholders' interests and expressing their support for the appointment of Mr Mike Ashley as Debenhams CEO. Sports Direct is therefore making the template letter set out in the Appendix to this announcement available on Sports Direct's website at https://www.sportsdirectplc.com/media-centre/news-releases-and-press-kit/2019.aspx should any shareholder in Debenhams want to use it to make their views known directly to Debenhams.

Enquiries:

Numis (Financial adviser to Sports Direct)

Luke Bordewich Stuart Ord George Fry

[phone]

 Sports Direct

Cameron Olsen, Company Secretary

[phone]

Further information

Numis Securities Limited ("Numis"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as financial adviser exclusively for Sports Direct and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than Sports Direct for providing the protections afforded to clients of Numis, nor for providing advice in relation to any matter referred to herein.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of any offer to buy, sell, subscribe for any securities or the solicitation of any vote in any jurisdiction.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions.  Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

 

APPENDIX

[ insert date ] 2019

By email only to: [e-mail] and [e-mail] 

The Directors

Debenhams plc

10 Brock Street

Regent's Place

London

NW1 3FG

Dear Sirs

Debenhams plc (Debenhams or the Company)

As a concerned shareholder in Debenhams plc, I have watched with increasing concern the board continue to ignore the interests of its shareholders as it has sought new banking facilities from its existing lenders and Noteholders. 

In particular, I was gravely concerned by your statement on 22 March 2019 where you acknowledged that under your current course of action, there was an increasing possibility that the entire equity value for the Company's current shareholders would be wiped out.

I am therefore writing to demand that the Debenhams board takes immediate steps to install Mike Ashley as CEO, as clearly there is no time to wait for a General Meeting to be called in order for this to be effected by shareholders.

Yours faithfully

…………………………………………

[ Type Name ]

Shareholder

 

END

 

 

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