Sports Direct International Plc
21 December 2007
21 December 2007
Sports Direct International plc
Re Umbro
Sports Direct International plc announces that it has today sold 29,069,977
ordinary shares of 1p each in Umbro plc ("Umbro") to Nike Vapor Ltd ("Nike"), a
wholly owned subsidiary of Nike Inc., for 193.06p per Umbro share (a total
consideration of £56,122,498), and has entered into an irrevocable undertaking
with Nike to vote in favour of the scheme of arrangement relating to the
acquisition of Umbro by Nike at 193.06p per Umbro share in respect of 14,608,029
shares, being the balance of Sports Direct International plc's shareholding in
Umbro.
The proceeds of sale will be used to reduce borrowings.
Ends
For further information contact:
Sports Direct International
Dave Forsey, Chief Executive T: 0870 333 9400
Bob Mellors, Group Financial Director
Financial Dynamics
Jonathon Brill / Ben Foster / Andrew Dowler T: 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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