- Huw Hughes |
Mike Ashley’s Sports Direct released a new statement on Thursday requesting a meeting of shareholders at Debenhams in a bid to appoint Ashley to the company’s board.
The statement also requested that all current members of the Debenhams board, apart from Rachel Osborne, be removed, and comes as part of an ongoing effort by Ashley to take control of the UK department store.
Earlier in March, Debenhams released a statement saying it would give “careful consideration” to a 150 million pound interest-free loan offered to the company by Sports Direct. The loan would involve the sports retailer getting an additional 5 percent stake in Debenhams, and would require the appointment of Ashley as CEO. If these conditions were met, Sports Direct said the loan would be “guaranteed to be interest-free.” If not, the loan would bear interest at 3 percent.
Mike Ashley currently has a stake of 29.7 percent in Debenhams.