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Sports Direct Nominates Four To Iconix Board

Sports Direct International plc (SDIPF.PK,SPD.L), which holds 9% of Iconix Brand Group, Inc. (ICON), said that it has nominated four individuals - Ron McPherson, Howard Moher, Mark Hunter and Daniel Dienst - for election to the Iconix Board of Directors ) at the Company's 2018 Annual Meeting. This is in line with Sports Direct's commitment to actively participate in its strategic investments.

Sports Direct said "As significant and long-term Iconix stockholders, we have seen first-hand how the numerous operational and strategic decisions initiated by the Company have resulted in severe value destruction for its investors. The Company's (Iconix) stark drop in share price (currently trading at under $0.70), substantial debt load relative to revenues (with more than $800 million in outstanding principal obligations as of Q1 2018) and the loss of major direct-to-retail licensing agreements with major retailers all demonstrate the failures of the current Board and management."

Sports Direct said it can no longer stand by while Iconix's Board and management continue along this unsustainable path. It has nominated four individuals for election as directors.

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