logo
Plus   Neg
Share
Email

Sports Direct Asks Goals To Agree To Appoint Kroll As Independent Investigator

Sports Direct International Plc (SDIPF.PK,SPD.L), which is a substantial shareholder in Goals Soccer Centres PLC (GOAL.L), on Friday issued a statement responding to an announcement made by the five-a-side football pitch operator.

The sportswear and equipment retailer said its understanding is that Goals is yet to appoint independent advisers to assist it in examining its historical treatment of VAT as well as its ongoing discussions with HMRC. The company insisted the Goals Board to agree to Kroll's appointment to do an independent report.

Sports Direct further said that in light of the lack of transparency by the Goals Board and the resulting loss of confidence, the company plans to vote against the reappointment of the whole of Goals Board at its AGM on June 28.

Recently, Sports Direct had sent a letter to the board of Goals requesting the appointment of Kroll after Goals admitted irregularities in its accounting. However, Goals rejected the request, noting that it had appointed third parties for the independent investigation.

In its statement, Sports Direct said its request to appoint Kroll to do an independent report was not a request for the Board to appoint Kroll. Rather, it was a request for the Board to allow the investigation to take place, with all of the costs incurred in connection with the Kroll report being borne by Sports Direct.

The company said it would also propose to make the Kroll report available to all shareholders.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Salesforce.com Inc. (CRM) slipped nearly 3% in after-hours trading Tuesday. The cloud-based enterprise software marker reported a fourth-quarter profit that trumped Wall Street estimates as did its revenues. However, the company announced that its co-Chief Executive Keith Block is stepping... Home Depot Inc. (HD) on Tuesday reported 5.8 percent increase in fourth-quarter profit, while Macy's Inc. (M) fourth-quarter profit fell 54.1 percent. However, the results of the companies beat analysts' estimates. The retailers have reaffirmed their annual outlook. Healthcare insurer Aetna, a subsidiary of CVS Health Corp., announced the launch of Aetna Whole Health in Atlanta, providing fully insured and self-insured health care network options for employers. Aetna said through the program, it will offer the health care network options to its Health Maintenance Organization and Exclusive Product Organization product portfolios.
RELATED NEWS
Follow RTT
>