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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.

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