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Sports Direct Delays FY Results Publication - Quick Facts

Sports Direct International Plc (SDIPF.PK,SPD.L) announced Monday delay in the publication of its preliminary results for the year ended April 28.

The company, which had set the date on July 18, now expects that its audited results will be published between July 26 and August 23.

According to the company, the delay was due to the complexities of the integration of the House of Fraser business in to the company, as well as the current uncertainty as to the future trading performance of this business.

The decision also reflects the increased regulatory scrutiny of auditors and audits including the FRC review of Grant Thornton's audit of the financial statements of Sports Direct for the period.

Following these, the company now needs to compile more information than in previous years for the audit. Grant Thornton has also required additional time to complete its audit work leading to the delay in the publication.

Regarding its deal to acquire GAME Digital plc (GMD.L), Sports Direct said that as on July 12, it owned, had agreed to acquire, or had received valid acceptances in respect of a total of 145.06 million GAME Shares, representing about 83.88 percent of GAME's share capital.

As on July 12, the company received valid acceptances of the offer in respect of a total of 77.83 million GAME Shares, representing approximately 45 percent. of GAME's share capital.

Sports Direct holds 66.57 million GAME Shares, or about 38.49 percent of GAME capital.

On July 9, Sports Direct said the offer has been declared unconditional and that it would remain open for acceptance until July 30.

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