NoQuestionMarks
02 Jun 2017
Re: Share Buy Back Here's the 5th Jan update.£259m or 86.3m shares whichever comes first.SHARE BUYBACK PROGRAMME UPDATE Further to the announcement made by the Company on 8 December 2016, the Company announces that it intends to recommence its share buyback programme from today's date for the period up to and including the Company's annual general meeting on 6 September 2017 (the "Programme"
. The maximum number of shares that may be purchased under the Programme will be 86,324,793 ordinary shares, being the maximum number of shares that may be purchased under the authority granted to the Company by shareholders at the Company's annual general meeting on 7 September 2016 less the total number of shares purchased under that authority to date. The aggregate purchase price of all shares acquired under the Programme will be no greater than £258,974,379. The purpose of the Programme is to reduce the share capital of the Company. The Programme will be conducted within certain pre-set parameters, and in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The shares repurchased by the Company will be held in treasury pending cancellation
NoQuestionMarks
02 Jun 2017
Re: Share Buy Back Hi Bushwacker, here's the rns from 28 April, as you can see we are buying back shares now under the 'closed period programme' banner, £164m worth!RNS of 5th Jan explains more. Further to the announcement made by the Company on 5 January 2017, the Company announces that it has instructed Citigroup Global Markets Limited in relation to an irrevocable, non-discretionary share buyback programme to purchase the Company's shares during the forthcoming closed period, which commences on 30 April 2017 and will end on 20 July 2017 (the "Closed Period Programme". The maximum number of shares that may be purchased under the Closed Period Programme will be 54,495,913 ordinary shares and the aggregate purchase price of all shares acquired under the Closed Period Programme will be no greater than £163,487,739. For the avoidance of doubt, the total number of shares purchased under the Closed Period Programme and the aggregate price paid for those shares will be counted towards the limits for the ongoing share buyback programme as set out in the Company's 5 January 2017 announcement. The purpose of the Closed Period Programme is to reduce the share capital of the Company. The Closed Period Programme will be conducted within certain pre-set parameters, and in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The shares repurchased by the Company will be held in treasury pending cancellation or re-issue. Ends.
bushwhacker
01 Jun 2017
Share Buy Back Back in September 2016 Sports Direct announced a 5% share buyback or £90 million whichever is first.Before this announcement there was 596,319,702 shares in issue (treasury shares excluded)44,282,667 shares were in treasuryAfter yesterdays transaction in own shares purchase there was 556,113,356 shares in issue (treasury shares excluded)84,489,013 shares in issueTherefore by my simple maths Sports Direct have purchased approximately 40 million shares.This is around 7 % of the original amount of shares and given an average price since September of lets say £2.90 gives a total cost of £120 millionHas the share purchase been extended and what is the new limit?
claude reins
27 Apr 2017
Re: strike 1 My points were not just about bad luck, but that these matters will take up his time, almost inevitably. I dont think he has a good enough team to be able to get on with the business 'in his absence'. Its not his style.I think the second issue is very pertinent to the continuing business. We are talking here about a company on which his whole logisitics service is extremely dependent. That is the system he has set up, and here we have half of his logistics set up failing as a business. That cant continue without repercussions on the busines of SPD. Again he has selected a family owned business, and clearly not a very effective one. Perhaps he needs the really professional skills of a company like Staffline. HQ not far away form his warehouse - Staffline HQ in north Nottingham, almost within spitting distance!
Radaking
27 Apr 2017
strike 1 Bad luck cannot go on forever for MA.When this news broke on the hmrc story concerning Newcastle,I was expecting a drop.Then when the recruiting agency going bust a drop looked nailed on.However the sp on SPD has had little or no reaction.This tells me that Mike Ashley has neither to do with either bad story and for now is in the clear.For a man who dose`nt want to be in the headlines,it look`s like he has no choice.............
claude reins
27 Apr 2017
It never rains Mark2 for Mike From another bulletin board. One thing after another. Has pushed me over the edge into a Sell recommendation. Not sure whether it should be Weak or Strong!Transline, who seem to be a major competitor, (£230m turnover, Food & Beverage, Industrial and Driving divisions amongst others) is "close to insolvency"....[link] web site:[link]
claude reins
26 Apr 2017
It never rains but it shines for Mike I see that there have been police raids on West Ham and Newscastle United over tax fraud allegations. No doubt we will hear the worst soon, but it seems that it may involve a lot of clubs. Why Mike's one of the first two? Some people have all the luck. Takes the shine off the promotion.
Radaking
26 Apr 2017
Re: Newcastle promoted.... Should`nt SPD benefit from the promotion with all the tv rights money and exposure?Roll on next season when post match interviews at st james sports direct park will see the logo plastered all over tv screens worldwide (that includes you BBC,suck it up).
NoQuestionMarks
25 Apr 2017
Re: Newcastle promoted.... Fifty stores in the USA for $100m.Selling cheap sports gear to the Americans seems right up Sport Directs street, a huge market with room for us to make an impact, I like it.In the UK, once the Brexit negotiations start I expect a downturn, tightening of household purse strings and a return of footfall to Sports Direct.Selfridges of sports retailers? Not sure about that but if anyone can MA can.I'm a buyer.
claude reins
25 Apr 2017
Newcastle promoted.... ....Mike will be pleased. Let us hope that it improves his mood....and his judgement. Rafa may get a free jug of sangria as well as being able to keep his job.Let us all hope that the last year, annus horribilis as our great Queen Elizabeth would say, can now be put behind us, and this company's SP can start to get back towards its former much higher levels. I for one am sick of seeing the progress made by JD Sports,and at the same time being told that Mike is such a great entrepreneur. At the moment, that last reputation is a thing of the past. You are only as good as your current SP and your last set of results. Now he needs to get down to iproving shareholder value - and that is the wider shareholder population not just his own, and start t treat his investors with more respect. Im sure I cna speak for the PIs in saying that we wish him well in his aspirations to become the Selfridges of sports gear. At the moment, the focus seems to be on the Self, and we need the full deal. We wish him luck.I wish I could say a Buy at this stage, but the best I can do is a Hold. I hope that the recent City experienced NED who joined the Board will be able to add substantially to the financial management of the business.
Radaking
13 Apr 2017
Re: to much of a gulf of difference That's my point Norman Barrington ,are JD really banging that much more gear out than SPD?Sports wear gear appears one fashion accessorie that looks like it never goes out of fashion,decent summer and sporties alike should bolster the SPD price?I am either really wrong on this or in for a payout.If theres a downturn,then SPD should benefit from this as it sells cheaper stuff..................
bushwhacker
13 Apr 2017
Re: illogical Page 14 of the interim results report
claude reins
12 Apr 2017
Re: illogical Thanks for that. Nothing about French Connection 'holding'?PS For future reference, what is your source of this strategic holding information please?
bushwhacker
12 Apr 2017
Re: illogical Strategic investmentsDuring the period the Group disposed of its remaining 9,920,000 shares in JD Sports and on 23 October 2016 held no shares in the company.On 5 May 2016 the maturity date of the Put Option put in place on 23 January 2015 referencing 128,927,113 ordinary shares of Debenhams (10.5% of the share capital of Debenhams plc) was extended by 12 months.The Group no longer holds an economic interest in Dicks Sporting Goods Inc. and continues to hold an economic interest in Iconix Brand Group Inc. of c.12%.The Group continues to hold an interest in Findel plc representing 29.90% of the issued share capital ;MySale Group plc, representing 4.8% of the issued share capital; and,Highland Group Holdings Limited representing 11.11% of the issued share capital.These stakes allow us to develop a relationship and potentially develop commercial partnerships with the relevant party and assist in building relationships with key suppliers and brands.The fair value of equity derivative agreements is included within the derivative financial assets balance of £51.5m and derivative financial liability balance of £206.7m.
Aberdeen_investor
12 Apr 2017
Re: illogical I think they sold out of JD Sports some time ago now
