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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Debenhams Plc       GB00B126KH97

DEBENHAMS PLC

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Debenhams rejects Ashley's offers to fund rescue in return for CEO job

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04/08/2019 | 11:32am EDT

(Reuters) - Sports Direct said on Monday Debenhams rejected its offer to underwrite a 150 million pound rights issue in exchange for a CEO role for Mike Ashley and a pledge by lenders to write off 148 million pounds of debt.

Sports Direct, controlled by billionaire Ashley, said its preconditional possible offer for Debenhams at 5 pence in cash per ordinary share announced last month was still on the table.

Earlier in the day, Ashley had embarked on a last-ditch battle to take control of Debenhams, accusing board members of dishonesty, while offering to fund a rescue plan in return for the CEO's job.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Arun Koyyur)

Stocks treated in this article : Debenhams Plc, Sports Direct International

Stocks mentioned in the article
ChangeLast1st jan.
MEMBERS CO., LTD. 1.45% 1814 End-of-day quote.-20.33%
NEXT PLC -1.66% 6014 Delayed Quote.-12.60%
SPORTS DIRECT INTERNATIONAL -0.36% 386.8 Delayed Quote.-15.39%
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Managers
NameTitle
Mark Anthony Gifford Chairman
Nicola Kinnaird Independent Non-Executive Director
David Alexander Robertson Adams Independent Non-Executive Director
Stephen Sunnucks Director
Beatrice Madeleine Lafon Non-Executive Director