Sports Direct shareholders veto payment to brother of founder Mike Ashley

Sports Direct shareholders veto payment to brother of founder Mike Ashley
LONDON, Dec 13 (Reuters) - Independent shareholders in Sports Direct on Wednesday voted against paying the brother of founder Mike Ashley 11 million pounds ($14.7 million) for work as an IT expert.

Sports Direct said last month a report by law firm RPC had found that John Ashley was entitled to the money for his work since Sports Direct floated in 2007. It asked independent shareholders to vote on the matter.

At a meeting, held at Sports Direct's headquarters in Shirebrook, central England, 71 percent of independent shareholders voted against the resolution.

"The board respects the views of the company's independent shareholders, and considers all these matters to be closed. We now intend to move on," Sports Direct said. ($1 = 0.7493 pounds) (Reporting by James Davey; editing by Paul Sandle)

2017-12-13 15:02:07

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