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Sports Direct AGM fails to resolve question of audit

Sports Direct International still has no auditor in place. At the company’s AGM, held 11 September 2019, the resolution to re-appoint Grant Thornton UK as auditors, to hold office until the conclusion of the next AGM was withdrawn without any replacement motion as regards auditor being tabled.

A notable ‘protest’vote against the re-election of founder Mike Ashley as a director saw votes accounting for more than 9% of the company cast against him – a significant percentage of the float since Ashley owns 62% of Sports Direct.

The meeting was told that the company is still seeking to appoint a new auditor and is in talks with the big four firms to take on the task.

In a statement, Sports Direct said: "Mike Ashley was re-elected... with over 90% of the vote and the audited accounts for the year ended 28 April 2019 were also approved by over 99% of shareholders."

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