Sports Direct has announced a new share buyback that will return up to £15m to shareholders, while launching a further broadside at the directors of Debenhams.
The buyback equates to just under 1% of the total number of shares outstanding in Sports Direct and follows a larger £100m buyback launched by the company early last year.
The move means that founder and chief executive Mike Ashley, who already owns 61% of the company, will marginally boost his control. Sports Direct has engaged Liberum Capital to conduct the buyback on its behalf.
