Sports Direct investors veto £11m payout to Ashley's brother

From BBC - December 13, 2017

Sports Direct shareholders have rejected a proposed 11m payment to the brother of its founder, Mike Ashley.

The tycoon, who abstained from voting, wanted to give John Ashley the cash as a back payment.

However, the vote was more than 70% against John Ashley receiving the sum.

Sports Direct said: "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."

Investors such as Royal London Asset Management had said they would vote against the plan.


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