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An interesting write up of the Sports Direct AGM, via Yahoo Finance: Sports Direct (SPD.L) received an angry reception from major shareholders on Wednesday at a tightly controlled meeting with investors.

Other directors faced smaller rebellions.

9% of voting shareholders rejected Mike Ashley’s reappointment as CEO and 17% of independent shareholders who voted tried to stop David Brayshaw being reappointed as a director.

The discount sports retailer faced a shareholder rebellion at its annual general meeting (AGM) with investors.

“It’s really, really important that when we have issues with companies that we have to invest in because they’re in the index, that they meet with us and address our concerns properly,” Gray said.

“The issue over the way workers are treated at Sports Direct should have been a signal to everybody: there’s a problem here.” Sports Direct was criticised by MPs in 2016 for “appalling working conditions and practices,” after an investigation uncovered workers at its Shirebrook warehouse being paid below minimum wage and penalised for taking breaks, as well as health and safety breaches.

Ahead of the meeting, advisory group Institutional Shareholder Services (ISS) counselled investors to vote against Ashley’s reappointment as CEO.
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