JD Sports Fashion Plc Response to Media Reports (5746R)
08 Noviembre 2021 - 1:00AM
UK Regulatory
TIDMJD.
RNS Number : 5746R
JD Sports Fashion Plc
08 November 2021
8 November 2021
JD Sports Fashion Plc
Response to Media Reports
The Board of JD Sports Fashion Plc ("JD") notes the contents of
articles published over the weekend in The Sunday Times. For the
sake of balance, the Board feels that the following responses are
relevant and important to note:
-- Peter Cowgill has known Barry Bown on a business and personal
basis for over 25 years. As a result, it is not unusual, or in any
way suspicious or illegitimate, for them to meet from time to time,
including in relation to the ongoing review by the Competition and
Markets Authority ("CMA") of JD's acquisition of Footasylum Limited
("Footasylum"). The Sunday Times omitted to report on the positive
obligation that JD has under the terms of the Interim Enforcement
Order ("Order") to take all reasonable steps to encourage key staff
of the Footasylum business (which includes Barry Bown) to remain
with the business.
-- The CMA has already been fully apprised of the content of the
meeting on 5(th) July 2021 and the reasons for it and JD firmly
believes that its actions in participating in this meeting do not
amount to wrongdoing or a breach of the Order and does not see how
it would be reasonable to accuse JD of such.
-- It is disappointing that the Sunday Times has not reported in
a more balanced way on the highly irregular and potentially illegal
covert surveillance undertaken by a third party for their own
interests. JD hopes that a regulator, tasked with acting in the
wider public interest, is able to more critically regard the
actions of the third party for what they are.
-- Any suggestions with regard to Corporate Governance breaches
are totally refuted. JD's stakeholders are very aware that the
Chairman and the Board treat governance matters extremely seriously
and with the utmost transparency. As demonstrated at the recent
Capital Markets Event for investors, the success of the business is
underpinned by its core values and integrity.
-- The Board has previously committed to divide the roles of
Chairman and Chief Executive before the next Annual General Meeting
and we can confirm that this process is progressing with a view to
optimising the outcome for all stakeholders. Strengthening of the
Board is also well advanced with one new independent Non-Executive
Director appointed in September 2021 and the appointment of a
further independent Non-Executive Director imminent.
Enquiries:
JD Sports Fashion plc Tel: 0161 767 1000
Peter Cowgill, Executive Chairman
Neil Greenhalgh, Chief Financial Officer
Jennifer Iveson, Investor Relations
MHP Communications Tel: 0203 128 8193
Andrew Jaques
Peter Hewer
Charles Hirst
Catherine Chapman
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END
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