Sports Direct deputy chairman Mike Ashley is planning to send someone to represent him at JJB Sports’ annual general meeting tomorrow to grill chairman David Jones about the controversial £1.5 million loan he took from Ashley.
Ashley and Jones have had a public spat over the timing of the loan, which Ashley claims was made after Jones joined JJB, which has raised the issue of a possible conflict of interest. Both Jones and JJB Sports deny the allegations.
A spokesman for JJB sports told The Daily Telegraph: “As far as we are aware Mike Ashley is not a shareholder and this is a shareholders’ meeting. Unless he is a shareholder he can’t attend. But we are more than happy to take questions on the loan - which David has repaid - from shareholders.”
Jones is expected to detail plans for a rights issue to raise cash to help him reposition the business at tomorrow’s AGM.
Drapersonline.com will publish live updates from the JJB agm tomorrow. Log on to the site from 11am.