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Sports Direct’s investors mull new rules for ‘dominant shareholders’

Sports Direct’s investors are considering new rules to prevent dominant shareholders flouting boardroom standards, it has been reported.

The Sunday Times said one option up for consideration is increasing the minimum proportion of a company’s shares that must be freely held to qualify for a premium listing, from 25% to 50%.

Another is introducing voting restrictions so that only independent shareholders can vote on the re-election of a chairman.

It comes as Sports Direct has abandoned its promise to find an independent chairman to lead a review into its governance, the newspaper reported.

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