Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Blacks to postpone fundraiser meeting

Blacks Leisure, the outdoor specialist, is expected to postpone its general meeting today to continue negotiations with rival sportswear retailer Sports Direct which plans to block Blacks’ proposed fundraising.

On Monday a wholly owned subsidiary of Sports Direct, Sportsdirect.com Retail, bought a 29% stake in Blacks from the administrators of Icelandic bank Kaupthing and said it would vote against Black’s £20m fundraising plans, key to its future growth.

Blacks said today that it is discussing the issue with Sports Direct but there was “no guarantee that these discussions will reach a successful conclusion”.

Shareholder approval is being sought to postpone the meeting for an indefinite period so that Blacks can continue its discussions with Sports Direct.

Sports Direct told Blacks that the it intends to vote in favour of the motion to adjourn the general meting.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.