Retail tycoon Mike Ashley is facing a showdown with shareholders at annual meeting next week – piling yet more pressure on the billionaire as he battles to rescue House of Fraser from administration. US shareholder advisory giant ISS has accused him of ‘continued failures’ as chief executive of Sports Direct and has blasted him over a proposed £5 million payment to his future son-in-law. ISS is also opposed to Keith Hellawell – a former policeman and government drugs tsar who has been in the post since 2009 – continuing as chairman following a string of investor votes against him.
Love Island outfitter Boohoo.com (BOO) eyes sales of £1.5billion within three years as it targets US growth. The Manchester-based fashion retailer has already been targeting the US, Europe and Australia which has lifted sales in the past six months by almost 50%, according to forecasts drawn up by analysts at broker Peel Hunt.
Banknote printer firm De La Rue (DLAR) set for shareholder showdown after losing British blue passport contract bid. Crystal Amber, an activist investment firm which has built up a stake of nearly 5% in De La Rue, is due to meet the company later this month, The Mail on Sunday understands.
Shares in Sage Group (SGE) tumbled after the British tech firm announced that chief executive Stephen Kelly is stepping down. The abrupt departure of the 54-year-old after four years at the firm marks the second scalp for chairman Donald Brydon in less than a year. Brydon is also chairman of the London Stock Exchange where he got rid of chief executive Xavier Rolet last autumn, sparking a public row.
MIDAS: Circle Property (CRC) has identified a sweet spot in the market for office space and it has further to go. Midas verdict: Circle Property is a specialist company run by a know- ledgeable team, who are determined to expand the business and make money for shareholders. At 202p, the stock is a buy.
MIDAS UPDATE: Budget gym chain is in fantastic shape as membership rises 41%. Midas verdict: Doctors and Ministers alike wax lyrical on the importance of keeping fit, but many private gyms are expensive and exclusive. The Gym Group (GYM) aims to be different and the approach is working. Investors who bought in 2015 have done well and may be tempted to sell a few shares. But they should keep most of their stock as this firm has plenty of growth potential.
