Large institutional shareholders may consider a call to change UK listing rules to counter governance failings seen at Sports Direct.
Institutional investors may be preparing to call for a change in listing rules prompted by disappointment in the way Sports Direct has handled corporate governance, according to The Times.
The paper reports that investors may ask for a reform in the qualification for a listing from 25% of freely traded shares to 50%. The change would bring a halt to companies being controlled by a single large shareholder, such as Sports Direct chief executive Mike Ashley.
Ashley has resisted the appointment of an independent chairman
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