Simon Bentley, a non-executive director in Mike Ashley's Sports Direct International, has sold four-fifths of his shareholding.
Bentley raised £213,000 from selling 200,000 shares at 106.55p each. That leaves Bentley with 50,000 shares in the sports goods retailer.
Bentley is a former chairman of outdoor wear retailer Blacks Leisure. Sports Direct recently decided not to bid for Blacks.
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Sports Direct raised its full year profit forecast following an increase in third quarter earnings.
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In December, the group said it expected to achieve full year underlying EBITDA of at least £155m after the £10m charge for the bonus share scheme.
Based on current trading and subject to current exchange rates, Sports Direct is now targeting underlying EBITDA of at least £160m.
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