- Financial Group Exista and Chris Ronnie Acquire a 29% Stake in JJB Sports plc

Please find the following announcement disclosed to London Stock Exchange today:

A joint venture vehicle formed by Icelandic financial group Exista hf
(“Exista”) and Chris Ronnie has acquired a 29% shareholding in JJB Sports plc
(“JJB”), a UK general retailer of branded sports goods and related products, at
a price of 275 pence per share, valuing the total investment at approximately
₤190 million. The equity interest in the joint venture vehicle is owned equally
between Exista and Chris Ronnie. 

This 29% shareholding has been acquired from the principal founders of the
business, the Whelan family. 
	
In addition, Chris Ronnie will assume the role of Deputy CEO with immediate
effect. 

Chris has over 25 years' experience within the international sports industry
having previously worked with Sports Division, JJB Sports Plc, Umbro
International Limited and SportsWorld International Limited. 

Commenting on his new appointment, investment and relationship with Exista,
Chris Ronnie said: 

“I am delighted to be joining the Board of JJB, a company which I believe has a
very exciting future.  Credit must be given to David Whelan and his family for
the success the company has achieved and building it to its current leading
retail position.  In addition, I look forward to working with Exista, and also
with Kaupthing Singer & Friedlander which has provided finance and facilitated
the transaction.” 

Commenting on Exista's investment, Lýdur Gudmundsson, Executive Chairman said:

“JJB meets our overall investment strategy of investing in an equity story
where it meets our strong criteria of being a cash generative and solid
business model, where we can work with the management to unlock further future
potential.” 

Enquiries:
Chris Ronnie
Tel:+44 (0)7786 910240


Sigurdur Nordal
Group Communications
Exista
Tel:+354 550 8620 
 


About JJB Sports plc
JJB is one of the UK's leading sports retailers. JJB was originally formed in
1971 to acquire the business of a single sports store in Wigan. The original
store was established by JJ Broughton in the early 1900s and was then bought by
JJ Braddock and then JJ Bradburn. When David Whelan bought the store from John
Bradburn he maintained the JJB name. Trading from four stores in 1976, the
store portfolio grew to 120 stores in 1994, at which point the Company was
floated on the London Stock Exchange. 

In 1998 JJB Sports acquired the business of Sports Division, which was JJB's
largest competitor at the time. The acquisition then made JJB the largest
sports retailer in the UK. 

Since 1998, the Sports Division business has been fully integrated within the
JJB group. JJB now operates from approximately 410 stores in all the major
towns and cities of the UK. JJB also has stores in the Republic of Ireland.
JJB's stores are increasingly of a superstore concept, which average 13,000
square feet of selling space and in which full product ranges can be better
displayed. The product ranges include sports textiles, footwear, replica
shirts, equipment, accessories, cycles and golfing products. 

JJB's principal aim is to supply high quality, branded sports and leisure
products to our customers at competitive prices. JJB stocks all of the major
sports brands, as well as brands and product ranges which are exclusive to the
company. JJB caters for active sports participants as well as for customers
simply seeking leisure and casual wear. 

JJB also operates an expanding Fitness Division, which currently comprises
Fitness Clubs and Soccer Domes (indoor soccer centres). JJB provides high
quality fitness facilities at these clubs at very competitive prices and almost
all sites incorporate a first floor on which is situated a retail sports
superstore. The ground floor footprint of a combined fitness club and
superstore is approximately 20,000 square feet and the building is usually
situated on an out-of-town retail park. 

For further information on JJB, please visit the Company website:
www.jjbcorporate.co.uk. 

Ticker: JJB.L


About Exista
Exista hf. is a financial services group with particular focus on insurance and
asset finance. Exista is also a strategic shareholder in several listed and
unlisted companies, including Kaupthing Bank, Sampo Group, Bakkavör Group, and
Iceland Telecom. The Group has operations in Iceland and the United Kingdom.
Exista's total assets amount to 6.7 billion euros and the Group is listed on
the OMX Nordic Exchange. Exista's core market is Northern Europe. 

For further information on Exista, please visit the Company website:
www.exista.com. 

Ticker: EXISTA