Frasers Group becomes third largest shareholder

  • Mike Ashley takes consultancy role at Hornby
  • Frasers Group becomes third largest shareholder in Hornby
  • No payment between Hornby and Ashley’s business for his services
  • Hornby hopes Ashley can turn the company’s fortunes around

Mike Ashley, the founder of Frasers Group, has taken on a consultancy role at model train company Hornby. As a consultant, Ashley will provide advice to CEO Olly Raeburn and the wider business. The move comes after Frasers Group acquired over 11 million shares in Hornby, increasing its stake to 8.9%. Despite his involvement, there will be no payment between Hornby and Ashley’s business for his services. Hornby, which recently reported a £5.1 million pre-tax loss in the half-year to September 2023, hopes that Ashley’s expertise will help turn the company’s fortunes around.

Factuality Level: 9
Factuality Justification: The article provides factual information about Mike Ashley’s involvement with Hornby as a consultant, including details about his stake in the company, his role, and the financial situation of Hornby. There are no obvious signs of bias, sensationalism, or inaccuracies in the reporting.
Noise Level: 3
Noise Justification: The article provides relevant information about Mike Ashley advising Hornby as a consultant, his stake in the company, and the company’s financial situation. It stays on topic and supports its claims with specific details. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the financial market as it discusses the involvement of Mike Ashley, the CEO of Frasers Group, in advising Hornby, a model train company.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not describe any extreme event. It primarily focuses on the involvement of Mike Ashley as a consultant for Hornby.

Reported publicly: www.retailsector.co.uk