Sports Direct International (SDI) has confirmed that Mike Ashley reduced his stake in the company from 68.6 percent to 64.4 percent. He previously owned up to 71 percent of the company that he founded, but his stake was diluted because of employee bonus schemes. Ashley reportedly sold the shares at 400 pence per share, which earned him about £100 million (€114m-$149m). The move initially caused some unease on the stock market, but it was also welcomed by some investors as a means to increase the liquidity in SDI's stock, which was launched on the stock market in 2007. The shares were formally sold by MASH Holdings, which is entirely owned by Ashley.