Director Share Allotment

RNS Number : 7412J

Sports Direct International Plc

06 April 2010

 



6 April 2010

SPORTS DIRECT INTERNATIONAL plc

Director Share Allotment

Sports Direct International Plc ("the Company") announces that on 3 April 2010, 50,000 Ordinary shares of 10 pence ("Shares") each in the Company were allotted to Keith Hellawell, its non-executive Chairman. Dr Hellawell paid £5,000 for the allotment.

As part of his remuneration package, which is a composite package of cash (£155,000 per annum) and Shares, Dr Hellawell has the option to acquire at nominal value up to 50,000 Shares during the 2009/10 financial year.  He also has the option of acquiring a further 50,000 Shares during the 2010/11 financial year, which must be exercised within fourteen days of the announcement of the Company's final results for the preceding year. Thereafter the number of Shares he has the option to acquire will be determined by the Board Remuneration Committee. 

The difference between the market price and the nominal value of the Shares is part of his remuneration package. Any tax and employee national insurance liabilities that arise as a result of this transaction will be met by Dr Hellawell either from his own resources or by the sale of sufficient Shares to meet those liabilities. Subject to the possible sale of Shares to meet those tax and employee national insurance liabilities, Dr Hellawell is obliged to retain the Shares whilst he is a member of the Board of the Company.

The Shares allotted represent 0.009% of the total shares in issue in the Company.  The market value of the Shares at the close of business on 1 April 2010 was 110 pence per share.

Following the allotment of the 50,000 shares, Dr Hellawell currently holds 50,000 shares.

Enquiries:

Sports Direct International plc Michael Oliver, Company Secretary,	0870 838 7371
Financial Dynamics Jonathon Brill / Caroline Stewart / Alex Beagley	020 7831 3113

 

END

 

 

RDSSSIFFMFSSESL