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Sports Direct Intl. (SPD)

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Wednesday 16 July, 2014

Sports Direct Intl.

Mike Ashley Withdraws from 2015 Bonus Share Scheme

RNS Number : 4113M
Sports Direct International Plc
16 July 2014
 

16 July 2014

 

Sports Direct International plc

 

Mike Ashley Withdraws from 2015 Bonus Share Scheme

 

Sports Direct International plc ("Sports Direct" or the "Group"), the UK's leading sports retailer, announces that Mike Ashley, Executive Deputy Chairman of Sports Direct, after discussion with the Remuneration Committee, has informed the Board that he does not wish to be awarded any shares under the 2015 Bonus Share Scheme.  This follows the approval of the resolution by a clear majority of independent shareholders on 2 July 2014 to implement the 2015 Bonus Share Scheme. 

 

Mr. Ashley has further informed the Board and Remuneration Committee that while the 2015 Bonus Share Scheme (which relates to the financial period up to April 2019) is in place he does not expect any other share based incentive scheme to be proposed to shareholders in relation to his role as an executive director of Sports Direct. 

 

Keith Hellawell, Non-Executive Chairman of Sports Direct International plc, said:

 

"The resolution passed by shareholders to implement the 2015 Bonus Share Scheme clearly recognises the success of previous company-wide schemes, and the significant contribution from Mike.  On behalf of the entire Board, I should like to thank shareholders for the trust and confidence that they have demonstrated towards the team. Mike remains fully committed to achieving the scheme's stretch targets. Regarding the allocation of shares, Mike's focus is on ensuring that the scheme aligns all employees to achieve the Company's objectives. Following recent unhelpful speculation surrounding his potential allocation, he is determined to ensure that there is the maximum number of shares available for the eligible employees."

 

The Group's Preliminary Results for FY2014 will be announced on 17 July 2014.

 

Sports Direct International plc                                                                                   0845 129 9229

Dave Forsey - Chief Executive

Jeff Blue - Director, Strategic Development

 

Powerscourt                                                                                                                      020 7250 1446

Rory Godson

Victoria Palmer-Moore

Greg Lawless

 

Notes to Editors

 

Sports Direct is the UK's leading sports retailer by revenue and operating profit, with approximately 400 stores across the UK.  The Group provides an unrivalled range of products, offering exceptional quality and unbeatable value, from a wide variety of third-party and Group-owned brands, both in-store and online.  Sports Direct operates approximately 270 stores in 19 European countries, including Belgium, Austria, Slovenia, Portugal and France.

 

The Group has an extensive brand portfolio, comprising 28 internationally recognised sports, fashion and lifestyle brands including Dunlop, Slazenger, Everlast, Lonsdale and Karrimor.

Sports Direct was founded in 1982, listed on the London Stock Exchange in 2007 and is a constituent of the FTSE 100 index. For more information please visit www.sportsdirectplc.com 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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