Director/PDMR Shareholding

RNS Number : 1475A
Sports Direct International Plc
26 January 2011
 



Sports Direct International plc

Notification of interests of directors/persons discharging managerial responsibility and connected persons ("PDMRs")

26 January 2011

Grant of awards

The Company announces that on 26 January 2011 each of the Directors and Persons Discharging Managerial Responsibility (PDMR) listed below were granted awards over ordinary shares in the Company under the Company's Executive Bonus Share Scheme with HM Revenue & Customs Approved Schedule (the "Scheme"). 

Awards under the Scheme are structured as Approved Performance Share Plan Awards ("APSP Awards") and comprise three elements: (i) an HM Revenue & Customs Approved Option over shares with a total value at the date of grant of £30,000 with an exercise price of 164.3 pence per share; (ii) a "Linked Award" which is a funding award in the form of a nil cost option; and (iii) a separate Scheme Award in the form of a nil cost option over shares to the value of the remainder of the APSP Award above the £30,000 limit. 

Subject to the satisfaction of the performance conditions the APSP Awards will vest and become exercisable two years and one month after the announcement of the Company's results for its financial year ending on 30 April 2011.

The Approved Option can only be exercised if the share price has increased between the date of grant and the date of exercise.  If the Approved Option is not exercised or if the APSP Award is exercised before the third anniversary of the date of grant), the Linked Award will be capable of exercise in full, subject to the satisfaction of the Performance Conditions.  In any event the APSP Award will not increase the pre-tax value delivered to the participant above what it would have been if the relevant award had been granted simply as a Scheme Award.  

 

Director/PDMR

Number of shares subject to Approved Option

Number of shares subject to Linked Award

Number of Shares subject to the Nil Cost Option

Dave Forsey

18,259

18,259

981,741

Bob Mellors

18,259

18,259

981,741

Karen Byers

18,259

18,259

981,741

Sean Nevitt

18,259

18,259

981,741

 

Release of awards

The Company announces that on 26 January 2011 each of the Directors/PDMR listed below has, as a condition of the grant of the awards under the Executive Bonus Share Scheme referred to above also released awards held by him over ordinary shares in the Company which were granted under share schemes established by the Company. 

Director/PDMR

Scheme under which released award held

Date of grant of released award

Number of Shares subject to the released award

Dave Forsey

Performance Share Plan

16 July 2008

987,654


Performance Share Plan

13 August 2009

674,157


Bonus Share Scheme

14 October 2009

127,500

Bob Mellors

Performance Share Plan

16 July 2008

987,654


Performance Share Plan

13 August 2009

674,157


Bonus Share Scheme

14 October 2009

127,500

Karen Byers

Performance Share Plan

13 January 2009

987,654


Performance Share Plan

13 August 2009

674,157


Bonus Share Scheme

14 October 2009

127,500

Sean Nevitt

Performance Share Plan

13 January 2009

987,654


Performance Share Plan

13 August 2009

674,157


Bonus Share Scheme

14 October 2009

127,500

 

The notification of these transactions is made pursuant to DTR 3.1.4R (1)(a).

Enquiries: Rebecca Tylee-Birdsall, Acting Company Secretary, Sports Direct International plc, 0870 838 7309


This information is provided by RNS
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