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

 

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