×
603
Fashion Jobs
ASIANLAK HEALTH FOODS LTD.
Area Sales Manager
Permanent · Jalandhar
GIRNARSOFT EDUCATION SERVICES PRIVATE LIMITED
Interview || Area Sales Manager || Collegedekho.Com || s. India
Permanent · Chennai
GENESTORE INDIA PRIVATE LIMITED
Area Sales Manager/ Business Development Executive-Mumbai
Permanent · Mumbai
ANAND RATHI
Cluster Head/ Area Sales Manager
Permanent · Chennai
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
MAHALAKSHMI PROFILES PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
ARCHANGEL HR SOLUTIONS
Consultant Planning, Merchandising, Sourcing
Permanent · Chennai
KARADI PATH EDUCATION COMPANY PRIVATE LIMITED
Senior Area Sales Manager - Karadi Path Education Company
Permanent · Chennai
SENSO FOODS PRIVATE LIMITED
Area Sales Manager/sr. Sales Executive For "Corporate Sales"
Permanent · Ahmedabad
ALGOR SUPPLYCHAIN SOLUTIONS PRIVATE LIMITED
Hiring For Sales Manager in Logistic co| Hyderabad | Goa
Permanent · Bengaluru
A2V INSURANCE BROKERS PRIVATE LIMITED
Area Sales Manager
Permanent · Ludhiana
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Mumbai
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Namakkal
Permanent · Namakkal
ARKRAY HEALTHCARE PVT. LTD
Opening For Medical Business Manager(mr)- Delhi Chennai & Bangalore
Permanent · Chennai
PUMA
Studio Operations Manager
Permanent · Bengaluru
SHASHA GABA
Fashion Consultant
Permanent · NEW DELHI
ELICO LIMITED
Requirement For Production Manager
Permanent · Hyderabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Faizabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Mahoba
ELECTRONICA FINANCE LTD
Area Sales Manager - Machinery Loan(Delhi ,Faridabad & Ghaziabad)
Permanent · Faridabad
IOTECHWORLD AVIGATION PVT LTD
Production Manager Engineer (Design & Development)
Permanent · Gurugram
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
By
Reuters
Published
Mar 11, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sports Direct proposes £65 million share bonus for founder Ashley

By
Reuters
Published
Mar 11, 2014

LONDON, England - Sports Direct on Tuesday outlined plans to hand its founder and deputy chairman Mike Ashley a share bonus worth around 65 million pounds ($108 million) in recognition of the company's rise to Britain's biggest sporting goods retailer.

Ashley, who holds a 62 percent stake in the company he founded in 1982, receives no salary or bonus from Sports Direct despite being the key figure in the company's success.

The firm said it would put proposals to shareholders at a meeting on April 4 to grant Ashley 8 million ordinary shares, worth almost 65 million pounds at Monday's closing share price of 809 pence.

The shares would vest in July 2018 if performance targets are met.

"The company has already received support from its largest institutional shareholder, Odey Asset Management, who has confirmed that it intends to vote in favour of the resolution," Sports Direct Chairman Keith Hellawell said.

"The board believes that Mike is one of the outstanding retailers of his generation and that all shareholders benefit from his on-going commitment to Sports Direct."

The share award is dependent upon the firm achieving full-year core earnings of 330 million pounds in 2014 and 410 million pounds in 2015, as well as a net debt/EBITDA ratio of 1.5 times or less at the end of its 2015 fiscal year.

The proposal is the third attempt by Sports Direct's board to reward its founder. One previous proposal was knocked back by shareholders due to concerns over the related performance targets, and another failed to be put to a vote.

The group, which has over 600 sports stores in Europe, including 400 in the UK, grew rapidly during the economic downturn on demand for its value offers, supported by a mixture of acquisitions, expanding online sales and the demise of rivals like JJB Sports.

The firm's shares, up 88 percent on a year ago, entered Britain's blue-chip FTSE 100 index in September.

© Thomson Reuters 2021 All rights reserved.