This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-26525061
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Sports Direct founder Ashley in line for £65m bonus | Sports Direct founder Ashley in line for £65m bonus |
| (35 minutes later) | |
| The UK's biggest sports retailer, Sports Direct, plans to give founder Mike Ashley a share award worth £65.8m. | |
| The firm will propose that Newcastle United owner Mr Ashley be granted eight million ordinary shares. | The firm will propose that Newcastle United owner Mr Ashley be granted eight million ordinary shares. |
| The largest institutional shareholder has indicated that it will vote to approve the package on 4 April. | The largest institutional shareholder has indicated that it will vote to approve the package on 4 April. |
| The shares would pay out in July 2018 for Mr Ashley, who currently receives no salary or bonus from Sports Direct, which he founded in 1982. | The shares would pay out in July 2018 for Mr Ashley, who currently receives no salary or bonus from Sports Direct, which he founded in 1982. |
| The company wants to award the shares in recognition of the firm's success. | The company wants to award the shares in recognition of the firm's success. |
| Odey Asset Management has confirmed that it intends to vote in favour of the award, Sports Direct chairman Keith Hellawell said. | Odey Asset Management has confirmed that it intends to vote in favour of the award, Sports Direct chairman Keith Hellawell said. |
| The share award is conditional on the firm achieving full-year core earnings of £330m in 2014 and £410m in 2015, and other financial conditions. | The share award is conditional on the firm achieving full-year core earnings of £330m in 2014 and £410m in 2015, and other financial conditions. |
| A similar proposed award for Mr Ashley has been unsuccessful twice before. | A similar proposed award for Mr Ashley has been unsuccessful twice before. |
| One came after shareholder concerns over related performance targets, and another award attempt by the firm failed to be put to a vote. | One came after shareholder concerns over related performance targets, and another award attempt by the firm failed to be put to a vote. |