1 Jul 2010 12:09
CHAIRMAN'S FEE /DIRECTOR SHAREHOLDING
Following the announcement made by JJB Sports plc ("JJB" or the "Company") on 17 June 2010, the Company now announces that yesterday, 30 June 2010 the Company entered into a share fee agreement with its Chairman, John Clare, pursuant to which an award over 1,714,285 ordinary shares in the Company was made to John Clare. The shares the subject of the award will vest on 27 May 2012 subject to earlier vesting in certain defined circumstances.
The Board of JJB and John Clare have agreed this award in lieu of a fee of £150,000 per annum being paid during the two year period of the agreement. The award over ordinary shares is equal to the value of the cash fee that would have been paid during that period. The number of shares the subject of the award was calculated using the closing price on 27 May 2010 (17.5p), the date John Clare's appointment as Chairman was announced.
For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 5p of the Company in issue as at the date of this announcement is 650,831,860, with each share carrying the right to one vote.
There are no shares held in treasury.
The total number of voting rights in the Company is therefore 650,831,860. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure and Transparency Rules.
For further information, please contact:
Richard Manning
JJB Sports plc 01942 221400
A copy of this press release can also be viewed on the JJB Sports plc corporate website, www.jjbcorporate.co.uk
About JJB Sports
JJB Sports plc (JJB: LSE) is one of the UK's leading sports retailers. The group, headquartered in Wigan and listed on the Main Market of the London Stock Exchange, trades from 250 JJB branded retail stores in the UK and Ireland and employs approximately 7,600 people. Further information about the group can be found on the group's corporate website, www.jjbcorporate.co.uk