LONDON, July 16 Sports Direct's founder
and executive deputy chairman Mike Ashley has withdrawn from
participation in the sportswear retailer's 2015 bonus share
scheme just two weeks after it was backed by the firm's
The group said on Wednesday that after talks with the
board's remuneration committee, Ashley had informed the board he
did not wish to be awarded any shares under the new scheme.
The 2015 bonus plan could pay out 200 million pounds ($343
million) to an undisclosed number of employees if earnings more
than double over the next five years.
Sports Direct said Ashley had also informed the board that
while the 2015 bonus share scheme is in place he does not expect
any other share based incentive scheme to be proposed to
shareholders in relation to his role as an executive director of
($1 = 0.5835 British Pounds)
(Reporting by James Davey; editing by Kate Holton)