JJB directors could earn £4m each

A REVIVAL of fortunes at the Wigan retailer JJB Sports could earn senior executives £4m each in share options, it emerged today.

Executive chairman Sir David Jones, and directors Lawrence Coppock, Richard Manning and Colin Tranter all stand to benefit from the scheme which depends on JJB’s share price rising in value by 150% over three years.

The shares have been trading at around 32p giving the directors a target of some 80p by 2012.

The scheme is detailed in the prospectus for the sportswear chain’s £100m fundraising unveiled earlier this week. It shows that the four directors could each be awarded shares equivalent of up to 0.9% of the company.

For these shares to be paid out the company’s share price must increase by 150% over three years from the level it was prior to the fundraising.

This would make each stake worth around £4.2m. If shares rise by 50%, around 25% of shares will be awarded. At yesterday’s closing price each stake would be worth nearly £870,000.