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Frasers Group board back £100m staff bonus plan
The board of Frasers Group, majority-owned by Mike Ashley, has urged shareholders to back a £100m ($128.9m) company bonus scheme that “could be worth in excess of £100m” for staff.
The company, which owns Sports Direct, Flannels, Evans Cycles, USC, Jack Wills and GAME, said in a statement the “vast majority” of workers could receive cash or stock bonuses if its share price reaches a target level.
“Eligible and qualifying” workers could receive cash bonuses for up to four weeks’ salary, while 1,000 outstanding staff could receive shares worth between £50,000 and around £1m.
The scheme would run