Sports Direct employee trust buys half a million shares

10th Sep 2018 08:23

(Sharecast News) - Sports Direct announced on Monday that, on 6 September, 547,115 ordinary shares were acquired by 70 participants, following the exercise of awards under the company's share schemes.The FTSE 250 retail group said the 503,602 shares sold by participants following exercise were acquired by Estera Trust Jersey, as trustee of the Sports Direct Employee Benefit Trust, with the acquisition being funded by a loan advanced by Sports Direct."The shares were acquired at a price of 369p per share in an off-market transaction effected in Jersey," the board said in its statement."The trustee has purchased these shares in order to help meet future obligations arising under the company's share schemes."