15th Aug 2008 14:18
PR 65/08
Friday 14 August 2008
For Immediate Release
DSG INTERNATIONAL PLC
Remuneration Package and Share Interests
DSG international plc, one of Europe's largest specialist electrical retailers, is pleased to confirm the appointment of Nicholas Cadbury as Group Finance Director with effect from 14 August 2008.
In accordance with best practice, we are today disclosing details of Nicholas Cadbury's new remuneration package. We are also providing details, in accordance with the requirements of DTR 3.1.4R, of new share options granted in his role as Group Finance Director.
Nicholas will be paid a salary of £375,000 per annum.
Nicholas was yesterday granted options over ordinary shares of 2.5 pence each (Shares) in the Company pursuant to the Company's Executive Share Option Scheme (the Scheme)
Options were granted under the Scheme over 787,064 shares at an option price of 56.70 pence. These will be exercisable from 14 August 2011 to 11 July 2018 provided that certain performance conditions are met over the three-year performance period (the three financial years starting at the beginning of the Group's current financial year commencing on 4 May 2008).
Notes to editors:
BIOGRAPHY
Nicholas joined DSG international in 1993. He has held various roles since then including Finance Director of PC World, Commercial Director of PC World and Managing Director of Dixons Tax Free. Most recently he was Finance Director for the International Electricals operations. Nicholas qualified as a chartered accountant with Price Waterhouse.
Remuneration package
Key terms of the remuneration package for Nicholas Cadbury are set out below.
Salary
Basic salary: £375,000 per annum
Bonus
Nicholas Cadbury is entitled to participate in the annual bonus scheme applicable to executives of the Company. This incorporates pre-set targets approved by the Remuneration Committee on an annual basis.
Benefits
Nicholas Cadbury will be eligible to participate in the following benefits: life cover; pension; use of company car or cash equivalent; medical insurance and permanent health insurance.
- Ends -
For further information
David Lloyd-Seed, Group Communications Director, DSGi 01727 205065
Mark Webb, Head of Corporate Media Relations, DSGi 01727 205019
Laura Cummings Brunswick 020 7404 5959
Information on DSG international plc is available at http://www.dsgiplc.com
Related Shares:
DXNS.L