By Keri Algar

SYDNEY, NSW: On the same day Terry Smart announced to JB Hi-Fi shareholders a 12.2 per cent increase in sales for Q1 FY11, he acquired the largest amount of options over ordinary shares in JB Hi-Fi since his ascension to CEO in June.

Smart acquired 111,528 options over ordinary shares, just short of a third of his original holding, on 13 October 2010.

The interest notice was reported today on the Australian Securities Exchange (ASX) and leaves Smart with 472,573 options over ordinary shares and 1,500,000 ordinary shares in the publicly listed company.

Smart has been gradually increasing his options over the last year and a half; however, this recent acquisition marks the largest amount since August 2008 when he obtained 147,703 options over ordinary shares.