RNS Number : 8990V
Gym Group PLC (The)
10 July 2024
 

The Gym Group plc

 

("Gym Group" or the "Company")

 

Grant of Share Awards

In accordance with the Company's Directors' Remuneration Policy, on 10 July 2024, awards under The Gym Group plc Incentive Plan (the "TGG Incentive Plan") and The Gym Group Deferred Share Bonus Plan (the "Deferred Bonus Plan") have been granted to the Directors/PDMRs of the Company set out in the table below over 1,225,558 ordinary shares of £0.01 each.

 

Director/PDMR

Number of ordinary shares subject to TGG Incentive Plan

Number of ordinary shares subject to Deferred Bonus Plan

Will Orr

686,878

9,488

Luke Tait

509,098

20,094

 

TGG Incentive Plan

The awards represent the share element of the TGG Incentive Plan for 2024, equivalent to 65% of the maximum opportunity for Executive Directors (275% of salary). Together with the cash element (35% of the maximum opportunity), the awards are subject to financial and non-financial performance targets set by the Company for 2024. The awards are granted under the rules of the TGG Incentive Plan and vest after three years subject to the satisfaction of these performance targets and the continued employment of the holder at the date of vesting. The exercise of vested awards for the holders listed above is subject to a two year holding period.

 

Deferred Bonus Plan

The awards represent the deferred element of the 2023 annual bonus, as set out in the 2023 Annual Report & Accounts. The Awards are granted under the rules of the Deferred Bonus Plan and vest after two years subject to the continued employment of the holder at the date of vesting.

 

The Company has today instructed the trustees of the Company's employee benefit trust to purchase c.1.5m shares in the capital of the Company on the market to satisfy future share option exercises.

For further information please contact:

The Gym Group plc        

via Instinctif Partners


Will Orr, CEO

Luke Tait, CFO

Krishan Pandit, Company Secretary

 




Instinctif Partners (Financial PR)

 

Justine Warren

Matthew Smallwood

Joe Quinlan 

  Tel: +44 (0)20 7457 2020

               

The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

1

Details of the person discharging managerial responsibilities / person closely associate

a)

Name

Will Orr

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

The Gym Group plc

b)

LEI

   213800VCU9TBANZIN455

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

 

   Ordinary shares of 1 pence each

 

 

Identification code

   ISIN: GB00BZBX0P70

b)

 

Nature of the transaction

i)  Grant of share awards under The Gym Group plc Incentive Plan

ii) Grant of share awards under The Gym Group Deferred Share Bonus Plan

c)

 

Price(s) and volume(s)

 


Price per share

Volume

i)

1 pence

686,878

ii)

1 pence

9,488

 

d)

Aggregated Information

- Aggregate volume

- Price

 

Price

Aggregate volume

1 pence

696,366

 

e)

Date of transaction

10 July 2024

f)

Place of transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associate

a)

Name

Luke Tait

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

 

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

The Gym Group plc

b)

LEI

   213800VCU9TBANZIN455

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

   Ordinary shares of 1 pence each

 

Identification code

   ISIN: GB00BZBX0P70

b)

 

Nature of the transaction

i)  Grant of share awards under The Gym Group plc Incentive Plan

ii) Grant of share awards under The Gym Group Deferred Share Bonus Plan

c)

 

Price(s) and volume(s)

 


Price per share

Volume

i)

1 pence

509,098

ii)

1 pence

20,094

 

d)

Aggregated Information

- Aggregate volume

- Price

 

Price

Aggregate volume

1 pence

529,192

 

e)

Date of transaction

10 July 2024

f)

Place of transaction

Outside a trading venue

 

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