TheWorks.co.uk plc
(the "Company" or the "Group")
Director/PDMR Shareholding
TheWorks.co.uk plc, the family-friendly value retailer of arts, crafts, toys, books and stationery, today announces that on 19 November 2024, the Company granted awards over ordinary shares of 1 pence each in the Company under the TheWorks.co.uk 2018 Long Term Incentive Plan ("LTIP Award") as follows:
| Name of individual | Position / status | Type of award | Number of shares subject to LTIP Award1 |
| Gavin Peck | Chief Executive Officer | LTIP Award - nil cost option | 1,216,688 |
| Rosie Fordham | Chief Financial Officer | LTIP Award - nil cost option | 550,000 |
1 At the determination of the Company's Remuneration Committee, the number of shares subject to LTIP Awards has been calculated by reference to a share value of £0.40 per share.
The awards are subject to stretching and equally weighted earnings and share price performance conditions, in line with previous awards.
The awards are subject to an underpin condition in accordance with which the Remuneration Committee may adjust the formulaic vesting outturn having regard to the overall financial performance of the Group over the three-year performance period ending FY27 and whether any value in the awards at assessment of the performance condition represents a "windfall gain".
The LTIP Awards will vest following the assessment of the performance conditions (to the extent that the conditions have been satisfied) and then be subject to a further two-year holding period.
The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail:
| Enquiries:
TheWorks.co.uk plc Gavin Peck, CEO Rosie Fordham, CFO
|
via Sanctuary Counsel |
| Singer Capital Markets (Nomad and Broker) Peter Steel Jalini Kalaravy
| 020 7496 3000 |
| Sanctuary Counsel Ben Ullmann Rachel Miller Kitty Ryder | 0207 340 0395 |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Gavin Peck | ||||
| 2. | Reason for 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 | TheWorks.co.uk plc | ||||
| b) | LEI | 894500W7PWBCCWBN9R03 | ||||
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; | |||||
| a) | Description of the financial instrument | Ordinary shares of £0.01 each ISIN: GB00BF5HBF20 | ||||
| b) | Nature of the transaction | Grant of nil-cost options over ordinary shares under the Company's Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information Aggregated volume Price |
N/A - single transaction
| ||||
| e) | Date of the transaction | 19 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Rosie Fordham | ||||
| 2. | Reason for 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 | TheWorks.co.uk plc | ||||
| b) | LEI | 894500W7PWBCCWBN9R03 | ||||
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; | |||||
| a) | Description of the financial instrument | Ordinary shares of £0.01 each ISIN: GB00BF5HBF20 | ||||
| b) | Nature of the transaction | Grant of nil-cost options over ordinary shares under the Company's Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information Aggregated volume Price |
N/A - single transaction
| ||||
| e) | Date of the transaction | 19 November 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
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