logo-loader
RNS
The Gym Group PLC

Gym Group PLC (The) - Director/PDMR Shareholding

RNS Number : 6359Y
Gym Group PLC (The)
10 September 2020
 

10 September 2020

 

The Gym Group plc

("the Company")

Notification of transactions by Directors/PDMRs

The Gym Group plc announces that on 9 September 2020, awards over ordinary shares of 0.01p each in the capital of the Company ("Shares") were made under the terms of The Gym Group plc Performance Share Plan ("PSP") to directors and other persons discharging managerial responsibility ("PDMRs") as follows:

Name

Director/PDMR

Number of Shares under award

Richard Darwin

 

Director

349,087

 

Mark George

Director

 

255,997

 

 

The awards represent 0.01p par value options which, to the extent that the awards vest, provide for Shares to be delivered to the individuals for 0.01p consideration per Share. Vesting of the awards is subject to the satisfaction of certain performance conditions.

 

In normal circumstances, the above awards will not vest until the third anniversary of the award date. Any awards made to directors will also be subject to a two year holding period.

 

Vesting of the awards is subject to continued employment and two performance conditions which will be measured over a three year period from the date of grant. Further details will be provided in the 2020 annual report, but in summary the performance conditions will operate as follows:

 

-      66.7% of each Award will vest based on relative Total Shareholder Return (TSR) of the Company compared with the TSR performance of the constituents of the FTSE SmallCap index (excluding investment trusts) over the three-year performance period. Threshold vesting (20%) will be achieved for median performance and vesting will increase on a straight line basis to full vesting for upper quintile performance (or better).

 

-      33.3% of each award may vest based on achieving stretching targets for TSR of the Company during the three-year performance period. Threshold vesting (20%) will be achieved if the adjusted share price reaches 210 pence per Share and vesting will increase on a straight line basis to full vesting achieved if the adjusted share price reaches 300 pence per Share (or better).

 

These performance conditions were determined by the Company's Remuneration Committee as the most appropriate for these awards, in line with the Company's approved Directors' Remuneration Policy.

 

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

 

1.

Details of PDMR / person closely associated with them ("PCA")

a)

Name

1.   Richard Darwin

2.   Mark George

2.

Reason for the notification

a)

Position / status

1.   Chief Executive Officer

2.   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

2.

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

Ordinary Shares of 0.01p each

ISIN: GB00BZBX0P70

 

b)

Nature of the transaction

Awards over shares granted pursuant to The Gym Group Performance Share Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.   Nil consideration

2.   Nil consideration

1.   349,087

2.   255,997

 

d)

Aggregated information

Aggregated volume

Price

 

N/A (single transaction)

e)

Date of the transaction

9 September 2020

f)

Place of the transaction

Outside a trading venue

 

 

For further information, please contact:

 

 

The Gym Group

Richard Darwin, CEO

Mark George, CFO

Katy Tucker, Company Secretary

via Instinctif Partners

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHBBLFFBKLBBBZ
NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of...

FOR OUR FULL DISCLAIMER CLICK HERE

4 min read