Gym Group PLC (The) Director/PDMR Shareholding (6359Y)

TIDMGYM

RNS Number : 6359Y

Gym Group PLC (The)

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     Initial notification 
       / amendment 
     -----------------------  ------------------------------------------------ 
 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              Ordinary Shares of 0.01p each 
       of the financial         ISIN: GB00BZBX0P70 
       instrument 
     -----------------------  ------------------------------------------------ 
 b)   Nature of the            Awards over shares granted pursuant to 
       transaction              The Gym Group Performance Share Plan. 
     -----------------------  ------------------------------------------------ 
 c)   Price(s) and              Price(s)                     Volume(s) 
       volume(s)                      1. Nil consideration         1. 349,087 
                                       2. Nil consideration         2. 255,997 
                                                             ----------------- 
     -----------------------  ------------------------------------------------ 
 d)   Aggregated information 
       Aggregated volume         N/A (single transaction) 
       Price 
     -----------------------  ------------------------------------------------ 
 e)   Date of the              9 September 2020 
       transaction 
     -----------------------  ------------------------------------------------ 
 f)   Place of the             Outside a trading venue 
       transaction 
     -----------------------  ------------------------------------------------

For further information, please contact:

 
 The Gym Group                     via Instinctif Partners 
  Richard Darwin, CEO 
  Mark George, CFO 
  Katy Tucker, Company Secretary

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September 10, 2020 06:35 ET (10:35 GMT)

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