Small Box Format Rollout and New Credit Facility

RNS Number : 4029V

The Gym Group plc

03 December 2019

 

The Gym Group plc

Update on Small Box Format Rollout and New Credit Facility

The Gym Group plc ("the Company") is today hosting an analyst visit to its Newark gym, which opened on 11 November 2019 and is the Company's first 'small box' format site.  The development of the site pipeline for the small box format is in progress and the Company expects to open 5-8 small box gyms during 2020. This is in addition to the continued expansion of the Company's standard format estate, which will continue to be rolled out at a rate of 15-20 new sites per year.

Save for the information above no further material information will be provided during the visit.

The Company is also pleased to announce that it has entered into a new four-year, £70 million revolving credit facility provided by HSBC, Natwest and Banco de Sabadell.  The new facility replaces the Company's existing £60 million facilities on improved terms and will provide flexibility to execute the Company's strategy. 

                                                                                                                                                                3 December 2019

Enquiries:

The Gym Group Richard Darwin, CEO Mark George, CFO	via Instinctif Partners
Numis Luke Bordewich George Price	020 7260 1000
Peel Hunt Dan Webster George Sellar	020 7418 8900
Instinctif Partners Matthew Smallwood Justine Warren	0207 457 2020

 

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