Director/PDMR Shareholding

TheWorks.co.uk PLC

20 November 2024

 

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 [e-mail]

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; (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 £0.01 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)	Price(s) Volume(s) Nil cost award 1,216,688
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; (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 £0.01 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)	Price(s) Volume(s) Nil cost award 550,000
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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