TheWorks.co.uk PLC Director/PDMR Shareholding (6214N)
30 Septiembre 2021 - 10:42AM
UK Regulatory
TIDMWRKS
RNS Number : 6214N
TheWorks.co.uk PLC
30 September 2021
TheWorks.co.uk plc
(the "Company")
Director/PDMR Shareholding
TheWorks.co.uk plc, the multi-channel value retailer of gifts,
arts, crafts, toys, books and stationery, today announces that on
30 September 2021, 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 Award
Chief Executive LTIP Award - nil
Gavin Peck Officer cost option 638,297
------------------- ------------------ -----------------
Chief Financial LTIP Award - nil
Stephen Alldridge Officer cost option 446,808
------------------- ------------------ -----------------
The vesting of the LTIP Award is subject to the achievement of
performance targets as set out below:
Measure Weighting Threshold (20% Maximum (100%
vesting) vesting)
EPS(1) 50% 5.6 pence 15.6 pence
---------- --------------- --------------
Share Price(2) 50% GBP0.57 GBP2
---------- --------------- --------------
(1) B asic EPS for the company's 2023/2024 financial year,
pre-IFRS16 and subject to such adjustments as the Remuneration
Committee determines to ensure that performance is assessed on a
fair and consistent basis
(2) Average share price over the period of four weeks beginning
with the announcement by the company of its Full Year Trading
Update for its 2023/2024 financial year.
The whole LTIP Award is 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 performance period and whether
any value in the LTIP Award at assessment of the performance
condition represents a "windfall gain".
The LTIP Award will vest following the assessment of the
performance conditions (to the extent that the conditions have been
satisfied) and, in accordance with the Company's Remuneration
Policy, 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:
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 Initial notification
/ amendment
------------------------- ------------------------------------------------
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 Ordinary shares of GBP0.01 each
the financial
instrument ISIN: GB00BF5HBF20
------------------------- ------------------------------------------------
b) Nature of the Grant of nil-cost options over ordinary
transaction shares under the Company's Long Term Incentive
Plan
------------------------- ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost award 638,297
----------
------------------------- ------------------------------------------------
d) Aggregated information
Aggregated volume N/A - single transaction
Price
------------------------- ------------------------------------------------
e) Date of the transaction 2021-09-30
------------------------- ------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- ------------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen Alldridge
------------------------- ------------------------------------------------
2. Reason for notification
---------------------------------------------------------------------------
a) Position / status 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 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 Ordinary shares of GBP0.01 each
the financial
instrument ISIN: GB00BF5HBF20
------------------------- ------------------------------------------------
b) Nature of the Grant of nil-cost options over ordinary
transaction shares under the Company's Long Term Incentive
Plan
------------------------- ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost award 446,808
----------
------------------------- ------------------------------------------------
d) Aggregated information
Aggregated volume N/A - single transaction
Price
------------------------- ------------------------------------------------
e) Date of the transaction 2021-09-30
------------------------- ------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- ------------------------------------------------
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END
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September 30, 2021 11:42 ET (15:42 GMT)
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