REG - The Gym Group plc - Small Box Format Rollout and New Credit Facility

GYMAnnouncement

03/12/2019 07:00

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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