REG - TheWorks.co.uk PLC - Director/PDMR Shareholding

Works co ukAnnouncement

20/11/2024 07:00

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RNS Number : 8755M  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 Award(1)
 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                         via Sanctuary Counsel

 Gavin Peck, CEO

 Rosie Fordham, CFO

 Singer Capital Markets (Nomad and Broker)  020 7496 3000

 Peter Steel

 Jalini Kalaravy

 Sanctuary Counsel                          0207 340 0395

 Ben Ullmann                                theworks@sanctuarycounsel.com (mailto:theworks@sanctuarycounsel.com)

 Rachel Miller

 Kitty Ryder

 

 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                         N/A - single transaction

     Price
 e)  Date of the transaction                   19 November 2024
 f)  Place of the transaction                  Outside a trading venue

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                         N/A - single transaction

     Price
 e)  Date of the transaction                   19 November 2024
 f)  Place of the transaction                  Outside a trading venue

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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