TheWorks.co.uk PLC Director/PDMR Shareholding (6393P)
10 Ottobre 2023 - 11:42AM
UK Regulatory
TIDMWRKS
RNS Number : 6393P
TheWorks.co.uk PLC
10 October 2023
TheWorks.co.uk plc
(the "Company")
Director/PDMR Shareholding
TheWorks.co.uk plc, the multi-channel value retailer of arts,
crafts, toys, books and stationery, today announces that on 9
October 2023, 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 1,216,687
---------------------- ------------------ ----------------
Chief Financial LTIP Award - nil
Rosie Fordham Officer (Designate) cost option 450,000
---------------------- ------------------ ----------------
The vesting of the LTIP Award is subject to the achievement of
performance conditions based on (1) earnings assessed following the
end of a three year performance period ending with the 2025/2026
financial year and (2) share price performance. The earnings
measure and the share price measure will have an equal weighting.
The share price performance measure is set out below:
Measure Weighting Threshold (20% Maximum (100%
vesting) vesting)
Share Price(2) 50% GBP0.50 GBP1.00
---------- --------------- --------------
(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 2025/2026 financial year.
The earnings measure will be finalised once the Remuneration
Committee has finished its review of the implications for LTIP
awards of the prior year adjustments (described in the company's
2023 Annual Report and Accounts).
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 1,216,687
----------
------------------------- ------------------------------------------------
d) Aggregated information
Aggregated volume N/A - single transaction
Price
------------------------- ------------------------------------------------
e) Date of the transaction 2023-10-09
------------------------- ------------------------------------------------
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 (Designate)
------------------------- ------------------------------------------------
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 450,000
----------
------------------------- ------------------------------------------------
d) Aggregated information
Aggregated volume N/A - single transaction
Price
------------------------- ------------------------------------------------
e) Date of the transaction 2023-10-09
------------------------- ------------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------- ------------------------------------------------
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END
DSHFIFSAIILILIV
(END) Dow Jones Newswires
October 10, 2023 05:42 ET (09:42 GMT)
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