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3 Dec 2019 07:00
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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