Last checked at 4 Sep 2019 11:29
4 September 2019
TheWorks.co.uk plc
(the "Company")
Notification of Transactions of Directors and Persons Discharging Managerial Responsibilities
TheWorks.co.uk plc, one of the UK's leading multi-channel specialist retailers of value gifts, arts, crafts, toys, books and stationery, announces that on 3 September 2019, the Company granted awards over ordinary shares of 1 pence each in the Company under the The Works.co.uk 2018 Long Term Incentive Plan ("LTIP Awards") and the The Works.co.uk 2018 Long Term Incentive (CSOP Options) Plan ("CSOP Awards").
Name of individual | Position / status | Type of award | Number of shares subject to LTIP Award |
Kevin Keaney | Chief Executive Officer | LTIP Award - nil cost option | 388,456 |
Gavin Peck | Chief Financial Officer | LTIP Award - nil cost option | 250,617 |
Andrea Bennett | Trading Director - PDMR | LTIP Award - nil cost option | 143,321 |
On the same date, each individual set out above was granted a tax qualifying CSOP Award over 37,037 shares at a per share exercise price of 81 pence under the TheWorks.co.uk 2018 Long Term Incentive (CSOP Options) Plan. Each CSOP Award is linked to the LTIP Award such that, at the time of exercise, to the extent that there is a gain in the CSOP Award, the LTIP Award will be forfeited to the value of that gain to ensure that the total pre-tax value of the original LTIP Award is not increased by the grant of the CSOP Award.
The release of all the above awards is subject to the achievement of performance targets as set out in the Company's Directors' Remuneration Report for the year ended 28 April 2019.
The awards granted to Kevin Keaney and Gavin Peck are subject to a two year holding period beginning on the date on which the awards vest and will be released immediately following the end of the holding period.
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Notification of Dealing Form
1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
a) | Name | Kevin Keaney | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | Chief Executive Officer | ||||||||
b) | Initial notification/ amendment | Initial Notification | ||||||||
3. | Details of the Issuer | |||||||||
a) | Name | TheWorks.co.uk plc | ||||||||
b) | LEI code | 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 Identification code | Ordinary shares of 1 pence each ISIN: GB00BF5HBF20 | ||||||||
b) | Nature of the transaction | Grant of awards over ordinary shares under the Company's Long Term Incentive Plan | ||||||||
c) | Price(s) and volumes(s) | LTIP Award
CSOP Award
| ||||||||
d) | Aggregated information - Aggregate volume - Price
|
Awards granted over 425,493 ordinary shares in total N/A
| ||||||||
e) | Date of the transaction | 2019-09-03 | ||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||
1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
a) | Name | Gavin Peck | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | Chief Financial Officer | ||||||||
b) | Initial notification/ amendment | Initial Notification | ||||||||
3. | Details of the Issuer | |||||||||
a) | Name | TheWorks.co.uk plc | ||||||||
b) | LEI code | 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
Identification code | Ordinary shares of 1 pence each
ISIN: GB00BF5HBF20 | ||||||||
b) | Nature of the transaction | Grant of awards over ordinary shares under the Company's Long Term Incentive Plan | ||||||||
c) | Price(s) and volumes(s) | LTIP Award
CSOP Award
| ||||||||
d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 287,654 ordinary shares in total
N/A
| ||||||||
e) | Date of the transaction | 2019-09-03 | ||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||
1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||||
a) | Name | Andrea Bennett | ||||||||
2. | Reason for the notification | |||||||||
a) | Position/status | Director / PDMR | ||||||||
b) | Initial notification/ amendment | Initial Notification | ||||||||
3. | Details of the Issuer | |||||||||
a) | Name | TheWorks.co.uk plc | ||||||||
b) | LEI code | 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
Identification code | Ordinary shares of 1 pence each
ISIN: GB00BF5HBF20 | ||||||||
b) | Nature of the transaction | Grant of awards over ordinary shares under the Company's Long Term Incentive Plan | ||||||||
c) | Price(s) and volumes(s) | LTIP Award
CSOP Award
| ||||||||
d) | Aggregated information - Aggregate volume
- Price
|
Awards granted over 180,358 ordinary shares in total
N/A
| ||||||||
e) | Date of the transaction | 2019-09-03 | ||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||