THEWORKS.CO.UK PLC

Director's Dealing • Sep 30, 2021

National Storage Mechanism | Additional information

RNS Number : 6214N

TheWorks.co.uk PLC

30 September 2021

TheWorks.co.uk plc

(the "Company")

Director/PDMR Shareholding

TheWorks.co.uk plc, the multi-channel value retailer of gifts, arts, crafts, toys, books and stationery, today announces that on 30 September 2021, 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
Gavin Peck	Chief Executive Officer	LTIP Award - nil cost option	638,297
Stephen Alldridge	Chief Financial Officer	LTIP Award - nil cost option	446,808

The vesting of the LTIP Award is subject to the achievement of performance targets as set out below:

Measure	Weighting	Threshold (20% vesting)	Maximum (100% vesting)
EPS1	50%	5.6 pence	15.6 pence
Share Price2	50%	£0.57	£2

1Basic EPS for the company's 2023/2024 financial year, pre-IFRS16 and subject to such adjustments as the Remuneration Committee determines to ensure that performance is assessed on a fair and consistent basis

2Average share price over the period of four weeks beginning with the announcement by the company of its Full Year Trading Update for its 2023/2024 financial year.

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 / 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	638,297

d)

Aggregated information

Aggregated volume

Price

N/A - single transaction

e)

Date of the transaction

2021-09-30

f)

Place of the transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stephen Alldridge

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	446,808

d)

Aggregated information

Aggregated volume

Price

N/A - single transaction

e)

Date of the transaction

2021-09-30

f)

Place of the transaction

Outside a trading venue

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