Richard Darwin, CEO of The Gym Group, commented: ”Our new gym pipeline is the strongest it has ever been and we thank shareholders for their support in today’s successful placing which allows the Company to accelerate its rollout to 40 new sites over the next 18 months. Gyms have an essential role to play in the nation’s physical and mental health and growing our portfolio will widen access to affordable fitness for more communities across the UK.”

The Gym Group thereby is another publicly listed company that successfully raised fresh money in recent times. Only a few weeks earlier its Dutch counterpart BasicFit, realised an offering of EURm 303.7 in principal amount of senior unsecured convertible bonds. The net proceeds should be also used there to provide BasicFit with the financial flexibility to accelerate the execution of its growth strategy.  

Source: The Gym Group
Picture: The Gym Group