Source - SMW
The Gym Group has confirmed that 15 million ordinary shares - around 12% of the company's issued share capital - have been sold by funds managed by Phoenix Equity Partners, a fund managed by Bridges Ventures and Paul Gilbert.

Following the placing, Phoenix will continue to hold approximately 20.4% of the issued share capital of the company, Bridges will continue to hold approximately 10.1% and Gilbert will continue to hold 0.7%. These shares are subject to a 90 day lock-up.

At 9:39am:

(LON:GYM) The Gym Group Plc share price was -12.25p at 210.38p