Director/PDMR Shareholding

RNS Number : 1547U

Renew Holdings PLC

21 December 2012

 



Renew Holdings plc

("Renew" or the "Company")

                                                          Director/PDMR shareholding

Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, has been notified that Brian May, Chief Executive and John Samuel, Group Finance Director were granted options on 20 December 2012 to subscribe for ordinary shares of 10p each ("Ordinary Shares") as to 228,560 and 171,440 shares respectively, pursuant to the Company's Long Term Incentive Plan adopted on 25 January 2012.

The options are exercisable at a nominal cost from 21 December 2015 but are only exercisable to the extent that certain performance criteria are achieved by the Company over a three year performance period commencing 1 October 2012. A summary of these criteria is set out below.

Vesting of one half of the Options will be dependent on absolute growth in the Company's Total Shareholder Return ('TSR'), and the other half dependent on the Company's TSR performance as compared to the TSR achieved by other companies in a comparator group of companies selected by the Remuneration Committee. All TSR calculations will be based on the average of the opening and closing share price over a 30 day period prior to the commencement and end of the performance period.

The absolute TSR growth target will require the Company's TSR over the three year performance period to have grown by more than 25%. For TSR growth between 25% and 100%, the half of the Option which is subject to the absolute TSR growth target will vest on a straight-line basis from nil vesting at 25% growth, to 100% vesting at 100% growth. There will be no vesting if TSR growth is 25% or less.

Enquiries:

Renew Holdings plc	Tel: [phone]
Brian May, Chief Executive
John Samuel, Group Finance Director
Numis Securities Limited	Tel: [phone]
Stuart Skinner (Nominated Adviser)
James Serjeant (Corporate Broker)
Walbrook PR	Tel: [phone]
Paul McManus (Media Relations)	Mob: [phone] or [e-mail]
Paul Cornelius (Investor Relations)	Mob: [phone] or [e-mail]

About Renew Holdings plc

Engineering Services, which accounts for over 60% of Group revenue and over 90% of operating profit, focuses on the key markets of Energy (including Nuclear), Environmental and Infrastructure, which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.

Specialist Building focuses on New Build Affordable Housing, High Quality Residential and Retail markets in the South of England.

The Group has 76 framework agreements; 62 of these are in Engineering Services with 45 of those being maintenance in nature.

For more information please visit the Renew Holdings plc website: www.renewholdings.com

 

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