Director/PDMR Shareholding

RNS Number : 7554I

Renew Holdings PLC

15 December 2020

 

15 December 2020

Renew Holdings plc

("Renew" or the "Group")

Director/PDMR shareholding  

Renew (AIM: RNWH), the leading Engineering Services Group supporting UK infrastructure,  announces that a total of 242,161 options ("LTIP Options") have been granted on 14 December 2020 to subscribe for ordinary shares of 10p each pursuant to the Company's Long Term Incentive Plan adopted on 25 January 2012 as amended by certain rule changes approved at the Annual General Meeting held on 27 January 2016. The grant comprises the following allocation to executive directors of Renew:

P Scott (Chief Executive)	89,785
A Liebenberg (Executive Director)	65,267
S Wyndham-Quin (Chief Financial Officer)	68,702

The LTIP Options are exercisable at an exercise price of 10p per ordinary share from 16 December 2023 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 2020. The LTIP Options must be exercised before 16 December 2030.

A summary of the performance criteria is set out in the Directors' Remuneration Report in the Annual Report and Accounts for the year ended 30 September 2019 which is available on the Company's website and from the registered office.

The total number of ordinary shares of 10p each in issue is 78,681,334 and following the above  LTIP award there is a total of 842,451 outstanding none of which have yet vested. 

For further information, please contact:

Renew Holdings plc	www.renewholdings.com
Paul Scott, Chief Executive Officer Sean Wyndham-Quin, Chief Financial Officer	via FTI Consulting 020 3727 1000
Numis Securities Limited (Nominated Adviser) Stuart Skinner/ Kevin Cruickshank	020 7260 1000
FTI Consulting (Financial PR) Alex Beagley / James Styles	020 3727 1000 [e-mail]

About Renew Holdings plc

Renew Holdings Group plc is a leading UK Engineering Services business, performing a critical role in keeping the nation's infrastructure functioning efficiently and safely. The Group operates through independently branded subsidiaries across its chosen markets, delivering non-discretionary maintenance and renewal tasks through its highly skilled, directly employed workforce.

Renew's activities are focused into two business streams: Specialist Engineering, which accounts for over 90 per cent of the Group's adjusted operating profit, focuses on the key markets of Rail, Infrastructure, Energy (including Nuclear) and Environmental which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.

Specialist Building focuses on the High Quality Residential and Science markets in London and the Home Counties.

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

 

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