Directorate Matters

RNS Number : 0058W

Renold PLC

21 January 2013

 



Renold plc

("Renold" or "the Company")

Directorate Matters

Renold, a leading international supplier of industrial chains and related power transmission products, is pleased to confirm that the new Chief Executive Robert Purcell has today joined the Board of Directors and commenced his executive duties.

As a result, Chairman Mark Harper has relinquished his executive role and will continue as Non-Executive Chairman.

Grant of Options

The Company wishes to announce the following grants of options (Options) on 21 January 2013 in Renold's ordinary shares of 5p each in accordance with the rules of The Renold plc 2004 Non Inland Revenue Approved Company Share Option Plan:

No. of Options held	Exercise price (pence)	Date exercisable from	Exercisable until
1,145,038	26.20	21 January 2016	21 January 2023

Director's shareholding

Robert Purcell's beneficial interest in the ordinary shares of 5p in the Company ("Ordinary Shares"), including the beneficial holdings of his connected persons, is as follows:

	No. of Ordinary Shares	Percentage of issued Ordinary Share capital
Robert Purcell	625,000	0.28%

The Ordinary Shares were acquired on 11 January 2013 at a price of 26.5p per share.

Senior Independent Director

John Allkins, who joined the Renold Board of Directors in April 2008, is today appointed to the role of the Senior Independent Director.

Mark Harper, Chairman, commented:

"I am pleased to welcome Robert to the Renold Board and look forward to supporting him in driving the Company's future performance.  I am also pleased that John has agreed to serve as Senior Independent Director given his extensive experience and knowledge of the Company."

21 January 2013

ENQUIRIES:

Renold plc	0161 498 4500
Mark Harper, Chairman
Brian Tenner, Finance Director
Arden Partners	020 7614 5929
Chris Hardie
College Hill	020 7457 2020
Mark Garraway
Helen Tarbet

NOTES FOR EDITORS

Renold is a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The Company has a well deserved reputation for quality that is recognised worldwide. Its products are used in a wide variety of industries including manufacturing, transportation, energy, steel and mining.

Further information about Renold can be found on their website at: www.renold.com

 

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