Grant of Awards - Performance Share Plan

RNS Number : 7833A

Renold PLC

01 October 2020

 

Renold plc

("Renold" or the "Group")

Grant of Awards - Performance Share Plan

1 October 2020

Renold announces that on 30 September 2020, its Chief Executive Officer, Robert Purcell, was granted 2,066,667 nil cost options (the "Award") under the 2013 Performance Share Plan (the "Plan").

The performance period applicable to the Awards is for a three year period commencing on 1 April 2020. The awards will vest on 30 September 2023, subject to achievement of certain performance conditions and the terms of the Plan.

The notification below, made in accordance with the requirements of Article 7 of the EU Market Abuse Regulation, provides further detail:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Purcell
2	Reason for the notification
a)	Position/Status	Chief Executive Officer
b)	Initial notification / amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Renold Plc
b)	LEI	213800LNDGJY65SP6P54
4	Details of transactions(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of  5 pence each GB0007325078
b)	Nature of the transaction	Grant of a nil cost award under the company's 2013 performance share plan as a conditional award of shares subject to continued service and earning per share performance based criteria being achieved. Ordinarily vests over a 3 year period.
c)	Price(s) and Volume(s)	Price(s)	Volume(s)
		Nil	2,066,667
d)	Aggregated Information Aggregated volume Price	N/A
e)	Date of transaction	30 September 2020
f)	Place of transaction	Outside of a trading platform

ENQUIRIES:

Renold plc	Peel Hunt LLP	Instinctif Partners
Robert Purcell, CEO	Mike Bell	Mark Garraway
	Ed Allsopp	Rosie Driscoll
Tel: [phone]	Tel: [phone]	Tel: [phone]

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 reputation for quality that is recognised worldwide. Its products are used in a wide variety of industries including manufacturing, transportation, energy, metals and mining.

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

 

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