Grant of Options

RNS Number : 4303G

Renold PLC

26 July 2021

 

26 July 2021

Renold plc

("Renold", the "Company" or the "Group")

Grant of Options

Renold announces that Robert Purcell, Chief Executive Officer, and Jim Haughey, Group Finance Director, were granted 2,480,000 and 800,000 nil cost options (the "Awards") respectively on 23 July 2021, pursuant to the 2013 Performance Share Plan (the "Plan").

The performance period applicable to the Awards is a three year period commencing on 1 April 2021. The Awards will vest on 23 July 2024, subject to the achievement of certain performance conditions and the terms of the Plan.

Following the grant of the Awards,   the total options held by Robert Purcell and Jim Haughey, including options under other Company share plans are as follows:

Director	Options held prior to the Awards	Options granted under the Awards	Total options held
Robert Purcell	6,111,656	2,480,000	8,591,656
Jim Haughey	666,667	800,000	1,466,667

The notifications below, made in accordance with the requirements of Article 19 of the 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 options
c)	Price(s) and Volume(s)	Price(s)	Volume(s)
		Nil	2,480,000
d)	Aggregated Information Aggregated volume Price	N/A
e)	Date of transaction	23 July 2021
f)	Place of transaction	Outside of a trading platform

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jim Haughey
2	Reason for the notification
a)	Position/Status	Group Finance Director
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 options
c)	Price(s) and Volume(s)	Price(s)	Volume(s)
		Nil	800,000
d)	Aggregated Information Aggregated volume Price	N/A
e)	Date of transaction	23 July 2021
f)	Place of transaction	Outside of a trading platform

ENQUIRIES:

Renold plc	0161 498 4500
Robert Purcell, Chief Executive
Jim Haughey, Group Finance Director
Peel Hunt	0207 418 8831
Mike Bell Ed Allsopp
IFC Advisory Limited Tim Metcalfe Graham Herring	020 3934 6630 [e-mail]

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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