Issue of Equity

RNS Number : 5961L

Renold PLC

13 August 2013

 



Renold plc

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

Issue of Equity on exercise of share warrants.

Renold, a leading international supplier of industrial chains and related power transmission products, announces that on 13 August 2013, the Company allotted 500,063 fully paid new ordinary shares ('new ordinary shares') pursuant to the exercise of Warrants by Royal Bank of Scotland plc ("RBS") at a price of 21.06 pence per share, conditional only on admission of the new shares to the Official List and to trading on the London Stock Exchange's main market for listed securities becoming effective ('Admission').

Application has been made for Admission which is expected to become effective and dealings in the new ordinary shares will then commence at 8:00 a.m. on 16 August 2013.

Following Admission, there are a total of 221,564,516 ordinary shares in issue. For the purposes of calculating Total Voting Rights shareholders may use this number as the total number of shares in issue from the date of Admission.

The warrants were originally granted in August 2009 as part of the re-financing agreed with the Group's banks at that time, being Royal Bank of Scotland plc and Fortis Bank UK Branch.  The Warrants were subsequently modified during the equity placement in December 2009 at which time the exercise price was fixed at 21.06 pence. Following the transaction above, RBS retain 1,500,187 unexercised warrants with the same exercise price noted above.

The Directors take responsibility for the contents of this announcement.

13 August 2013

ENQUIRIES:

Renold plc	0161 498 4500
Robert Purcell, Chief Executive
Brian Tenner, Finance Director
Arden Partners Chris Hardie	0207 614 5917
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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