Grant of Award - Performance Share Plan

RNS Number : 3960U

Renold PLC

22 November 2019

 

Renold plc

("Renold" or the "Group")

Grant of Award - Performance Share Plan

22 November 2019

Renold announces that its Chief Executive Officer, Robert Purcell, was today granted 1,834,862 nil cost options (the "Award") under the 2013 Performance Share Plan (the "Plan").

The number of shares granted under the Award has been calculated using an average share price of 32.7 pence per share.

The performance period applicable to the Award is for three years commencing on 1 April 2019. The Award will vest on 21 November 2022, subject to achievement of earnings per share performance conditions and the rules 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 awards pursuant to the Company's 2013 performance share plan
c)	Price(s) and Volume(s)	Price(s)	Volume(s)
		Nil	1,834,862
d)	Aggregated Information Aggregated volume Price	N/A
e)	Date of transaction	22 November 2019
f)	Place of transaction	Off market

ENQUIRIES:

Renold plc	Peel Hunt LLP	Instinctif Partners
Robert Purcell, CEO	Mike Bell	Mark Garraway
Ian Scapens, Group FD	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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