Renold PLC Grant of Awards - Performance Share Plan (6231P)
09 June 2015 - 6:07PM
UK Regulatory
TIDMRNO
RNS Number : 6231P
Renold PLC
09 June 2015
Renold plc
("Renold" or "the Company")
GRANT OF AWARDS - PERFORMANCE SHARE PLAN
Renold announces that nil cost options were granted on 5 June
2015 under the 2013 Performance Share Plan to the Executive
Directors of the Company, as listed below.
The number of shares placed under award was based on the average
mid-market price for the preceding three days which was 76.50
pence.
Name of Director/PDMR Number of PSP Awards
Robert Purcell (Chief Executive) 392,157
Brian Tenner (Finance Director) 241,830
The performance period applicable to the Awards is 1 April 2015
to 31 March 2018. The performance criteria for the vesting of
awards are as follows:
Compound Annual Growth
Rate in adjusted earnings
per share ('adjusted EPS').
Entry level threshold - 25% of awards
vest 10%
Maximum vesting - 100% of awards vest 15%
Between these two points awards vest on a linear basis. The
starting measurement point is the adjusted EPS figure for the year
ended 31 March 2015 (i.e. 5.0 pence per share).
The transaction took place at Renold House, Styal Road,
Manchester, M22 5WL. This announcement is made pursuant to
Disclosure Rule 3.1.4 following notification under Disclosure Rule
3.1.2.
9 June 2015
ENQUIRIES:
Renold plc 0161 498 4500
Robert Purcell, Chief Executive Officer
Brian Tenner, Finance Director
Arden Partners 020 7614 5929
Chris Hardie
Instinctif 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 the website at:
www.renold.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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