Renold PLC Grant of Award - Performance Share Plan (3960U)
23 November 2019 - 2:00AM
UK Regulatory
TIDMRNO
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 Initial Notification
/ amendment
---------------------------------- ---------------------------------------------
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 Ordinary shares of 5 pence each
of the financial
instrument,
type of instrument
GB0007325078
Identification
code
---------------------------------- ---------------------------------------------
b) Nature of the Grant of awards pursuant to the Company's
transaction 2013 performance share plan
---------------------------------- ---------------------------------------------
c) Price(s) and Price(s) Volume(s)
Volume(s)
---------------------------------- ---------------------- ---------------------
Nil 1,834,862
-------------------------------------------------------------- ---------------------
d) Aggregated N/A
Information
Aggregated volume
Price
---------------------------------- ---------------------------------------------
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: 0161 498 4500 Tel: 020 7418 8900 Tel: 020 7457 2020
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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