Last checked at 20 Sep 2022 12:34
20 September 2022
Renold plc
("Renold", the "Company" or the "Group")
Grant of Options
Renold plc, a leading international supplier of industrial chains and related power transmission products, announces that Robert Purcell, Chief Executive Officer and Jim Haughey, Group Finance Director, were today granted 2,560,000 and 860,000 nil cost options over ordinary shares in the Company respectively (the "Awards"), pursuant to the Company's 2013 Performance Share Plan (the "Plan").
The performance period applicable to the Awards is a three year period commencing 1 April 2022. The Awards will vest on 31 March 2025, subject to achievement of certain performance conditions and the terms of the Plan.
Following the grant of the Awards, the total options over ordinary shares in the Company held by Robert Purcell and Jim Haughey pursuant to the Plan and other Company share option plans are as follows:
Director | Options held prior to the Awards | Options granted under the Awards | Total options held |
Robert Purcell | 8,591,656 | 2,560,000 | 11,151,656 |
Jim Haughey | 1,466,667 | 860,000 | 2,326,667 |
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 nil cost options | |
c) | Price(s) and Volume(s)
| Price(s) | Volume(s) |
Nil | 2,560,000 | ||
d) | Aggregated Information
Aggregated volume
Price | N/A | |
e) | Date of transaction
| 20 September 2022 | |
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 nil cost options | |
c) | Price(s) and Volume(s)
| Price(s) | Volume(s) |
Nil | 860,000 | ||
d) | Aggregated Information
Aggregated volume
Price | N/A | |
e) | Date of transaction
| 20 September 2022 | |
f) | Place of transaction
| Outside of a trading platform | |
ENQUIRIES:
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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