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7 Dec 2009 07:00
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Renishaw plc
Restoration of voluntary salaryΒ reduction Additional responsibilityΒ of DirectorΒ
Further to the InterimΒ management statement made on 15th October 2009, based on the month by month improved performance of the Group, I am pleased to report that the Board has restoredΒ retrospectivelyΒ theΒ remaining 10% voluntary reduction in salaries with effect from 1st October 2009 andΒ will makeΒ a partialΒ payment in respect of the reduction for September 2009.Β With effect from 1st January 2010,Β salaries will be paid in full.Β Payment of the restored amount, totalling Β£2.3 million,Β will be made in the DecemberΒ 2009 payroll.Β Provision for this additional cost had beenΒ madeΒ at the time of the Interim management statement, soΒ there isΒ no change as a result of this payment to the Board's expectations of financial performanceΒ for the first half year or for the full year. The Board expects to announce the Company's interim results to 31st December 2009Β onΒ 27thΒ January 2010.
In addition, pursuant to Listing Rule 9.6.11,Β the Company is pleased to announce thatΒ further to a reorganisation within the Group,Β responsibility for Group quality has been allocated to Ben Taylor,Β Assistant Chief Executive,Β with immediate effect.
SIR DAVID R McMURTRYΒ CBE, RDI, FREng, CEng, FIMechE
Chairman & Chief Executive
7 December 2009
Enquiries: A C G Roberts 01453 524445
Registered number: 1106260
Registered office: New Mills, Wotton-under-Edge, Gloucestershire. GL12 8JR
Telephone: 01453 524524
Website: www.renishaw.com
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