22 Nov 2019 15:00
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: 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
Renold (RNO)