Grant of Award - Performance Share Plan
Released : 22/11/2019 15:00
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 of the | Ordinary shares of 5 pence each | ||
financial instrument, | ||||
type of instrument | ||||
Identification code | GB0007325078 | |||
b) | Nature of the | Grant of awards pursuant to the Company's 2013 performance | ||
transaction | 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.comor visit www.rns.com.
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Renold plc published this content on 22 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2019 15:16:07 UTC