Renold plc
('Renold' or 'the Company')
GRANT OF AWARDS - PERFORMANCE SHARE PLAN
Renold announces that nil cost options over 368,465 shares (the 'Award') were granted on 16 January 2017, under the 2013 Performance Share Plan to its Group Finance Director, Ian Scapens.
The number of shares under the Award was based on the average mid-market price for the preceding three days which was 50.21 pence.
The performance period applicable to the Award is 1 April 2016 to 31 March 2019. The performance criteria for the vesting of the Award is as follows:
Compound Annual Growth Rate in adjusted earnings per share ('adjusted EPS'). | |
Entry level threshold - 25% of awards vest | 10% |
Maximum vesting - 100% of awards vest | 15% |
Between these two points awards vest on a linear basis. The starting measurement point is the adjusted EPS figure for the year ended 31 March 2016.
19 January 2017
ENQUIRIES:
Renold plc | 0161 498 4500 |
Robert Purcell, Chief Executive Officer | |
Ian Scapens, Group Finance Director | |
Arden Partners | 020 7614 5929 |
Chris Hardie | |
Instinctif | 020 7457 2020 |
Mark Garraway | |
Helen Tarbet |
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 its website at:www.renold.com
Renold plc published this content on 19 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 January 2017 15:16:59 UTC.
Original documenthttp://miranda.hemscott.com/servlet/HsPublic?context=ir.access&ir_option=RNS_NEWS&item=2721533944397824&ir_client_id=528
Public permalinkhttp://www.publicnow.com/view/0C9D24B2EC5F1BFFE165B3D5CF4A83C1245DF996