Exercise of Share Warrants

RNS Number : 5022D

Renold PLC

17 May 2012

 



Renold plc

("Renold" or "the Company")

Issue of Equity on exercise of share warrants.

Renold, a leading international supplier of industrial chains and related power transmission products, announces that on 16 May 2012, the Company allotted 1,499,750 fully paid new ordinary shares ('new ordinary shares') pursuant to the exercise of Warrants by Fortis Bank UK Branch at a price of 21.06 pence per share, conditional only on admission of the new shares to the Official List and to trading on the London Stock Exchange's main market for listed securities becoming effective ('Admission').

Application has been made for Admission which is expected to become effective and dealings in the new ordinary shares will then commence at 8:00 a.m. on 23 May 2012.

Following Admission, there are a total of 221,064,453 ordinary shares in issue. For the purposes of calculating Total Voting Rights shareholders may use this number as the total number of shares in issue from the date of Admission.

The warrants were originally granted in August 2009 as part of the re-financing agreed with the Group's banks at that time, being Royal Bank of Scotland Plc and Fortis Bank UK Branch.  The Warrants were subsequently modified during the equity placement in December 2009 at which time the exercise price was fixed at 21.06 pence

The Directors take responsibility for the contents of this announcement.

17 May 2012

ENQUIRIES:

Renold plc	0161 498 4500
Bob Davies, Chief Executive
Brian Tenner, Finance Director
Arden Partners	0207 614 5917
Chris Hardie
College Hill	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 their website at: www.renold.com

 

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