Grant of Awards - Performance Share Plan

RNS Number : 7833A
Renold PLC
01 October 2020
 

Renold plc

("Renold" or the "Group")

 

Grant of Awards - Performance Share Plan

 

1 October 2020

 

Renold announces that on 30 September 2020, its Chief Executive Officer, Robert Purcell, was granted 2,066,667 nil cost options (the "Award") under the 2013 Performance Share Plan (the "Plan").

The performance period applicable to the Awards is for a three year period commencing on 1 April 2020. The awards will vest on 30 September 2023, subject to achievement of certain performance conditions and the terms 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 a nil cost award under the company's 2013 performance share plan as a conditional award of shares subject to continued service and earning per share performance based criteria being achieved. Ordinarily vests over a 3 year period.

c)

Price(s) and

Volume(s)

 

Price(s)

Volume(s)

Nil

2,066,667

d)

Aggregated

Information

 

Aggregated volume

 

Price

 

N/A

e)

Date of transaction

 

 

30 September 2020

f)

Place of transaction

 

 

Outside of a trading platform

 

 

ENQUIRIES:

Renold plc

Peel Hunt LLP

Instinctif Partners

Robert Purcell, CEO

Mike Bell

Mark Garraway


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

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