26 July 2021
Renold plc
("Renold", the "Company" or the "Group")
Grant of Options
Renold announces that Robert Purcell, Chief Executive Officer, and Jim Haughey, Group Finance Director, were granted 2,480,000 and 800,000 nil cost options (the "Awards") respectively on 23 July 2021, pursuant to the 2013 Performance Share Plan (the "Plan").
The performance period applicable to the Awards is a three year period commencing on 1 April 2021. The Awards will vest on 23 July 2024, subject to the achievement of certain performance conditions and the terms of the Plan.
Following the grant of the Awards, the total options held by Robert Purcell and Jim Haughey, including options under other Company share plans are as follows:
| Director | Options held prior to the Awards | Options granted under the Awards | Total options held |
| Robert Purcell | 6,111,656 | 2,480,000 | 8,591,656 |
| Jim Haughey | 666,667 | 800,000 | 1,466,667 |
The notifications below, made in accordance with the requirements of Article 19 of the 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 options | |
| c) | Price(s) and Volume(s)
| Price(s) | Volume(s) |
| Nil | 2,480,000 | ||
| d) | Aggregated Information
Aggregated volume
Price | N/A | |
| e) | Date of transaction
| 23 July 2021 | |
| f) | Place of transaction
| Outside of a trading platform | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||
| a) | Name | Jim Haughey | |
| 2 | Reason for the notification
| ||
| a) | Position/Status
| Group Finance Director
| |
| 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 options | |
| c) | Price(s) and Volume(s)
| Price(s) | Volume(s) |
| Nil | 800,000 | ||
| d) | Aggregated Information
Aggregated volume
Price | N/A | |
| e) | Date of transaction
| 23 July 2021 | |
| f) | Place of transaction
| Outside of a trading platform | |
ENQUIRIES:
| Renold plc | 0161 498 4500 |
| Robert Purcell, Chief Executive | |
| Jim Haughey, Group Finance Director | |
| | |
| Peel Hunt | 0207 418 8831 |
| Mike Bell Ed Allsopp | |
| | |
| IFC Advisory Limited Tim Metcalfe Graham Herring | 020 3934 6630 renold@investor-focus.co.uk |
| | |
| | |
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
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
