REG - Renold PLC - Grant of Options

RenoldAnnouncement

29/07/2024 16:00

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RNS Number : 2645Y  Renold PLC  29 July 2024

29 July 2024

 

Renold plc

("Renold", the "Company" or the "Group")

 

Grant of Options

 

 

Renold plc, a leading international supplier of industrial chains and related
power transmission products, announces that Robert Purcell, Chief Executive
Officer and Jim Haughey, Group Finance Director, were  granted 1,277,366 and
412,520 nil cost options over ordinary shares in the Company respectively (the
"Awards"), pursuant to the Company's 2013 Performance Share Plan (the "Plan")
on 26 July 2024.

The performance period applicable to the Awards is a three year period
commencing 1 April 2024. The Awards will vest on 26 July 2027, subject to
achievement of certain performance conditions and the terms of the Plan.

Following the grant of the Awards, the total options over ordinary shares in
the Company held by Robert Purcell and Jim Haughey pursuant to the Plan and
other Company share option plans are as follows:

 

 Director        Options held prior to the Awards  Options granted under the Awards  Total options held
 Robert Purcell  11,206,443                        1,277,366                                                12,483,809
 Jim Haughey     3,023,456                         412,520                           3,435,976

 

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  Ordinary shares of  5 pence each

      Identification code

                                                                   GB0007325078
 b)   Nature of the transaction                                    Grant of nil cost options
 c)   Price(s) and                                                 Price(s)                     Volume(s)

      Nil                                                                                       1,277,366
 d)   Aggregated                                                   N/A

      Information

      Aggregated volume

      Price
 e)   Date of transaction                                          26 July 2024

 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  Ordinary shares of  5 pence each

      Identification code

                                                                   GB0007325078
 b)   Nature of the transaction                                    Grant of nil cost options
 c)   Price(s) and                                                 Price(s)                     Volume(s)

      Volume(s)

      Nil                                                                                       412,520
 d)   Aggregated                                                   N/A

      Information

      Aggregated volume

      Price
 e)   Date of transaction                                          26 July 2024

 f)   Place of transaction                                         Outside of a trading platform

 

 

 

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 the website at:
www.renold.com (http://www.renold.com)

 

ENQUIRIES:

 

 Renold plc                           0161 498 4500
 Robert Purcell, Chief Executive
 Jim Haughey, Group Finance Director

 Peel Hunt LLP (Nominated Adviser and Joint Broker)                                020 7418 8900
 Mike Bell
 Ed Allsopp

 Cavendish Capital Markets Limited (Joint Broker)                                  020 7220 0500
 Ed Frisby / Tim Harper (Corporate Finance)
 Andrew Burdis / Harriet Ward (ECM)

 IFC Advisory Limited (Financial PR and IR)                                        020 3934 6630
 Tim Metcalfe                                                                      renold@investor-focus.co.uk
 Graham Herring

 

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