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

 

Identification code

Ordinary shares of  5 pence each

 

 

 

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

Information

 

Aggregated volume

 

Price

N/A

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

 

Identification code

Ordinary shares of  5 pence each

 

 

 

GB0007325078

b)

Nature of the transaction

Grant of nil cost options

c)

Price(s) and

Volume(s)

 

Price(s)

Volume(s)

Nil

412,520

d)

Aggregated

Information

 

Aggregated volume

 

Price

N/A

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

 

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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