TIDMRNO

RNS Number : 3960U

Renold PLC

22 November 2019

Renold plc

("Renold" or the "Group")

Grant of Award - Performance Share Plan

22 November 2019

Renold announces that its Chief Executive Officer, Robert Purcell, was today granted 1,834,862 nil cost options (the "Award") under the 2013 Performance Share Plan (the "Plan").

The number of shares granted under the Award has been calculated using an average share price of 32.7 pence per share.

The performance period applicable to the Award is for three years commencing on 1 April 2019. The Award will vest on 21 November 2022, subject to achievement of earnings per share performance conditions and the rules 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                Initial Notification 
        / amendment 
      ----------------------------------  --------------------------------------------- 
 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                         Ordinary shares of 5 pence each 
        of the financial 
        instrument, 
        type of instrument 
                                            GB0007325078 
        Identification 
        code 
      ----------------------------------  --------------------------------------------- 
 b)    Nature of the                       Grant of awards pursuant to the Company's 
        transaction                         2013 performance share plan 
      ----------------------------------  --------------------------------------------- 
 c)    Price(s) and                        Price(s)                Volume(s) 
        Volume(s) 
      ----------------------------------  ----------------------  --------------------- 
   Nil                                                             1,834,862 
  --------------------------------------------------------------  --------------------- 
 d)    Aggregated                          N/A 
        Information 
 
        Aggregated volume 
 
        Price 
      ----------------------------------  --------------------------------------------- 
 e)    Date of transaction                 22 November 2019 
      ----------------------------------  --------------------------------------------- 
 f)    Place of transaction                Off market 
      ----------------------------------  --------------------------------------------- 
 

ENQUIRIES:

 
Renold plc             Peel Hunt LLP       Instinctif Partners 
Robert Purcell, CEO    Mike Bell           Mark Garraway 
Ian Scapens, Group FD  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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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