Grant of Awards - Performance Share Plan
Source: RNS
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:
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1 |
Details of the person discharging managerial responsibilities / person closely associated
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a) |
Name |
Robert Purcell |
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2 |
Reason for the notification
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a) |
Position/Status
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Chief Executive Officer
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b) |
Initial notification / amendment
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Initial Notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) |
Name
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Renold Plc
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b) |
LEI
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213800LNDGJY65SP6P54 |
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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
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a)
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Description of the financial instrument, type of instrument
Identification code |
Ordinary shares of 5 pence each
GB0007325078 |
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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. |
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c) |
Price(s) and Volume(s)
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Price(s) |
Volume(s) |
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Nil |
2,066,667 |
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d) |
Aggregated Information
Aggregated volume
Price
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N/A |
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e) |
Date of transaction
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30 September 2020 |
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f) |
Place of transaction
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Outside of a trading platform |
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ENQUIRIES:
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Renold plc |
Peel Hunt LLP |
Instinctif Partners |
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Robert Purcell, CEO |
Mike Bell |
Mark Garraway |
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Ed Allsopp |
Rosie Driscoll |
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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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