Renold PLC Results of General Meeting (6525V)

TIDMRNO

RNS Number : 6525V

Renold PLC

15 April 2021

For immediate release

15 April 2021

Renold Plc

("Renold" or the "Company")

Results of General Meeting

Renold, a leading international supplier of industrial chains and related power transmission products, announces that the resolutions seeking approval from Shareholders for the proposed cancellation of the entire amount of the Company's share premium account and capital redemption reserve (the "Reduction of Capital") and the proposed amendments to its Articles of Association, were passed at the General Meeting held earlier today.

The Reduction of Capital, as described in the circular sent to shareholders on 29 March 2021 (the "Circular") and which is available at the Company's website (investors.renold.com), remains subject to the High Court's approval and an application will be made to the Court in this regard.

Timetable of Principal Events

 
 Expected Court Hearing to confirm                  18 May 2021 
  Reduction of Capital 
 Expected registration of Court Order   on or about 22 May 2021 
  and effective date of Reduction of 
  Capital

Further announcement will be issued in due course as appropriate.

General Meeting Voting Results

The General Meeting voting was undertaken by way of a poll. The poll results are set out below and will also be available on the Company's website later today:

 
       Resolution            For           %       Against     %      Total cast    % of ISC voted*   Votes withheld** 
       That the entire 
        amount standing to 
        the credit of the 
        share premium 
        account of the 
        Company 
 1.     be cancelled.        132,775,502   99.91   124,982     0.09   132,900,484   58.96             115,053 
      --------------------  ------------  ------  ----------  -----  ------------  ----------------  ----------------- 
 2.    That the entire       132,751,259   99.89   149,225     0.11   132,900,484   58.96             115,053 
        amount standing to 
        the credit of the 
        capital redemption 
        reserve of the 
        Company 
        be cancelled. 
      --------------------  ------------  ------  ----------  -----  ------------  ----------------  ----------------- 
 3.    That the Articles     126,970,995   95.53   5,936,617   4.47   132,907,612   58.96             107,925 
        of Association of 
        the Company be 
        amended. 
      --------------------  ------------  ------  ----------  -----  ------------  ----------------  -----------------

*The total number of voting shares in issue ("ISC") as at 14 April 2021 was 225,417,740 ordinary shares of 5p each.

**A vote withheld is not counted as a vote in law and therefore is not counted in the % of votes "for" or "against" a resolution.

Terms used in this announcement have the same meaning given to them in the Circular.

ENQUIRIES:

 
 Renold plc                         0161 498 4500 
 Robert Purcell, Chief Executive 
 Jim Haughey, Group Finance 
  Director 
 
 Peel Hunt LLP                      020 7418 8900 
 Mike Bell 
 Ed Allsopp 
 
 IFC Advisory Limited               020 3934 6630 
 Tim Metcalfe                       renold@investor-focus.co.uk 
 Graham Herring

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

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END

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