TIDMRNO

RNS Number : 7833A

Renold PLC

01 October 2020

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:

 
 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 a nil cost award under the 
        transaction                         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. 
      ----------------------------------  --------------------------------------------- 
 c)    Price(s) and                        Price(s)                Volume(s) 
        Volume(s) 
      ----------------------------------  ----------------------  --------------------- 
   Nil                                                             2,066,667 
  --------------------------------------------------------------  --------------------- 
 d)    Aggregated                          N/A 
        Information 
 
        Aggregated volume 
 
        Price 
      ----------------------------------  --------------------------------------------- 
 e)    Date of transaction                 30 September 2020 
      ----------------------------------  --------------------------------------------- 
 f)    Place of transaction                Outside of a trading platform 
      ----------------------------------  --------------------------------------------- 
 

ENQUIRIES:

 
Renold plc           Peel Hunt LLP       Instinctif Partners 
Robert Purcell, CEO  Mike Bell           Mark Garraway 
                     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

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END

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October 01, 2020 03:41 ET (07:41 GMT)