Renold PLC Grant of Awards - Performance Share Plan (6516U)
January 19 2017 - 10:08AM
UK Regulatory
TIDMRNO
RNS Number : 6516U
Renold PLC
19 January 2017
Renold plc
("Renold" or "the Company")
GRANT OF AWARDS - PERFORMANCE SHARE PLAN
Renold announces that nil cost options over 368,465 shares (the
"Award") were granted on 16 January 2017, under the 2013
Performance Share Plan to its Group Finance Director, Ian
Scapens.
The number of shares under the Award was based on the average
mid-market price for the preceding three days which was 50.21
pence.
The performance period applicable to the Award is 1 April 2016
to 31 March 2019. The performance criteria for the vesting of the
Award is as follows:
Compound Annual Growth Rate in
adjusted earnings per share ('adjusted
EPS').
----------------------------------------- ----
Entry level threshold - 25% of
awards vest 10%
----------------------------------------- ----
Maximum vesting - 100% of awards
vest 15%
----------------------------------------- ----
Between these two points awards vest on a linear basis. The
starting measurement point is the adjusted EPS figure for the year
ended 31 March 2016.
19 January 2017
ENQUIRIES:
Renold plc 0161 498 4500
Robert Purcell, Chief Executive Officer
Ian Scapens, Group Finance Director
Arden Partners 020 7614 5929
Chris Hardie
Instinctif 020 7457 2020
Mark Garraway
Helen Tarbet
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 its website at:
www.renold.com
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- ------------------------------------------------------------------------
a) Name Ian Scapens
--- --------------------- -------------------------------------------------
2 Reason for the notification
--- ------------------------------------------------------------------------
a) Position/status Group Finance Director
--- --------------------- -------------------------------------------------
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 the transaction(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 Nil cost options over Ordinary Shares of GBP0.05
of the financial ISIN: GB0007325078
instrument,
type of instrument
Identification
code
--- --------------------- -------------------------------------------------
b) Nature of the Grant of options
transaction
--- --------------------- -------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- ----------
Nil Cost
Options 368,465
---------- ----------
--- --------------------- -------------------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--- --------------------- -------------------------------------------------
e) Date of the 16 January 2017
transaction
--- --------------------- -------------------------------------------------
f) Place of the London Stock Exchange (XLON)
transaction
--- --------------------- -------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 19, 2017 10:08 ET (15:08 GMT)