Renew Holdings PLC Exercise of Options (3645X)
December 19 2023 - 11:12AM
UK Regulatory
TIDMRNWH
RNS Number : 3645X
Renew Holdings PLC
19 December 2023
19 December 2023
Renew Holdings plc
("Renew" or the "Group")
Exercise of Options
Renew (AIM: RNWH), the leading Engineering Services Group
supporting the maintenance and renewal of critical UK
infrastructure, announces that today options ("LTIP Options") over
a total of 94,539 ordinary shares have been exercised by Paul
Scott, CEO (37,936), Sean Wyndham-Quin, CFO (29,027) and Andries
Liebenberg, Executive Director (27,576).
The LTIP Options had an exercise price of 10p per ordinary
share. In accordance with the LTIP rules and noting that the
Executive Directors' existing shareholdings already exceed the
shareholding guidelines, the Remuneration Committee elected to
settle the exercise of the LTIP Options in cash, simplifying the
settlement process and bringing shareholders the incremental
benefit of avoiding dilution. Accordingly, to settle the exercise
of their LTIP Options the Executive Directors will receive a cash
payment determined by reference to 832.5 pence (being the 5-day
volume weighted average price to the close of business on 18
December 2023) for each ordinary share in respect of which their
LTIP Option was exercised less 10 pence per share. The payment will
be taxable in the normal manner.
Following this exercise, the shareholdings of Paul Scott, Sean
Wyndham-Quin and Andries Liebenberg will remain unchanged, and they
therefore continue to hold shares in excess of the shareholding
guidelines as set out in the Remuneration Policy.
No of Value Annual % of Salary Shareholding
Shares Salary Guideline
Paul Scott 232,932 GBP1,939,159 GBP404,250 480% 100%
------------------------------ ------------- ----------- ------------ -------------
Sean Wyndham-Quin 132,532 GBP1,103,329 GBP309,750 356% 100%
------------------------------ ------------- ----------- ------------ -------------
Andries Liebenberg 49,481 GBP411,929 GBP294,000 140% 100%
------------------------------ ------------- ----------- ------------ -------------
The current total number of ordinary shares of 10p each in issue
is 79,133,889 and following the exercise noted above there is a
total of 603,015 ordinary shares remaining outstanding under LTIP
options none of which have yet vested.
For further information, please contact: For further
information, please contact:
Renew Holdings plc www.renewholdings.com
Paul Scott, Chief Executive Officer via FTI Consulting
Sean Wyndham-Quin, Chief Financial Officer 020 3727 1000
Deutsche Numis (Nominated Adviser and
Joint Broker) 020 7260 1000
Stuart Skinner / Kevin Cruickshank
Peel Hunt LLP (Joint Broker) 020 7418 8900
Mike Burke / Ed Allsopp
FTI Consulting (Financial PR) 020 3727 1000
Alex Beagley / Tom Hufton / Rafaella Renew@fticonsulting.com
de Freitas / Amy Goldup
About Renew Holdings plc
Renew is a leading UK Engineering Services business, performing
a critical role in keeping the nation's infrastructure functioning
efficiently and safely. The Group operates through independently
branded subsidiaries across its chosen markets, delivering
non-discretionary maintenance and renewal tasks through its highly
skilled, directly employed workforce.
Renew's activities are focused into two business streams:
Engineering Services, which accounts for over 95 per cent of the
Group's adjusted operating profit, focuses on the key markets of
Rail, Infrastructure, Energy (including Nuclear) and Environmental
which are largely governed by regulation and benefit from
non-discretionary spend with long-term visibility of committed
funding.
Specialist Building focuses on the High Quality Residential,
Landmark and Science markets in London and the Home Counties.
For more information please visit the Renew Holdings plc website: www.renewholdings.com
The information set out below is provided in accordance with the
requirements of the UK Market Abuse Regulation.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1. P. Scott
2. S. Wyndham-Quin
3. A. Liebenberg
----------------------------------- ---------------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
3. Executive Director
----------------------------------- ---------------------------------------------------
b) Initial notification Initial Announcement
/Amendment
----------------------------------- ---------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------
a) Name Renew Holdings plc
----------------------------------- ---------------------------------------------------
b) LEI 213800O3DC3V4WYA2E09
----------------------------------- ---------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------------------------
a) Description of the Ordinary Shares of 10 pence each
financial instrument,
type of instrument
Identification code ISIN: GB0005359004
b) Nature of the transaction Exercise of options under the Renew Holdings
plc Long Term Incentive Plan. The options
were cash settled by reference to 832.5
pence (being the 5-day volume weighted
average price to the close of business
on 18 December 2023) for each ordinary
share in respect of which the options
were exercised less 10 pence per share.
----------------------------------- ---------------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------------
Price(s) Volume(s)
-------------------- -------------------------
1. Nil 1. 37,936*
2. Nil 2. 29,027*
3. Nil 3. 27,576*
-------------------- -------------------------
*Settled with a payment of
822.5 pence per share in lieu
of delivery of shares.
----------------------------------- -----------------------------------------------
d) Aggregated information
- Aggregated volume 94,539*
*Settled with a payment of 822.5 pence
per share in lieu of delivery of shares.
- Price Nil
e) Date of the transaction 19 December 2023
----------------------------------- ---------------------------------------------------
f) Place of the transaction Outside of a trading venue
----------------------------------- ---------------------------------------------------
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END
IOEGPGBUPUPWGMB
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