8 December 2023
Renew Holdings plc
("Renew" or the "Group")
Director/PDMR Shareholding
Renew (AIM: RNWH), the leading Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, announces that a total of 203,573 options ("LTIP Options") have been granted on 7 December 2023 to subscribe for ordinary shares of 10p each pursuant to the Company's Long Term Incentive Plan. The grant includes the following allocation to executive directors of Renew:
| P Scott (Chief Executive) | 73,411 |
| A Liebenberg (Executive Director) | 53,390 |
| S Wyndham-Quin (Chief Financial Officer) | 56,250 |
The LTIP Options shall ordinarily vest and become exercisable at an exercise price of 10p per ordinary share from 8 December 2026 but are only exercisable to the extent that certain performance criteria are achieved by the Company over a three-year performance period commencing 1 October 2023. The LTIP Options must be exercised before 8 December 2033. The LTIP Options will ordinarily be forfeit in the event of the grantee's cessation of employment ahead of the time vesting date.
A summary of the performance criteria is set out in the Directors' Remuneration Report in the Annual Report and Accounts which is available on the Company's website and from the registered office.
The current total number of ordinary shares of 10p each in issue is 79,133,889 and following the above LTIP award there is a total of 845,176 ordinary shares outstanding under LTIP options none of which have yet vested.
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 |
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|
Deutsche Numis (Nominated Adviser and Joint Broker) | 020 7260 1000 |
| Stuart Skinner / Kevin Cruickshank | |
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| |
| Peel Hunt LLP (Joint Broker) | 020 7418 8900 |
| Mike Burke / Ed Allsopp | |
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| FTI Consulting (Financial PR) | 020 3727 1000 |
| Alex Beagley / Tom Hufton / Rafaella de Freitas / Amy Goldup | Renew@fticonsulting.com |
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.
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| 1. P. Scott 2. A. Liebenberg 3. S. Wyndham-Quin | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| 1. Chief Executive Officer 2. Executive Director 3. Chief Financial Officer
| |||
| b)
| Initial notification /Amendment
| Initial Announcement | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Renew Holdings plc | |||
| b)
| LEI
| 213800O3DC3V4WYA2E09 | |||
| 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 of the financial instrument, type of instrument | Ordinary Shares of 10 pence each | |||
| | | ||||
| Identification code | ISIN: GB0005359004
| ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of options under the Renew Holdings plc Long Term Incentive Plan
| |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 1. Nil 2. Nil 3. Nil
| 1. 73,411 2. 53,390 3. 56,250
| | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 183,051
| ||||
| | | ||||
| - Price | Nil | ||||
| | | ||||
| e)
| Date of the transaction
| 7 December 2023 | |||
| f)
| Place of the transaction
| Outside of a trading venue | |||
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