Renew Holdings provides exercisable LTIP options by Investing.com

LONDON – Renew Holdings PLC (AIM: RNVH), a prominent engineering services group involved in the maintenance and renewal of critical infrastructure in the UK, has granted a total of 166,528 Long Term Incentive Plan (LTIP) options to its executives, it was announced today. These options are part of the company’s efforts to encourage long-term performance and alignment with shareholder interests.

LTIP options granted include 74,771 to Chief Executive Officer P Scott and 54,281 to Chief Financial Officer S Windham-Quinn. These options will normally vest and be exercisable from 12 December 2027 at an exercise price of 10 pence per ordinary share. However, their exercise is subject to the achievement of certain performance criteria within a period of three years beginning on October 1, 2024. If these criteria are met, the options must be exercised before December 12, 2034, otherwise they will be forfeited, especially if the employment the recipient ends before the vesting date.

The performance criteria for the LTIP options are detailed in the Directors’ Awards Report, which can be found in the Annual Report and Accounts on Renew’s website. The company specified that following this LTIP grant, there are now 780,889 common shares outstanding under LTIP options, none of which have yet vested.

Renew’s current total number of common shares issued is 79,138,195. The granting of LTIP options is a common practice in corporate governance, which aims to ensure that the interests of directors are closely aligned with those of shareholders, particularly focusing on long-term value creation.

This press release is based on a press release and provides factual information regarding the LTIP options granted by Renew Holdings to its executive officers. It reflects the company’s commitment to maintaining a strong incentive structure for its leadership, which is critical to the firm’s continued success and growth in the infrastructure sector.

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