TWO directors of engineering services group Renew Holdings have sold shares worth a total of £1.54m after a four-year incentive plan vested with its share price near an all-time high.
With an average selling price of 385p, chief executive Brian May generated £880,000 and group finance director John Samuel sold £660,000. Mr May now holds 0.9% of the company and Mr Samuel has a 0.4% stake.
The long term incentive plan was adopted in January 2012, when the share price was around 80p. The group’s share price has been on an upwards trend for around 30 months, quadrupling to briefly go above 400p earlier this month.
The company currently has a market value of £240m.
Renew announced record results for the year to September, with pre-tax profits at £19.6m on revenues of £500m.
The Leeds-headquartered business, which employs 1,200 of its 3,000 staff in Yorkshire, works mainly on maintenance projects in regulated sectors including rail and water infrastructure.
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