RWI Renewi

Renewi plc: Director/PDMR Shareholding

Renewi plc (RWI)
Renewi plc: Director/PDMR Shareholding

17-Nov-2020 / 13:56 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


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

 

Philip Griffin-Smith

2

 

Reason for the notification

 

a)

 

Position/status

 

Group Company Secretary (PDMR)

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Renewi plc

b)

 

LEI

 

213800CNEIDZBL17KU22

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

 

Identification code

 

 

Ordinary shares of 10 pence each

 

GB007995243

b)

 

Nature of the transaction

 

 

Vesting of 26,227 shares under the Renewi plc Long Term Incentive Plan (2017 grant)

c)

 

Price(s) and volume(s)

 

 

 

Shares vested

 

Price(s)

Shares vested

 

Volume(s)

£NIL

26,227

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

26,227

 

£ NIL

 

e)

 

Date of the transaction

 

16 November 2020

f)

 

Place of the transaction

 

Outside a trading venue

 

 

 

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

 

Baukje Dreimuller

2

 

Reason for the notification

 

a)

 

Position/status

 

General Counsel (PDMR)

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Renewi plc

b)

 

LEI

 

213800CNEIDZBL17KU22

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

 

Identification code

 

 

Ordinary shares of 10 pence each

 

GB007995243

b)

 

Nature of the transaction

 

 

Vesting of 59,607 shares under the Renewi plc Long Term Incentive Plan (2017 grant)

c)

 

Price(s) and volume(s)

 

 

 

Shares vested

 

Price(s)

Shares vested

 

Volume(s)

£NIL

59,607

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

59,607

 

£ NIL

 

e)

 

Date of the transaction

 

16 November 2020

f)

 

Place of the transaction

 

Outside a trading venue

 

 

 

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

 

Philip Griffin-Smith

 

2

 

Reason for the notification

 

a)

 

Position/status

 

Group Company Secretary (PDMR)

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Renewi plc

b)

 

LEI

 

213800CNEIDZBL17KU22

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

 

Identification code

 

 

Ordinary shares of 10 pence each

 

GB007995243

b)

 

Nature of the transaction

 

 

Sale of 13,113 of the shares vested under the Renewi plc Long Term Incentive Plan (2017 grant) on 16 November 2020 to cover withholding taxes and commission.

c)

 

Price(s) and volume(s)

 

 

 

Shares sold to cover taxes and commission

 

Price(s)

Shares sold to cover taxes and commission

 

Volume(s)

£0.2411

13,113

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

13,113

 

£0. 2411 per share

 

e)

 

Date of the transaction

 

16 November 2020

f)

 

Place of the transaction

 

London Stock Exchange, Main Market (XLON)

 

 

 

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

 

Baukje Dreimuller

2

 

Reason for the notification

 

a)

 

Position/status

 

General Counsel (PDMR)

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Renewi plc

b)

 

LEI

 

213800CNEIDZBL17KU22

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

 

Identification code

 

 

Ordinary shares of 10 pence each

 

GB007995243

b)

 

Nature of the transaction

 

 

Sale of 30,101 of the shares vested under the Renewi plc Long Term Incentive Plan (2017 grant) on 16 November 2020 to cover withholding taxes and commission.

c)

 

Price(s) and volume(s)

 

 

 

Shares sold to cover taxes and commission

 

Price(s)

Shares sold to cover taxes and commission

 

Volume(s)

£0. 2411

30,101

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

30,101

 

£0. 2411 per share

 

e)

 

Date of the transaction

 

16 November 2020

f)

 

Place of the transaction

 

London Stock Exchange, Main Market (XLON)

Contact

Tim Pratt

Deputy Company Secretary 01908 650589



ISIN: GB0007995243
Category Code: DSH
TIDM: RWI
LEI Code: 213800CNEIDZBL17KU22
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 88021
EQS News ID: 1148797

 
End of Announcement EQS News Service

fncls.ssp?fn=show_t_gif&application_id=1148797&application_name=news&site_id=research_pool
EN
17/11/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Renewi

Renewi: 1 director

A director at Renewi bought 19,500 shares at 7.735EUR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing...

Joren Van Aken
  • Joren Van Aken

Renewi - Hoping for a tender offer

We downgrade from Buy to Hold as in our view management did not deliver on their promises and destroyed shareholder value in recent yearsThe company overpaid on the UK Municipal divestment in our view and the ramp up at ATM is going slower than previously guided. We also expect Renewi to miss its FY28 revenue target by 30%The best outcome for shareholders therefore would be a takeover by either a PE player or strategic acquirer. As hoping for a tender offer is not really the foundation for a sol...

Joren Van Aken
  • Joren Van Aken

Renewi - Results slightly below, but ATM & UK more important

Results were slightly below expectations on revenue & EBIT levelUK Municipal to be sold at EUR 154m, a value-destructive price in our viewATM TGG inventory going down slower than expectedReinitiation of dividend at EUR 0.05 p/s, below CSS and DPeOverall we are quite disappointed. We do not believe the EUR 154m is an attractive price and expect investors to be disappointed. We put our rating and TP under review. We also remove Renewi from our Preference List.

Joren Van Aken
  • Joren Van Aken

Renewi - FY24 trading update but nothing new on UK Municipal or TGG

• Renewi issued its trading update confirming it “remains on track for announcement by 30 June 2024” for the UK Municipal business. A ‘modest' dividend will be proposed for FY24, as guided at H1• Management confirmed that results would be in line with consensus. We are slightly below consensus currently. No info on progress of TGG sales, which may be disappointing• Overall, the trading update had nothing in it that impacts the investment case of Renewi. Our investment case is based on 1) a ...

Joren Van Aken
  • Joren Van Aken

Renewi - Challenging market conditions forcing warning

Market conditions continued to be challenging, especially in the Netherlands which could not be fully offset by mitigating actions Consequently, Renewi warned that FY24 results would be below market expectations. We were already below market expectations. Hence, we expect to change our estimates only modestlyWe maintain our Buy rating, as our investment case is based on the expected actions, which could double profitability   

ResearchPool Subscriptions

Get the most out of your insights

Get in touch