7th Dec 2009 07:00
Renishaw plc
Restoration of voluntary salary reduction Additional responsibility of Director
Further to the Interim management statement made on 15th October 2009, based on the month by month improved performance of the Group, I am pleased to report that the Board has restored retrospectively the remaining 10% voluntary reduction in salaries with effect from 1st October 2009 and will make a partial payment in respect of the reduction for September 2009. With effect from 1st January 2010, salaries will be paid in full. Payment of the restored amount, totalling £2.3 million, will be made in the December 2009 payroll. Provision for this additional cost had been made at the time of the Interim management statement, so there is no change as a result of this payment to the Board's expectations of financial performance for the first half year or for the full year. The Board expects to announce the Company's interim results to 31st December 2009 on 27th January 2010.
In addition, pursuant to Listing Rule 9.6.11, the Company is pleased to announce that further to a reorganisation within the Group, responsibility for Group quality has been allocated to Ben Taylor, Assistant Chief Executive, with immediate effect.
SIR DAVID R McMURTRY CBE, RDI, FREng, CEng, FIMechE
Chairman & Chief Executive
7 December 2009
Enquiries: A C G Roberts 01453 524445
Registered number: 1106260
Registered office: New Mills, Wotton-under-Edge, Gloucestershire. GL12 8JR
Telephone: 01453 524524
Website: www.renishaw.com
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Renishaw