RHI Magnesita N.V. Exercise of LTIP options by PDMR

RNS Number : 0431G

RHI Magnesita N.V.

27 September 2024

 

 

RHI Magnesita N.V.

("RHI Magnesita" or the "Company")

 

Exercise of LTIP Options by PDMR

 

 

RHI Magnesita N.V. announces that on 24 September 2024, a person discharging managerial responsibilities ("PDMR") exercised share options over 3,663 ordinary shares, represented by depositary interests, of €1 each (the "Award") in the capital of the Company ("Ordinary Shares" or "Shares").  The Award, made under the terms of the Company's Long Term Incentive Plan ("LTIP"), was granted on 15 March 2021.

 

The Award vested on 18 March 2024, following the assessment of the performance conditions which are disclosed in the 2023 Remuneration Report on page 165 of the 2023 Annual Report, available on the Company's website at www.rhimagnesita.com.

 

Shares acquired on exercise must be retained until the fifth anniversary of the date of grant, being 15 March 2026, other than to pay related taxes. No shares are being sold to cover taxes. The Award is subject to clawback provisions as outlined in the LTIP rules, available on the Company's website.

 

To satisfy the exercise of these Awards, Shares are being transferred from the Company's treasury account. No consideration is payable.

 

The PDMR exercised their Award as follows:

 

Director/PDMR	Position	Options exercised	Shares sold to cover personal tax liabilities
Stefan Borgas	Chief Executive Officer	3,663	0

 

The notification below is made in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.

 

 

 

 

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Stefan Borgas
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	RHI Magnesita N.V.
b)	LEI	724500UWG6A61XNA3Y36 National company register number: 68991665
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 €1 each   Securities no.: 38785413, ISIN no.: NL0012650360
b)	Nature of the transaction	Exercise of Options granted under the Company's LTIP in 2021
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil (exercise of options)   3,663
d)	Aggregated information	Price(s) Volume(s) 0 3,663
e)	Date of the transaction	24 September 2024
f)	Place of the transaction	Off market

 

 

For further enquiries, please contact:

  

Chris Bucknall, Head of Investor Relations

Tel: [phone]

E‐mail: [e-mail]

 

About RHI Magnesita

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with around 22,000 employees in 47 main production sites, 9 recycling facilities and more than 70 sales offices. RHI Magnesita intends to leverage its leadership in terms of revenue, scale, product portfolio and diversified geographic presence to target strategically those countries and regions benefitting from more dynamic economic growth prospects.

The Group is listed within the Equity Shares (Commercial Companies) category ("ESCC") of the Official List of the London Stock Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a secondary listing on the Vienna Stock Exchange (Wiener Börse). For more information please visit: www.rhimagnesita.com

 

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