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RHI Magnesita N.V. announced that on 24 September 2024, its Chief Executive Officer, Stefan Borgas, a PDMR, exercised share options over 3,663 ordinary shares. These options were granted under the Company's Long Term Incentive Plan on 15 March 2021 and vested on 18 March 2024. The shares were transferred from the Company's treasury account with no consideration payable, and no shares were sold to cover personal tax liabilities.
| Date | 27 Sept 2024 |
| Time | 11:15:06 |
| Category | Director/PDMR dealings |
| ID | 0431G |
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:
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Director/PDMR |
Position |
Options exercised |
Shares sold to cover personal tax liabilities |
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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.
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Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Stefan Borgas |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Executive Officer |
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b) |
Initial notification/Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
RHI Magnesita N.V. |
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b) |
LEI |
724500UWG6A61XNA3Y36 |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary shares of €1 each
Securities no.: 38785413, ISIN no.: NL0012650360 |
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b) |
Nature of the transaction |
Exercise of Options granted under the Company's LTIP in 2021
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c) |
Price(s) and volume(s)
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d) |
Aggregated information
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e) |
Date of the transaction |
24 September 2024 |
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f) |
Place of the transaction |
Off market
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For further enquiries, please contact:
Chris Bucknall, Head of Investor Relations
Tel: +43 699 1870 6490
E‐mail: [email protected]
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