RNS Number : 7644C
RHI Magnesita N.V.
28 March 2025
RHI Magnesita N.V.
("RHI Magnesita" or the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
RHI Magnesita N.V. announces that on 25 March 2025, a person discharging managerial responsibilities ("PDMR") exercised share options over 58,755 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 8 March 2022.
The Award vested on 17 March 2025, following the assessment of the performance conditions which are disclosed in the Remuneration Report on page 224 of the 2024 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 8 March 2027, other than to pay related taxes. Shares are being sold to cover taxes and this is expected to conclude in the course of the forthcoming week. 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 and being sold in the market to cover taxes. 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
58,755
9,464
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
RHI Magnesita NV - Ordinary shares
Identification code
Securities no.: 38785413, ISIN no.: NL0012650360
b)
Nature of the transaction
1. Exercise of an award granted on 8 March 2022 under the RHI Magnesita Long Term Incentive Plan ("LTIP")
2. Sales of shares to fund the tax liability due
c)
Price(s) and volume(s)
Price(s)
Volume(s)
1. Nil
58,755
2. £33.21
2,920
3. £33.13
3,559
4. £32.35
2,985
d)
Aggregated information
Aggregated volume
Aggregated Price
1. 58,755
Nil
2. 2,920
£96,973.2
3. 3,559
£ 117,909.67
4. 2,985
£ 96,564.8
- Aggregated volume
9,464 shares sold
- Price
£311,448
e)
Date of the transaction
25 March 2025 to 27 March 2025
f)
Place of the transaction
London Stock Exchange - Main Market
For further enquiries, please contact:
Chris Bucknall, Head of Investor Relations
Tel: +43 699 1870 6490
E‐mail: chris.bucknall@rhimagnesita.com
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