11th Aug 2023 09:12
RHI Magnesita NV - Vienna-based supplier of refractory products - Ignite Luxembourg Holdings Sarl, a company indirectly managed by Rhone Holdings VI LLC, confirms that its offer for RHI Magnesita shares will be reduced by the amount of the interim dividend declared by RHI Magnesita late last month. Rhone had offered GBP28.50 per share, aiming to build a 29.9% stake in RHI Magnesita, though in July its offer closed with acceptances providing a holding of just 19.95%. RHI Magnesita subsequently declared a EUR0.55 per share interim dividend, up 10% from a year before, and Rhone on Friday confirms its previously announced right to reduce its offer price by the sterling equivalent of that dividend, though the exact exchange rate is still to be determined.
Current stock price: 2,915.94 pence, down 1.4% in London on Friday
12-month change: up 45%
By Tom Waite, Alliance News editor
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