28th Mar 2025 16:12
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 | 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: [email protected]
Related Shares:
RHI Magnesita