Exercise of LTIP Options by PDMR
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RHI Magnesita N.V. announces that on 8 May 2024, a person discharging managerial responsibilities ("PDMR") exercised share options over 11,846 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 | ||||
| Ian Botha | Chief Financial Officer | 11,846 | 0 | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||
| a) | Name | Ian Botha | |||||
| 2 | Reason for the notification | ||||||
| a) | Position/status | Chief Financial Officer | |||||
| b) | Initial notification/Amendment | Initial notification | |||||
| a) | Name | RHI Magnesita N.V. | |||||
| b) | LEI | 724500UWG6A61XNA3Y36 National company register number: 68991665 | |||||
| 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) 11,846 | |||||
| d) | Aggregated information |
| |||||
| e) | Date of the transaction | 8 May 2024 | |||||
| f) | Place of the transaction | Off market |
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