Last checked at 27 Nov 2019 18:13
RHI Magnesita N.V.
("RHI Magnesita" or the "Company")
Grant of a conditional share award under the Long Term Incentive Plan
RHI Magnesita N.V. (the "Company") today announces the granting of an award under the RHI Magnesita Long Term Incentive Plan ("LTIP"), to a person discharging management responsibilities ("PDMR").
This restricted share award to the CFO is to replace deferred bonus share awards forfeited on leaving his previous employer and joining RHI Magnesita, as disclosed in the 2018 Remuneration Report and within the Directors' Remuneration Policy.
Director/PDMR | Position | Number of Shares |
Ian Botha | Chief Financial Officer | 16,592 |
Awards will normally vest on the third anniversary of the date of grant, subject to the CFO's continued employment with the Company in the three years following the Award Date. The awards are subject to clawback provisions as outlined in the LTIP rules, available on the Company's website.
No consideration is payable for the grant or vesting of awards. The price used to calculate the maximum number of ordinary shares under the LTIP was £38.73, being the average closing price on 19th, 20th, 21st, 22nd and 25th November 2019 of the Company's shares on the main market of the London Stock Exchange.
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 | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | RHI Magnesita N.V. | ||||
b) | LEI | 724500UWG6A61XNA3Y36National 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 Identification code | Ordinary shares of €1 each Securities no.: 38785413, ISIN no.: NL0012650360 | ||||
b) | Nature of the transaction | Award made pursuant to the Company's Long Term Incentive Plan | ||||
c) | Price(s) and volume(s)
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d) | Aggregated information
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e) | Date of the transaction | 26 November 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further enquiries, please contact:
Guy Marks, Head of Investor RelationsTel: +44 7932 013 357E‐mail: guy.marks@rhimagnesita.com