Completion of share buyback

RNS Number : 6234H

RHI Magnesita N.V.

05 August 2021

 

RHI Magnesita N.V.

("RHI Magnesita" the "Company" or the "Group")

Completion of share buyback programme

RHI Magnesita announces the completion of its share buyback programme of up to €50 million, managed by Barclays Bank Ireland PLC, which commenced on 5 May 2021 and ended on 4 August 2021.

Over the course of the buyback programme, 1,008,979 ordinary shares ("shares") were repurchased for a total consideration of €49,999,174 at an average price of 4254 pence per share. The shares repurchased represent 2.1% of the Company's issued share capital excluding treasury shares prior to the commencement of the buyback programme. All of the shares purchased in the buyback programme have been placed in treasury and the Company now holds a total of 2,478,686 shares in treasury.

The Board will continue to evaluate the potential for additional share buyback programmes to further enhance shareholder returns, after taking into account market conditions and the Group's wider capital allocation priorities.

For further enquiries, please contact:

Chris Bucknall, Head of Investor Relations

Tel [phone]

E‐mail:  [e-mail]

About RHI Magnesita

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with around 12,000 employees in 28 main production sites and more than 70 sales offices. RHI Magnesita intends to build on its leadership in revenue, scale, product portfolio and diversified geographic presence to expand further in high growth markets.

The Group maintains a premium listing on the Official list of the London Stock Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a secondary listing on the Vienna Stock Exchange (Wiener Börse). For more information please visit: www.rhimagnesita.com

 

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