Merger Update

22. January 2019

RHI Magnesita is pleased to provide a further update on the Integrated Tender Offer (“ITO”) to the minority shareholders of Magnesita Refratários S.A. (“Magnesita”).

Further to the acceptances received at the close of the ITO on 10 December 2018, the Company announces that it has received additional valid acceptances of the ITO from holders of 2,143,961 Magnesita common shares, representing 8.6% of the Magnesita shares subject to the ITO and 4.3% of the total share capital of Magnesita.

As a result of these further acceptances, RHI Magnesita now holds 89.5% of the total share capital of Magnesita. Under the terms of the ITO, RHI Magnesita will issue 428,368 new ordinary shares of EUR 1 per share pursuant to its block listing application announced on 11 December 2018. The newly issued ordinary shares will rank pari passu with existing ordinary shares in issue.

Following the admission to trading of the new shares, the total number of RHI Magnesita ordinary shares issue will be 48,765,415.

Magnesita shareholders who have not yet accepted the ITO will still be able to participate, under the same terms, up to 10 March 2019. If, during that period, RHI Magnesita holds 95% or more of the total share capital of Magnesita, RHI Magnesita will have the right to redeem all outstanding Magnesita shares on the same terms as the ITO. The Company currently has capacity to issue an additional 1,053,624 ordinary shares under its current block listing facility in order to satisfy further valid acceptances of the ITO.



For further enquiries, please contact:

Guy Marks, Head of Investor Relations
Tel +44 7741 730681


Stefan Rathausky, Head of Corporate Communications
Tel +43 50213‐6059



About RHI Magnesita

RHI Magnesita is the global leading supplier of high-grade refractory products, systems and solutions which are indispensable for industrial 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 more than 10,000 customers in nearly all countries around the world. The Company has broad geographic diversification with more than 14,000 employees in 35 main production sites and more than 70 sales offices. RHI Magnesita intends to use its global leadership position in terms of revenue, greater scale, complementary product portfolio and diversified geographic presence around the world to target opportunistically those countries and regions benefitting from more dynamic economic growth prospects.


Its shares have a premium listing on the London Stock Exchange (symbol: RHIM) and are a constituent of the FTSE 250 index. For more information please visit: