TIDMMDC
RNS Number : 1556G
Mediclinic International plc
23 November 2020
Mediclinic International plc
(Incorporated in England and Wales)
Company Number: 08338604
LSE Share Code: MDC
JSE Share Code: MEI
NSX Share Code: MEP
ISIN: GB00B8HX8Z88
LEI: 2138002S5BSBIZTD5I60
("Mediclinic" , or the " Company ", or the "Group" )
23 November 2020
NOTIFICATION: TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES & PERSONS CLOSELY ASSOCIATED WITH THEM
Awards under the Company's Short-Term Incentive Scheme
As disclosed in the Directors' Remuneration Report of 1 June
2020 for the year ending 31 March 2020 ("FY20"), given the
significant global uncertainty caused by the COVID-19 pandemic (the
"pandemic"), the Group took a number of decisions to maintain its
liquidity through the crisis in order to maximise its support in
tackling the pandemic. In light of this, and the Board's decision
to suspend the dividend, the Remuneration Committee (the
"Committee") and wider Board debated at length the impact on
executive remuneration. Subsequently, the Committee decided it
would be appropriate to suspend a final decision on pay-outs
already earned by the executive directors under the Company's
Short-term Incentive Scheme ("STI") for performance during the
financial year ended 31 March 2020 ("FY20") until later in the
current financial year ("FY21").
In support of South Africa's establishment of a Solidarity Fund
aimed at assisting the most vulnerable South Africans to deal with
the impact of the pandemic, the Group Chief Executive Officer
("CEO") and Group Chief Financial Officer voluntarily donated 30%
of their salaries for three months to this essential national
initiative. Similarly, the divisional CEOs and all non-executive
directors of the Board voluntarily donated 30% of their salaries or
fees for three months to benefit charities with similar aims in the
countries in which Mediclinic has a presence. In addition, all
other Group and divisional executive committee members made similar
donations to related charities in their respective countries.
Given the vital role of facility-based frontline employees
during the pandemic, the Committee determined that the previously
planned increases for these employees proceed. A decision on salary
increases for executive directors was, however, postponed until
later in the year. The Committee recently decided to approve the
executive directors' annual salary increase with effective from
October 2020, excluding back-pay for the period April-September
2020.
On 12 November 2020, the Group released its results for the six
months ending 30 September 2020 ("1H21"), reporting a robust 1H21
operating performance with a strong financial position and
liquidity. The Group continues to fulfil an essential role in
combatting the pandemic. As an international healthcare services
provider, Mediclinic prioritises the safety of its employees and
patients; the continuity of its operations; and its support of and
collaboration with the relevant health authorities - all while
delivering on its Group strategy. Considering this, the Committee
has reviewed its position on the FY20 STI pay-out.
Following careful review, the Committee has now decided to
approve an award, exercising its discretion to override the
formulaic FY20 STI outcome (set out on page 212 of the 2020 Annual
Report). Taking into account all relevant factors, the Committee
considered it appropriate to reduce the award by 60%, which
therefore equates to 17% of a maximum possible pay-out. Details of
the pay-out will be included in the FY21 Directors' Remuneration
Report.
In line with the Remuneration Policy, approved by shareholders
at the 2020 Annual General Meeting, 50% of the STI outcome was
deferred into shares for two years. Therefore, on 20 November 2020,
the following awards over ordinary shares in Mediclinic ("Shares")
were granted under the Company's STI.
Name Role Number of Shares
awarded under the
STI
Group Chief Executive
Dr Carel Aron van der Merwe Officer 20 391
----------------------- -------------------
Group Chief Financial
Petrus Jurgens Myburgh Officer 13 383
----------------------- -------------------
The awards made under the STI were granted for nil consideration
and are based on the average of the middle-market quotations of a
Share during a period of five consecutive dealing days ending with
the dealing day before the day of grant, which equates to GBP3.11
per Share.
The notifications below are made in accordance with Articles
19.1 and 19.3 of the Market Abuse Regulation.
1. Details of PDMR / person closely associated with them
("PCA")
a) Name Dr Carel Aron van der Merwe
----------------------- ---------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------
a) Position / status Group Chief Executive Officer of the Company
----------------------- ---------------------------------------------
b) Initial notification Initial Notification
/ amendment
----------------------- ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Mediclinic International plc
----------------------- ---------------------------------------------
b) LEI 2138002S5BSBIZTD5I60
----------------------- ---------------------------------------------
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 Ordinary shares
of the financial
instrument GB00B8HX8Z88
Identification
Code
----------------------- ---------------------------------------------
b) Nature of the Award over ordinary shares in Mediclinic
transaction International plc granted at nil cost under
the Company's Short-term Incentive Scheme
----------------------- ---------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBPnil 20 391
----------
----------------------- ---------------------------------------------
d) Aggregated information
Aggregated volume
Price
20 391
GBPnil
----------------------- ---------------------------------------------
e) Date of the 20 November 2020
transaction
----------------------- ---------------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- ---------------------------------------------
1. Details of PDMR / person closely associated with them
("PCA")
a) Name Petrus Jurgens Myburgh
----------------------- ---------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------
a) Position / status Group Chief Financial Officer of the Company
----------------------- ---------------------------------------------
b) Initial notification Initial Notification
/ amendment
----------------------- ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Mediclinic International plc
----------------------- ---------------------------------------------
b) LEI 2138002S5BSBIZTD5I60
----------------------- ---------------------------------------------
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 Ordinary shares
of the financial
instrument GB00B8HX8Z88
Identification
Code
----------------------- ---------------------------------------------
b) Nature of the Award over ordinary shares in Mediclinic
transaction International plc granted at nil cost under
the Company's Short-term Incentive Scheme
----------------------- ---------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBPnil 13 383
----------
----------------------- ---------------------------------------------
d) Aggregated information
Aggregated volume
Price
13 383
GBPnil
----------------------- ---------------------------------------------
e) Date of the 20 November 2020
transaction
----------------------- ---------------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- ---------------------------------------------
About Mediclinic International plc
Mediclinic is a diversified international private healthcare
services group, established in South Africa in 1983, with divisions
in Switzerland, Southern Africa (South Africa and Namibia) and the
United Arab Emirates ("UAE").
The Group's core purpose is to enhance the quality of life.
Its vision is to be the partner of choice that people trust for
all their healthcare needs.
Mediclinic is focused on providing specialist-orientated,
multi-disciplinary services across the continuum of care in such a
way that the Group will be regarded as the most respected and
trusted provider of healthcare services by patients, medical
practitioners, funders and regulators of healthcare in each of its
markets.
At 30 September 2020, Mediclinic comprised 76 hospitals, eight
sub-acute and specialised hospitals, 17 day case clinics and 18
outpatient clinics. Hirslanden operated 17 hospitals and four day
case clinics in Switzerland with more than 1 900 inpatient beds;
Mediclinic Southern Africa operations included 52 hospitals (three
of which in Namibia), eight sub-acute and specialised hospitals and
11 day case clinics (four of which operated by Intercare) across
South Africa, and more than 8 700 inpatient beds; and Mediclinic
Middle East operated seven hospitals, two day case clinics and 18
outpatient clinics with more than 900 inpatient beds in the UAE. In
addition, under management contracts Mediclinic Middle East
operates one hospital in Abu Dhabi and will open a 200-bed hospital
in the Kingdom of Saudi Arabia in mid-2022.
The Company's primary listing is on the London Stock Exchange ("
LSE ") in the United Kingdom, with secondary listings on the JSE
Ltd in South Africa and the Namibian Stock Exchange in Namibia.
Mediclinic also holds a 29.9% interest in Spire Healthcare Group
plc, a leading private healthcare group based in the United Kingdom
and listed on the LSE.
For further information, please contact:
Investor Relations, Mediclinic International plc
James Arnold, Head of Investor Relations
ir@mediclinic.com
+44 (0)20 3786 8181
Media queries
FTI Consulting
Ben Atwell/Ciara Martin - UK
+44 (0)20 3727 1000
Sherryn Schooling - South Africa
+27 (0)21 487 9000
Registered address : 6(th) Floor, 65 Gresham Street, London,
EC2V 7NQ, United Kingdom
Website: www.mediclinic.com
Corporate broker (United Kingdom) : Morgan Stanley & Co
International plc and UBS Investment Bank
JSE sponsor (South Africa): Rand Merchant Bank (A division of
FirstRand Bank Limited)
NSX sponsor (Namibia): Simonis Storm Securities (Pty) Ltd
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