TIDMMDC
RNS Number : 9636F
Mediclinic International plc
21 July 2021
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")
21 July 2021
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
This notification sets out details of the vesting and settlement
of awards over ordinary shares in the Company granted on 19 June
2019 in respect of the deferred element of the short-term incentive
("STI") scheme pay-out for the financial year ended 31 March 2019.
These awards were due to vest on 19 June 2021; however, in view of
the potential development of sensitive information at the time
relating to Ramsay Health Care's now expired offer for Spire, the
Committee judged it prudent to defer vesting until 20 July 2021
.
The awards were granted under the Company's previous
remuneration policy, approved by shareholders in July 2017.
Accordingly, they will be settled in cash on 27 July 2021 , based
on the middle-market quotation of a share on 19 July 2021, being
282.2 pence per share. The amount settled includes the value of
dividends attributable to the vested shares during the period
between the date of grant and the date of vesting, being a total of
7.90 pence per share.
The table below sets out the number of shares vested for the
directors who were granted awards under the STI on 19 June 2019,
together with the corresponding cash settlement.
Name Number of shares vested Cash settlement
(including dividend
equivalents)
Dr Carel Aron van der 21 962 GBP63 712
Merwe(1)
------------------------ ---------------------
Petrus Jurgens Myburgh(1) 14 417 GBP41 824
------------------------ ---------------------
Daniël Petrus Meintjes(2) 7 679 GBP22 277
------------------------ ---------------------
Note:
1. As Executive Directors, Dr Ronnie van der Merwe and Jurgens
Myburgh are required to build up and maintain a minimum holding of
shares equivalent to a value of 225% and 200% of their annual base
compensation respectively. As the holding requirements have not
been met, under the Company's Remuneration Policy, Ronnie van der
Merwe and Jurgens Myburgh are each required to use 50% of the net
of tax proceeds to purchase ordinary shares in Mediclinic.
2. As explained on page 171 of the 2019 Annual Report, upon
Danie Meintjes' retirement as an executive Director on 31 July
2018, the Remuneration Committee considered both investors'
expectations and South African labour market requirements in
determining the treatment of his outstanding incentive awards. In
accordance with his Service Agreement and the shareholder-approved
Directors' Remuneration Policy, it was agreed that Danie Meintjes
remained eligible to receive a pro-rated STI award in June 2019 in
respect of the period during which he served as an executive
Director (1 April 2018 to 31 July 2018).
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 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 Vesting and cash settlement of award over
transaction ordinary shares in Mediclinic International
plc granted in FY19 under the Company's
short-term incentive scheme
----------------------- ---------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBPnil 21 962
----------
----------------------- ---------------------------------------------
d) Aggregated information
Aggregated volume
Price
21 962
GBPnil
----------------------- ---------------------------------------------
e) Date of the 20 July 2021
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 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 Vesting and cash settlement of award over
transaction ordinary shares in Mediclinic International
plc granted in FY19 under the Company's
short-term incentive scheme
----------------------- ---------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBPnil 14 417
----------
----------------------- ---------------------------------------------
d) Aggregated information
Aggregated volume
Price
14 417
GBPnil
----------------------- ---------------------------------------------
e) Date of the 20 July 2021
transaction
----------------------- ---------------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- ---------------------------------------------
1. Details of PDMR / person closely associated with them
("PCA")
a) Name Daniël Petrus Meintjes
----------------------- ---------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------
a) Position / status Non-executive director 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 Vesting and cash settlement of award over
transaction ordinary shares in Mediclinic International
plc granted in FY19 under the Company's
short-term incentive scheme
----------------------- ---------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBPnil 7 679
----------
----------------------- ---------------------------------------------
d) Aggregated information
Aggregated volume
Price
7 679
GBPnil
----------------------- ---------------------------------------------
e) Date of the 20 July 2021
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 1 July 2021, Mediclinic comprised 74 hospitals, five subacute
hospitals, two mental health facilities, 18 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 50 hospitals (three
of which in Namibia), five sub-acute hospitals, two mental health
facilities and 12 day case clinics (four of which operated by
Intercare) across South Africa, and around 8 600 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 LSE in the UK, with
secondary listings on the JSE 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:
Company Secretary, Link Company Matters Limited
Caroline Emmet
+44 (0)333 300 1930
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 - United Kingdom
+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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END
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