Director/PDMR Shareholding

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 Merwe1	21 962	£63 712
Petrus Jurgens Myburgh1	14 417	£41 824
Daniël Petrus Meintjes2	7 679	£22 277

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 / amendment	Initial Notification
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 of the financial instrument Identification Code	Ordinary shares GB00B8HX8Z88
b)	Nature of the transaction	Vesting and cash settlement of award over ordinary shares in Mediclinic International plc granted in FY19 under the Company's short-term incentive scheme
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 21 962
d)	Aggregated information Aggregated volume Price	21 962 £nil
e)	Date of the transaction	20 July 2021
f)	Place of the transaction	Outside a trading venue

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 / amendment	Initial Notification
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 of the financial instrument Identification Code	Ordinary shares GB00B8HX8Z88
b)	Nature of the transaction	Vesting and cash settlement of award over ordinary shares in Mediclinic International plc granted in FY19 under the Company's short-term incentive scheme
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 14 417
d)	Aggregated information Aggregated volume Price	14 417 £nil
e)	Date of the transaction	20 July 2021
f)	Place of the transaction	Outside a trading venue

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 / amendment	Initial Notification
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 of the financial instrument Identification Code	Ordinary shares GB00B8HX8Z88
b)	Nature of the transaction	Vesting and cash settlement of award over ordinary shares in Mediclinic International plc granted in FY19 under the Company's short-term incentive scheme
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 7 679
d)	Aggregated information Aggregated volume Price	7 679 £nil
e)	Date of the transaction	20 July 2021
f)	Place of the transaction	Outside a trading venue

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

[phone]

Investor Relations, Mediclinic International plc

James Arnold, Head of Investor Relations

[e-mail]

[phone]

Media queries

FTI Consulting

Ben Atwell/Ciara Martin - United Kingdom

[phone]

Sherryn Schooling - South Africa

[phone]

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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