Director/PDMR Shareholding

RNS Number : 9458A

Mediclinic International plc

07 June 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

South African income tax number: 9432434182

("Mediclinic", the "Company", or the "Group")

7 June 2021

NOTIFICATION: TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES & PERSONS CLOSELY ASSOCIATED WITH THEM

This notification sets out the details of awards over ordinary shares in Mediclinic ("Shares") granted to directors and other persons discharging managerial responsibilities ("PDMRs") on 4 June 2021 under the Company's short-term incentive scheme (the "STI") and long-term incentive plan (the "LTIP").

Awards granted under the Company's STI and LTIP

On 4 June 2021, awards over Shares were granted to the following directors and other PDMRs under the Company's STI and LTIP, in accordance with the remuneration policy approved by shareholders in July 2020 (the "Remuneration Policy"):

Name	Director/ PDMR	Number of Shares awarded under the FY21 STI	Number of Shares awarded under the LTIP
Dr Carel Aron van der Merwe	Director	122 614	356 181
Petrus Jurgens Myburgh	Director	80 655	190 569
David John Hadley	PDMR	n/a	122 259
Gert Cornelis Hattingh	PDMR	n/a	72 993
Dr Dirk Cornelius le Roux	PDMR	n/a	57 158
Dr Daniel Liedtke	PDMR	n/a	118 270
Magnus Oetiker	PDMR	n/a	96 910
Koert Hendrik Stefanus Pretorius	PDMR	n/a	76 408
Dr René Toua	PDMR	n/a	59 487
Dr Tyson Bruno Welzel	PDMR	n/a	47 688

Awards under the STI and LTIP were granted for nil consideration and are based on the average of the middle-market quotations of a Share during a period of five dealing days ending with the dealing day before the day of grant, which equates to £3.35 per Share.

STI awards

The Remuneration Committee (the "Committee") considered at length the pay-out under the STI to the executive directors in respect of the financial year ended 31 March 2021 ("FY21"), taking into account financial and overall business performance and the experience of shareholders, employees and clients.

The performance delivered against the pre-defined adjusted EBIT target resulted in a pay-out of 100% of a maximum bonus.

The Committee reviewed the clinical quality, client experience and employee engagement performance for the Group and considered that the formulaic outcome was an appropriate reflection of the Group's overall performance, and the performance and leadership by the executives of the business through COVID-19. However, the Committee was acutely aware that the dividend was likely to remain suspended as part of the Group's broad response to maintaining its liquidity position, and as such, determined that it would be appropriate for the release of the STI to be conditional on the Company's dividend being reinstated. The payment of the cash proportion of the FY21 STI (50%) was therefore deferred until such time. The remaining 50% of the bonus award was deferred into shares, with the awards subject to the reinstatement of the Company's dividend as well as the usual two-year vesting period and continued employment condition under the Remuneration Policy.

Further details on the Committee's decision regarding the FY21 STI are set out in the Remuneration Committee Report included in the Group's Annual Report and Financial Statements for the year ended 31 March 2021 (the "FY21 Annual Report"), which will be published towards the end of June 2021.

LTIP awards

On 4 June 2021, the Committee also granted awards under the Company's LTIP to the Group Chief Executive Office and Group Chief Financial Officer with a face value equivalent to 200% and 150% of salary, respectively (the "FY22 LTIP Awards"). The Committee considered it appropriate to grant awards in line with the normal maximum levels under the Remuneration Policy taking into account share price performance since the grant of FY21 LTIP Awards and the level of stretch included in the performance targets. Awards were also granted to the other members of the Group Executive Committee. The Committee will also use its discretion to amend the vesting outcome where it considers that it is not representative of business performance. This includes consideration of any potential 'windfall gains' at the point of vesting.

Awards granted under the LTIP are structured as conditional awards, with vesting being subject to the satisfaction of performance conditions over a three-year period. Awards granted to the executive directors will be settled in shares upon vesting, and will be subject to a further two-year holding period.

Details of the performance conditions for the FY22 LTIP Awards are set out in the Remuneration Committee Report included in the Group's FY21 Annual Report.

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 - Mediclinic International plc
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
4.1	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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Short-Term Incentive
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 122 614
d)	Aggregated information Aggregated volume Price	122 614 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue
4.2	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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 356 181
d)	Aggregated information Aggregated volume Price	356 181 £nil
e)	Date of the transaction	4 June 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	Group Chief Financial Officer - Mediclinic International plc
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
4.1	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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Short-Term Incentive
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 80 655
d)	Aggregated information Aggregated volume Price	80 655 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue
4.2	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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 190 569
d)	Aggregated information Aggregated volume Price	190 569 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	David John Hadley
2.	Reason for the notification
a)	Position / status	Chief Executive Officer - Mediclinic Middle East
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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 122 259
d)	Aggregated information Aggregated volume Price	122 259 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Gert Cornelis Hattingh
2.	Reason for the notification
a)	Position / status	Group Chief Governance Officer - Mediclinic International plc
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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 72 993
d)	Aggregated information Aggregated volume Price	72 993 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Dr Dirk Cornelius le Roux
2.	Reason for the notification
a)	Position / status	Group Chief Information Officer - Mediclinic International plc
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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 57 158
d)	Aggregated information Aggregated volume Price	57 158 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Dr Daniel Liedtke
2.	Reason for the notification
a)	Position / status	Chief Executive Officer: Hirslanden
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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 118 270
d)	Aggregated information Aggregated volume Price	118 270 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Magnus Oetiker
2.	Reason for the notification
a)	Position / status	Group Chief Strategy and Human Resources Officer - Mediclinic International plc
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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 96 910
d)	Aggregated information Aggregated volume Price	96 910 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Koert Hendrik Stefanus Pretorius
2.	Reason for the notification
a)	Position / status	Chief Executive Officer - Mediclinic Southern Africa
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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 76 408
d)	Aggregated information Aggregated volume Price	76 408 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Dr René Toua
2.	Reason for the notification
a)	Position / status	Group Chief Clinical Officer - Mediclinic International plc
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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 59 487
d)	Aggregated information Aggregated volume Price	59 487 £nil
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Dr Tyson Bruno Welzel
2.	Reason for the notification
a)	Position / status	Group Chief Innovation Officer - Mediclinic International plc
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	Award over ordinary shares in Mediclinic International plc granted at nil cost under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 47 688
d)	Aggregated information Aggregated volume Price	47 688 £nil
e)	Date of the transaction	4 June 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 31 March 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 London Stock Exchange ("LSE") in the United Kingdom, 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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