Mediclinic Intnl plc - Director/PDMR Shareholding

15/12/2020

RNS Number : 7005I
Mediclinic International plc
15 December 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

South African income tax number: 9432434182

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

 

 

15 December 2020

 

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

Awards under the Company's Long-Term Incentive Plan

 

As disclosed in the Directors' Remuneration Report of 1 June 2020 for the year ending 31 March 2020 (the "FY20 DRR"), Mediclinic's Remuneration Committee had intended to disclose prospectively  the performance metrics for awards granted during the current financial year ("FY21") under the Company's Long-Term Incentive Plan (the "LTIP"). However, given the uncertainty presented by the COVID-19 pandemic (the "pandemic") and the difficulties associated with setting meaningful targets at the time, the Committee communicated that it had chosen to defer a decision on these metrics and levels of any awards made under the LTIP (typically granted in June) until later during FY21. The Committee debated these at length in recent months and, in line with the commitments made in the FY20 DDR, has consulted with major shareholders in advance of concluding on the matter.

 

Taking into consideration feedback received from shareholders, the Committee has now decided to approve the awards and corresponding metrics set out below.

 

Awards granted under the Company's Long-Term Incentive Plan

 

On 14 December 2020, awards over ordinary shares in Mediclinic ("shares") were granted to the following Directors and other persons discharging managerial responsibilities ("PDMRs") under the Company's LTIP, approved by shareholders on 22 July 2020.

 

Name

 

Director/ PDMR

Number of shares awarded under the LTIP1

Dr Carel Aron van der Merwe

Director

390 661

Petrus Jurgens Myburgh

Director

216 411

David John Hadley

PDMR

158 645

Gert Cornelis Hattingh

PDMR

83 946

Dr René Toua

PDMR

67 222

Magnus Oetiker

PDMR

125 538

Koert Hendrik Stefanus Pretorius

PDMR

87 651

Dr Dirk Cornelius le Roux

PDMR

65 787

Dr Daniel Liedtke

PDMR

156 076

Dr Tyson Bruno Welzel

PDMR

53 421

 

Note:

1

Directors' awards will be settled in shares upon vesting, and will be subject to a further two-year holding period. Awards granted to other PDMRS will be settled in cash upon vesting, also 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 vesting.

 

The awards made under the 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 £2.75 per share.

 

 FY21 LTIP Performance Conditions

 

Performance condition measured

Weighting

Threshold

(25% vesting)

Target

(62.5% vesting)

Stretch

(100% vesting)

Adjusted EPS for FY23 (pence)1

40%

25.0p

29.0p

33.0p

TSR ranked relative to constituents of the FTSE 250 Index excluding financial services and extraction (measured over three financial years)

25%

50th percentile

62.5th percentile

75th percentile

ROIC for final year (FY23)

25%

4.5%

5.0%

6.0%

Patient Experience Index

10%

Based on the consolidated score of the three divisions

achievement over the performance period2.

 

Notes:

1

Continues to be measured on a constant currency basis.

2

Given the impact of COVID-19 on Patient Experience scores, the Committee is continuing to keep the approach to the measurement of this element of the plan under review. Further details on the approach will be set out in the 2021 Directors' Remuneration Report.

 

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 - 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

390 661

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

390 661

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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.

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

216 411

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

216 411

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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

158 645

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

158 645

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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

83 946

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

83 946

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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

67 222

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

67 222

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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

125 538

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

125 538

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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

87 651

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

87 651

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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

65 787

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

65 787

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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

156 076

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

156 076

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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

53 421

 

d)

Aggregated information

 

Aggregated volume

 

Price

 

 

 

53 421

 

£nil

 

e)

Date of the transaction

14 December 2020

 

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 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 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

Jayne Meacham / Caroline Emmet

+44 (0)20 7954 9569

 

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: 6th 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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