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Result of AGM

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RNS Number : 6311G
Mediclinic International plc
25 July 2019
 

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")

 

 

25 July 2019

 

ANNOUNCEMENT OF THE ANNUAL GENERAL MEETING POLL RESULTS

 

Mediclinic announces that at its Annual General Meeting ("AGM") held on 24 July 2019, all resolutions set out in the notice of the AGM were passed by the requisite majority of votes by shareholders by way of poll. The results of the poll for each resolution were as follows:

 

 

 

 

Total Shares Voted

% of Issued Share Capital Voted

Votes For

%

Votes Against

%

Votes Withheld

 

Ordinary Resolutions

 

 

 

 

 

 

 

1.

To receive the Company's financial statements and the reports of the Directors and auditor

651,940,713

88.43

651,933,735

100.00

6,978

0.00

811,572

2

To approve the Directors' Remuneration Report

639,306,513

86.72

456,707,341

71.44

182,599,172

28.56

13,445,771

3.

To declare a final dividend of 4.70 pence per ordinary share

652,546,926

88.51

652,543,691

100.00

3,235

0.00

205,359

4.

To elect Dr Anja Oswald as a Director

652,548,766

88.51

640,718,620

98.19

11,830,146

1.81

203,519

5.

To re-elect Dr Ronnie van der Merwe as a Director

652,544,766

88.51

651,316,911

99.81

1,227,855

0.19

207,519

6.

To re-elect Mr Jurgens Myburgh as a Director

652,461,766

88.50

650,647,906

99.72

1,813,860

0.28

290,519

7.

To re-elect Dr Edwin Hertzog as a Director

646,065,630

87.63

623,481,653

96.50

22,583,977

3.50

6,686,654

8.

To re-elect Dr Muhadditha Al Hashimi as a Director

652,543,321

88.51

652,442,657

99.98

100,664

0.02

208,964

9.

To re-elect Mr Jannie Durand as a Director

646,065,631

87.63

604,064,308

93.50

42,001,323

6.50

6,686,654

10.

To re-elect Mr Alan Grieve as a Director

646,065,211

87.63

641,261,092

99.26

4,804,119

0.74

6,687,074

11.

To re-elect Dr Felicity Harvey as a Director

652,544,766

88.51

652,447,353

99.99

97,413

0.01

207,519

12.

To re-elect Mr Seamus Keating as a Director

652,544,766

88.51

640,707,466

98.19

11,837,300

1.81

207,519

13.

To re-elect Mr Danie Meintjes as a Director

645,955,026

87.62

642,611,449

99.48

3,343,577

0.52

6,797,258

14.

To re-elect Mr Trevor Petersen as a Director

652,542,691

88.51

639,472,536

98.00

13,070,155

2.00

209,594

15.

To re-appoint PricewaterhouseCoopers LLP as auditor of the Company

652,545,158

88.51

646,028,433

99.00

6,516,725

1.00

207,127

16.

To authorise the Audit and Risk Committee to determine the remuneration of the auditor

652,544,645

88.51

652,259,510

99.96

285,135

0.04

207,640

17.

To authorise the Directors to make political donations

652,428,001

88.50

548,136,283

84.01

104,291,718

15.99

324,284

18.

To authorise the Directors to allot ordinary shares

652,548,147

88.51

514,756,732

78.88

137,791,415

21.12

204,138

 

Special Resolutions

 

 

 

 

 

 

 

19.

To authorise the Directors to dis-apply statutory pre-emption rights

652,544,590

88.51

569,519,112

87.28

83,025,478

12.72

207,695

20.

To authorise the Directors to dis-apply pre-emption rights for purposes of acquisitions or capital investments

652,544,589

88.51

568,339,245

87.10

84,205,344

12.90

207,695

21.

To approve the calling of general meetings on not less than 14 days' clear notice (other than annual general meetings)

652,544,849

88.51

608,821,495

93.30

43,723,354

6.70

207,436

 

 

VOTES OF SHAREHOLDERS EXCLUDING THE CONTROLLING SHAREHOLDER ON ELECTION AND RE-ELECTION OF INDEPENDENT NON-EXECUTIVE DIRECTORS

 

 

Ordinary Resolutions

Total Shares Voted

% of Issued Share Capital Voted

Votes For

%

Votes Against

%

Votes Withheld

4.

To elect Dr Anja Oswald as a Director

324,050,878

79.28

312,220,732

96.35

11,830,146

3.65

203,519

8.

To re-elect Dr Muhadditha Al Hashimi as a Director

324,045,433

79.28

323,944,769

99.97

100,664

0.03

208,964

10.

To re-elect Mr Alan Grieve as a Director

317,567,323

77.69

312,763,204

98.49

4,804,119

1.51

6,687,074

11.

To re-elect Dr Felicity Harvey as a Director

324,046,878

79.28

323,949,465

99.97

97,413

0.03

207,519

12.

To re-elect Mr Seamus Keating as a Director

324,046,878

79.28

312,209,578

96.35

11,837,300

3.65

207,519

14.

To re-elect Mr Trevor Petersen as a Director

324,044,803

79.28

310,974,648

95.97

13,070,155

4.03

209,594

 

Notes:

 

1.

Any proxy appointments giving discretion to the Chairman of the Meeting have been included in the "For" total.

 

2.

A vote "Withheld" is not a vote in law and is not counted in the calculation of the votes "For" or "Against" a resolution.

 

3.

The Company's total ordinary shares in issue (total voting rights) as at 24 July 2019 was 737 243 810 ordinary shares of 10 pence each. Ordinary shareholders are entitled to one vote per ordinary share held.

 

4.

As the Company has a controlling shareholder, Remgro Limited, as defined in the Financial Conduct Authority's Listing Rules, each resolution to elect an independent non-executive director (Resolutions 4, 8, 10 to 12 and 14) have under Listing Rule 9.2.2E been approved by a majority of the votes cast by:

(a) the shareholders of the Company as a whole; and

(b) the independent shareholders of the Company, that is, all the shareholders entitled to vote on each resolution, excluding the controlling shareholder.

 

Statement regarding voting results

 

The Board notes that while Resolutions 2 and 18 were passed with a majority of 71.44% and 78.88% respectively, a number of our shareholders opposed these resolutions.

 

The views of all shareholders are important to us and we are disappointed in this outcome. We will reflect carefully on the different feedback already received and continue to engage with shareholders on this important issue, to understand more fully the reasons for their position.

 

We will publish an update on that engagement within six months of the AGM. In the meantime, the Board notes that as indicated in our 2019 Annual Report, we expect to seek shareholder approval for a new Directors' Remuneration Policy at our AGM in 2020 in line with the normal cycle for renewal and taking into consideration investors' feedback.

 

Additionally, the voting outcome on Resolution 18 reflects the prevailing institutional voting policies in South Africa. As a company with a primary premium listing on the London Stock Exchange, the Board considers it appropriate to seek authorities in line with the UK Investment Association's Share Capital Management Guidelines, which provide the Company with greater flexibility to respond to market developments and business opportunities as they arise. Many of our South African institutional investors understand the Company's position but they operate under mandates that do not allow them to support this level of flexibility. We will continue to engage with our South African shareholders on this topic; however in view of the marked differences between UK and South African market practice in this area, it is likely that there will continue to be significant votes against this resolution (and, as a consequence, the resolutions regarding the disapplication of pre-emption rights).

 

In accordance with paragraph 9.6.2 of the Listing Rules, a copy of the resolutions passed at the meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM

 

The complete poll results and details of proxy votes lodged before the AGM will be available shortly on the Investor Relations section of the Company's website at http://ir.mediclinic.com.   

 

 

About Mediclinic International plc

 

Mediclinic is an 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.

 

The Group's core purpose is to enhance the quality of life by way of appropriate healthcare services.

 

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.

 

Mediclinic comprises 77 hospitals, five sub-acute hospitals, 13 day case clinics and 21 outpatient clinics. Hirslanden operates 18 hospitals, two day case clinics and three outpatient clinics in Switzerland with more than 1 900 inpatient beds; Mediclinic Southern Africa operates 52 hospitals, five sub-acute hospitals and 9 day case clinics with more than 8 500 inpatient beds; and Mediclinic Middle East operates seven hospitals, two day case clinics and 21 outpatient clinics with more than 900 inpatient beds in the United Arab Emirates.

 

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:

 

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

[email protected]

+44 (0)20 3786 8181

 

Media queries

FTI Consulting

Brett Pollard/Debbie Scott - 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

Joint corporate brokers: Morgan Stanley & Co International plc and UBS Investment Bank

JSE Ltd sponsor: Rand Merchant Bank (A division of FirstRand Bank Ltd)

NSX sponsor: Simonis Storm Securities (Pty) Ltd

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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