13:00 Mon 24 Jun 2019
Mediclinic Intnl plc - Director/PDMR Shareholding
(Incorporated in
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")
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND 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
Awards granted under the Company's Short-Term Incentive Scheme
and Long-Term Incentive Plan
On
|
Director/ PDMR |
Number of Shares awarded under the STI |
Number of Shares awarded under the LTIP |
Dr |
Director |
21 962 |
373 437 |
|
Director |
14 417 |
206 456 |
|
Director |
7 679 |
n/a |
|
PDMR |
n/a |
137 370 |
|
PDMR |
n/a |
81 466 |
Dr |
PDMR |
n/a |
63 964 |
|
PDMR |
n/a |
108 746 |
|
PDMR |
n/a |
88 928 |
Dr |
PDMR |
n/a |
63 964 |
Mr |
PDMR |
n/a |
129 015 |
The awards made 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
Short-term incentive awards to be made in 2019
Performance delivered against the pre-defined targets for the STI (including both financial and non-financial metrics) resulted in a pay-out of 16.5% of a maximum bonus, as explained in the Directors' Remuneration Report on pages 160 and 169 of the 2019 Annual Report. Given that the long-term incentive awards vesting in 2019 had lapsed in full (as the performance targets were not achieved), the Remuneration Committee considered that a relatively small pay-out under the STI was appropriate as it reflected the sustained efforts of senior management and progress made by the Group to adapt to the challenges in the healthcare services industry.
Consistent with the Company's Remuneration Policy, 50% of the award was paid in cash and 50% was deferred in shares for a period of two years. Deferred shares will be settled in cash, subject to continued employment. This deferral is subject to employment conditions only; no further performance conditions apply.
Long-term incentive awards to be made in 2019
As set out in the Remuneration Report (on page 159 of the 2019 Annual Report), in line with the normal three-year cycle of the Remuneration Policy, the Remuneration Committee intends to undertake a full-scale review of the Group's approach to remuneration during the course of the coming year to ensure that it remains fit-for-purpose in aligning the executive team's remuneration with the long-term success of Mediclinic. Nonetheless, the Remuneration Committee intends to make minor changes to the way in which the Remuneration Policy is implemented over the course of the coming year to ensure that LTIPs are aligned with the Group's strategic priorities, in particular through the introduction of a return on invested capital ("ROIC") underpin to LTIP awards which allows the Remuneration Committee to review the formulaic level of vesting delivered under the Earnings per Share and relative Total Shareholder Return performance conditions based on the ROIC performance of the Company over the period. Details of the changes are set out within the letter from the Chairperson of the Remuneration Committee on pages 160-161 of the 2019 Annual Report.
In line with previous years, on
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. Executive Directors of Mediclinic will be required to hold vested awards for a further two years (i.e. until the fifth anniversary of grant).
2019 STI award to
As explained in the Section 430(2B) announcement made on
Awards settled under the Company's Short-Term Incentive Scheme
Awards granted to Directors on
The table below sets out the number of shares vested for the Directors who were granted awards under the STI on
|
Number of Shares vested |
Cash Settlement (including dividend equivalents) |
|
10 815 |
|
|
27 187 |
|
Notes:
1 As Chief Financial Officer,
2
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) |
|
Dr
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Chief Executive Officer -
|
||||
b) |
Initial notification / amendment |
Initial Notification
|
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
373 437
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
21 962
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Chief Financial Officer -
|
||||
b) |
Initial notification / amendment |
Initial Notification
|
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
206 456
£nil
|
||||
e) |
Date of the transaction |
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
14 417
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
||||
4.(3) |
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 |
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
10 815
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Executive Director -
|
||||
b) |
Initial notification / amendment |
Initial Notification
|
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
7 679
£nil
|
||||
e) |
Date of the transaction |
|
||||
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 |
Vesting and cash settlement of award over ordinary shares in |
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
27 187
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Chief Executive Officer -
|
||||
b) |
Initial notification / amendment |
Initial Notification
|
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
137 370
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Chief Corporate Services 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) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
81 466
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
Dr
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Group Chief Clinical Officer -
|
||||
b) |
Initial notification / amendment |
Initial Notification
|
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
63 964
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Chief HR and Corporate Development Officer -
|
||||
b) |
Initial notification / amendment |
Initial Notification
|
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
108 746
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Chief Executive Officer -
|
||||
b) |
Initial notification / amendment |
Initial Notification
|
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
88 928
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
Dr
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
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) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
63 964
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
1. |
Details of PDMR / person closely associated with them ("PCA")
|
|||||
a) |
|
Mr
|
||||
2. |
Reason for the notification
|
|||||
a) |
Position / status |
Chief Executive Officer: |
||||
b) |
Initial notification / amendment |
Initial Notification
|
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
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
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume
Price |
129 015
£nil
|
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
About
Mediclinic is an international private healthcare services group, established in
The Group's core purpose is to enhance the quality of life.
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, 12 day case clinics and 21 outpatient clinics.
The Company's primary listing is on the
Mediclinic also holds a 29.9% interest in Spire Healthcare Group plc, a leading private healthcare group based in the
For further information, please contact:
Company Secretary,
+44 (0)20 7954 9569
Investor Relations,
+44 (0)20 3786 8181
Media queries
FTI Consulting
+44 (0)20 3727 1000
+27 (0)21 487 9000
Registered address: 6th Floor,
Website: www.mediclinic.com
Joint corporate brokers:
JSE Ltd sponsor:
NSX sponsor:
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