|Shareholders on the South African register of the Company are referred to Mediclinic?s announcement of the interim results for the six months ended 30 September 2017 and the declaration of dividend released on the Stock Exchange News Service and on the Regulatory News Service on 16 November 2017, confirming that the Board of Directors of Mediclinic had approved an interim dividend from retained earnings of 3.20 pence per ordinary share for the six months ended 30 September 2017.|
The interim dividend will be paid on Monday, 18 December 2017 to all ordinary shareholders who are on the register of members at the close of business on the record date of Friday, 8 December 2017.
Shareholders on the South African register will be paid the ZAR cash equivalent of 59.87200 cents (47.89760 cents net of dividend withholding tax) per share. A dividend withholding tax of 20% will be applicable to all shareholders on the South African register who are not exempt therefrom. The ZAR cash equivalent has been calculated using the following exchange rate: GBP1: ZAR18.71, being the five-day average ZAR/GBP exchange rate (Bloomberg) on Friday, 10 November 2017 at 3:00pm GMT.
|Mediclinic International plc announces the appointment of Dr Carel Aron (Ronnie) van der Merwe, currently Mediclinic?s Group Chief Clinical Officer, as Chief Executive Officer (?CEO?) Designate to succeed Danie Meintjes as CEO of the Company on a date to be mutually agreed, but not later than 1 August 2018. This follows the announcement made on 25 July 2017 that Mr Meintjes will retire from his position as Chief Executive Officer and a director of the Company by no later than 31 July 2018.|
As CEO of Mediclinic, Dr Van der Merwe will receive an annual salary and board fees amounting to GBP520 367* and he will also be eligible to participate in the Company?s short term incentive scheme (?STI?) and long term incentive plan (?LTIP?), designed to incentivise and reward the successful delivery of the business strategy and sustained shareholders value creation. Dr Van der Merwe?s maximum award opportunity under the STI will be 150% of his annual salary, half of which will be subject to a compulsory deferral for a period of two years. Awards under the LTIP are up to a maximum value of 200% of annual salary, with vesting subject to performance over a three year period and an additional two-year holding period required following vesting and prior to their release. In accordance with best practice both the bonus and LTIP contains provisions that will allow the Company to recover or withhold value in the event of certain defined circumstances. Dr Van der Merwe?s service agreement may be terminated on six months? notice by either side.
Dr Van der Merwe holds 30 630 shares in the Company and will be expected to build and maintain his shareholding in the Company to the value of 225% of his annual base salary and retain no less than 50% of the net share releases from his deferred bonus and LTIP awards until this requirement is met.
The above remuneration package and arrangements match those of the departing CEO, Danie Meintjes, and are consistent with the terms of the Directors? Remuneration Policy approved by shareholders at the Annual General Meeting held in July 2017.
*The GBP cash equivalent has been calculated using the following exchange rate: GBP1: ZAR 18.52, being the 5-day average GBP/ ZAR exchange rate on Friday, 24 November 2017 at 3:00pm GMT Bloomberg.
|Further to the announcements made by Spire Healthcare Group plc (?Spire?) and Mediclinic in relation to Mediclinic?s possible offer for the entire issued and to be issued share capital of Spire not already owned by it or its subsidiaries, Mediclinic confirms that, following further consideration and discussions with the independent directors of Spire, it was unable to reach agreement on the terms of a transaction.|
Accordingly, Mediclinic does not intend to make an offer for Spire and is bound by the restrictions under Rule 2.8 of the City Code on Takeovers and Mergers (the ?Code?).
Mediclinic is disappointed that it could not reach an agreement with the independent directors of Spire but will continue to take a disciplined approach to capital allocation to ensure investments are in the best interests of Mediclinic shareholders. Mediclinic has every intention of remaining a supportive shareholder of Spire.
For the purposes of Rule 2.8 and other relevant provisions of the Code, Mediclinic reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for Spire or to take any other action which would otherwise be restricted under Rule 2.8 of the Code, within the next six months following the date of this announcement, in the circumstances set out in Note 2 to Rule 2.8 of the Code or otherwise with the consent of the UK Takeover Panel.
A copy of this announcement will be available on Mediclinic?s corporate website at www.mediclinic.com. The content of this website is not incorporated into, and does not form part of, this announcement.
|Mediclinic announces that Dr Muhadditha Yahya Al Hashimi will join its board as an independent non- executive director with effect from 1 November 2017. |
|Mediclinic announced that Dr Felicity A. H. Harvey CBE is to join its Board as an Independent Non- Executive Director and an additional member of the Clinical Performance and Sustainability Committee with effect from 3 October 2017.|
|The Company?s annual compliance report in terms of section 13G(2) of the South African Broad-Based Black Economic Empowerment Act, 53 of 2003, as amended, (the ?B-BBEE Act?) was submitted to the Broad-Based Black Economic Empowerment Commission. The compliance report is available in the governance section of Mediclinic?s website at www.mediclinic.com. The compliance report relates to the assessment of the broad-based black economic empowerment status of Mediclinic Southern Africa (Pty) Ltd., a wholly-owned subsidiary of the Company, in respect of the Company?s operations in South Africa.|
|Mediclinic announced that at its Annual General Meeting (?AGM?) held on 25 July 2017, all resolutions set out in the notice of the AGM were passed by the requisite majority of votes by shareholders by way of poll.|
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 company?s website at www.mediclinic.com.
|The Company announced that on 24 July 2017, Mr Danie Meintjes informed the Board of his intention to retire from his position as Chief Executive Officer and a director of the Company by 31 July 2018. The Nomination Committee will begin a search to identify a successor, to facilitate a smooth transition. Updates on this process will be announced when appropriate.|
|Mediclinic?s Annual Report and Financial Statements in respect of the financial year ended 31 March 2017 (?2017 Annual Report?) is being posted to shareholders, together with the Notice of Annual General Meeting and Form of Proxy in relation to the Company?s annual general meeting to be held on Tuesday, 25 July 2017 at the Rosewood London Hotel, 252 High Holborn, London, WC1V 7EN at 15:00 (BST).|
In accordance with Listing Rule 9.6.1, the above documents will be submitted to the UK Listing Authority via a National Storage Mechanism and will shortly be available to the public for inspection at www.morningstar.co.uk/NSM. The documents will also be made available on the Company's website at www.mediclinic.com
The Company released its preliminary results on 24 May 2017 (RNS No. 0335G), and this announcement should be read in conjunction with that announcement. The financial information contained in the preliminary results announcement does not constitute the Company?s statutory accounts for the years ended 31 March 2016 and 2017, but is derived from those accounts. Statutory accounts for year ended 31 March 2017 will be delivered to the Registrar of Companies in due course. The Company?s auditors have reported on those accounts; their report was (i) unqualified, (ii) did not include a reference to any matters to which the auditors drew attention by way of emphasis without qualifying their report, and (ii) did not contain a statement under Section 498(2) or (3) of the Companies Act 2006. The text of the auditors? report can be found in the Company?s 2017 Annual Report.
|Mediclinic noted statements made on 26 April 2017 by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. His Highness has ordered the waiving of the 20% co-payment for holders of a Thiqa medical insurance card, when receiving treatment at the private healthcare facilities in Abu Dhabi, with immediate effect. The statements have been reported on the official news agency of the UAE (Wakalat Anba'a al Emarat). The Group awaits to receive precise details of the changes from the Health Authority Abu Dhabi (?HAAD?).|
On 1 July 2016, HAAD introduced a 20% co-payment for Thiqa patients (those covered by health insurance for UAE Nationals or others of similar status in Abu Dhabi) using private healthcare facilities.
Mediclinic will continue to monitor the regulatory environment and the extent to which these changes will affect the Middle East operating platform.
|Mediclinic announced the following updates in the regulatory environment of Hirslanden, its operating platform in Switzerland.|
In the Group?s interim results announcement on 10 November 2016, Mediclinic stated that the canton of Zurich was considering a levy on the proportion of privately insured patients treated in listed hospitals, including Klinik Hirslanden, known as the VVG levy and that the Swiss national outpatient tariff (?TARMED?) was still in revision.
On Monday, 10 April 2017, the Zurich Cantonal Parliament voted not to approve the proposed VVG levy.
On TARMED, the Swiss Federal Government has released proposed adjustments as a transitional solution whilst healthcare providers and funders continue to negotiate and agree a revised TARMED tariff structure. The government proposal is targeting annual savings of around CHF700m across the public and private outpatient sectors. Outpatient services contribute less than 20% of Hirslanden revenues. Due to its implementation date on 1 January 2018, the impact on Hirslanden is expected to be limited in the 2018 financial year (to 31 March 2018). Based on initial analyses of the complex proposal, the expected annualised impact on Hirslanden outpatient revenues could be around 10% before any mitigating actions are considered which could include improved utilisation and increased efficiencies.
The Zurich Cantonal Parliament has also approved an amendment to the cantonal hospital law, providing a legal basis for the cantonal government to create a list of interventions that in future should generally be treated as outpatient rather than inpatient services. The final list of interventions will be agreed following a working group review.
|The company announces that, following a review of the composition of the board committees, the membership of the committees will be as follows, with effect from 17 March 2017.|
*The Audit and Risk Committee will continue to be chaired by Desmond Smith and its other members will comprise Alan Grieve, Seamus Keating and Trevor Petersen.
*The Remuneration Committee will continue to be chaired by Trevor Petersen and its other members will comprise Prof Dr Robert Leu and Seamus Keating.
*The Nomination Committee will be chaired by Dr Edwin Hertzog and its other members will comprise Jannie Durand (with Pieter Uys as his alternate), Prof Dr Robert Leu, Trevor Petersen and Desmond Smith.
*The Clinical Performance and Sustainability Committee will continue to be chaired by Dr Edwin Hertzog and its members will comprise Nandi Mandela, Danie Meintjes and Prof Dr Robert Leu.
*The Investment Committee will continue to be chaired by Dr Edwin Hertzog and its other members will comprise Jannie Durand (with Pieter Uys as his alternate), Alan Grieve, Seamus Keating, Danie Meintjes and Jurgens Myburgh.
|The company announces that Mr Ian Tyler, the company?s senior independent director, resigned as a director of the company with effect from 21 February 2017.|
Mr Desmond Smith has been appointed as the senior independent director, in the place of Ian Tyler.
|Mediclinic International plc (?Mediclinic?) will be announcing its pre-close trading update on 27 September 2016 ahead of the publication of Mediclinic?s half year results for the six months ending 30 September 2016 on 10 November 2016. |
|During 2005 Mediclinic International (RF) (Pty) Ltd. (previously Mediclinic International Ltd. (?Mediclinic SA?) implemented a black ownership initiative with MP1 Investment Holdings (Pty) Ltd. (previously Circle Capital Ventures (Pty) Ltd.) (?MP1?) and Phodiso Holdings Ltd. (?Phodiso?) (collectively, the ?Strategic Black Partners?). |
Following completion in February 2016 of Mediclinic SA's combination with the company (the ?Combination?), the company today announces that it has entered into arrangements with the Strategic Black Partners to formalise the basis on which the Strategic Black Partners hold their shares in the company. These are in the same form in all material aspects as the arrangements in existence prior to the Combination. However, the company now receives the direct benefit of the lock-in arrangements described below.
The arrangements that originally applied to the holdings of the Strategic Black Partners in relation to their shares in Mediclinic SA before completion of the Combination continue to apply to their holdings of shares in the company such that:
- in the case of the 24 582 960 shares held by Phodiso through its subsidiary Mpilo Investment Holdings 2 (RF) (Pty) Ltd. (?Mpilo 2?), representing approximately 3.33% of the company?s issued share capital, disposals of such shares are restricted until 31 December 2018; and
- in the case of the 10 958 206 shares held by MP1 through its subsidiary Mpilo 1 Newco (RF) (Pty) Ltd. (?Mpilo 1?), representing approximately 1.49% of the company?s issued share capital, disposals of such shares are restricted until 31 December 2019.
The arrangements also contain pre-emptive rights in favour of the company which provide that, if any of the shares in the company or shares in one of the Strategic Black Partners? Mediclinic holding companies are to be offered for sale, the company will be offered the opportunity to purchase such shares or to nominate another person to purchase such shares, in each case, at a discounted price of, approximately, in relation to the Mpilo 1 shares, 5% to the then market value and, in relation to the Mpilo 2 shares, 10%. Any exercise of a right to purchase such shares by the company itself would require the approval of its shareholders.
|Mediclinic announced that at its Annual General Meeting (?AGM?) held on 20 July 2016, all resolutions set out in the notice of the AGM were passed by the requisite majority of votes by shareholders by way of poll.|
|Mediclinic International plc (?Mediclinic? or the ?Company?), a leading international private healthcare group, announces completion of the refinancing of the Mediclinic Bridge Facility associated with the company?s combination with Al Noor Hospitals Group plc.|
Summary of new facilities:
*South African senior bank loan totalling ZAR1.2 billion at an interest rate of JIBAR +1.69% with a 3-year term expiring in June 2019
*South African unsecured preference share funding totalling ZAR1.5 billion at a rate of 73% of the prime overdraft interest rate, with a 4-year term expiring in June 2020
*United Arab Emirates bank loans of USD54.5 million and USD100.0 million at an interest rate of LIBOR + 2.75% with respective 4-year and 5-year amortising terms, expiring in June 2020 and May 2021
The remainder of the GBP266 million drawn down from the Mediclinic Bridge Facility has been satisfied by a USD64.5 million payment from existing cash resources.
|Mediclinic International plc (the ?Company?) has posted to shareholders its Annual Report and Financial Statements in respect of the financial year ended 31 March 2016 (?2016 Annual Report?), as well as the Notice of Annual General Meeting and Form of Proxy in relation to the company?s annual general meeting to be held on Wednesday, 20 July 2016 at the Rosewood London Hotel, 252 High Holborn, London, WC1V 7EN at 15:00 (UK time).|
In accordance with Listing Rule 9.6.1, the above documents will be submitted to the UK Listing Authority via a National Storage Mechanism and will shortly be available to the public for inspection at www.morningstar.co.uk/NSM.
The documents are also available on the company's website at www.mediclinic.com.
The company released its preliminary results on 25 May 2016 (RNS No. 1973Z), and this announcement should be read in conjunction with this. The financial information contained in the preliminary results announcement does not constitute the company?s statutory accounts for the years ended 2015 and 2016 but is derived from those accounts. Statutory accounts for 2016 will be delivered to the Registrar of Companies in due course. The Auditors have reported on those accounts; their report was (i) unqualified, (ii) did not include a reference to any matters to which the Auditors drew attention by way of emphasis without qualifying their report and (ii) did not contain a statement under Section 498(2) or (3) of the Companies Act 2006. The text of the Auditors? report can be found in the company?s full Annual Report and Financial Statements on the company?s website.
|Mediclinic International plc (?Mediclinic? or the ?Company?), a leading international private healthcare group, is today hosting a two day site visit of its Middle East platform. The event will be hosted by David Hadley, Chief Executive Officer of Mediclinic Middle East, and will include visits to several of the platform?s hospitals and clinics in Abu Dhabi and Dubai, in addition to presentations on the Company?s Middle East operations. No new trading or financial information will be disclosed. Copies of the presentations will be made available on the Company?s website: www.mediclinic.com |
|The Group's functional currency changed from the South African rand in 2015 to pound sterling in 2016.|
|Mediclinic International Plc (the ?company? or ?Mediclinic?), the leading international private hospital group, announced that following an extensive recruitment process, Jurgens Myburgh has been appointed as Executive Director and Group Chief Financial Officer and will join the company effective 1 August 2016. This follows the announcement on 23 February 2016 that Craig Tingle will seek early retirement as CFO from 15 June 2016. In the interim period, Mediclinic?s qualified finance team will report into Danie Meintjes, CEO. |
Petrus Jurgens Myburgh (40) is a Chartered Accountant (SA) and will join the company from Datatec Limited, an international information and communications technology group, which operates in over 60 countries. Jurgens has been CFO at Datatec since 1 June 2014. Previously, he worked for The Standard Bank of South Africa Limited as Executive Vice President of Investment Banking. Jurgens holds a B.Comm (Hons) degree in Accounting from the University of Johannesburg and qualified as a chartered accountant with KPMG (Johannesburg) in 2000.
There is no further information to be disclosed in accordance with Listing Rule 9.6.
|The Board of Mediclinic International plc announced that as of 7 April 2016, Mr Jannie Durand, a non-executive director of the Company, has appointed Mr Pieter Uys as his alternate director.|
Since 2013, Mr Uys has held the position of Head of Strategic Investment at Remgro Ltd., a Johannesburg Stock Exchange listed investment company with meaningful interests in a number of businesses across the world. Prior to joining Remgro, Mr Uys was a founding member and ultimately became the CEO of Vodacom Group, one of the leading mobile networks in Africa. Mr Uys holds a MEng (Electrical) and an MBA from the University of Stellenbosch, South Africa.
There is no further information to be disclosed in accordance with Listing Rule 9.6.
Registered address: 1st Floor, 40 Dukes Place, London, EC3A 7NH, United Kingdom
JSE sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Ltd.)
NSX sponsor: Simonis Storm Securities (Pty) Ltd.
|Mediclinic International plc will be announcing its pre-close trading update ahead of the publication of its preliminary results for the financial year ending 31 March 2016 on 31 March 2016.|
*Registered address: 1st Floor, 40 Dukes Place, London, EC3A 7NH, United Kingdom
*JSE sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Ltd.)
*NSX sponsor: Simonis Storm Securities (Pty) Ltd.
|Further to the announcement of 22 February 2016 regarding the change in the Company?s auditor, the Company hereby advises that KPMG LLP, the Company?s previous auditors, ceased to hold office on 19 February 2016 and, as required in terms of section 519(3) of the UK Companies Act 2006, have deposited a statement with the Company of the circumstances connected with them ceasing to hold office as auditors of the Company.|
In accordance with the requirements of section 520(2) of the UK Companies Act 2006, a copy of the statement received from KPMG LLP has been sent to all shareholders together with an explanatory letter from the Company?s Chief Executive Officer, Danie Meintjes. In compliance with UKLA Listing Rule 9.6.1 the Company announces that the following documents have been submitted electronically to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM:
- letter from KPMG LLP including a statement of circumstances connected with ceasing to hold office as auditors; and
- Chief Executive Officer's explanatory letter.
The documents will also be available shortly on the Investor Relations section of the Company?s website at www.mediclinic.com.
|Mediclinic (the ?company?), a leading international private hospital group, announces that Craig Tingle has informed the Board of his intention to seek early retirement as Chief Financial Officer.|
Craig will remain Chief Financial Officer at the company until 15 June 2016 in order to oversee the preparation and presentation of the company's annual results to 31 March 2016, the refinancing of the bridge financing relating to the Al Noor Hospitals Group plc transaction, and to ensure a smooth transition to his successor. A process to identify a suitable successor is underway, led by the Chief Executive, Danie Meintjes.
|The Board of Mediclinic International plc (previously Al Noor Hospitals Group plc) (the ?company?) announces that it has changed its accounting reference date from 31 December to 31 March. |
As a result of this change, the company?s reporting calendar will be as follows:
* audited annual accounts for the 15 month period from 1 January 2015 to 31 March 2016 to be announced by no later than 31 July 2016.
The company will not be publishing interim accounts for six months ended 31 December 2015.
Change of Auditor
Following shareholder approval at the general meeting of the company on 15 December 2015 and completion of the recommended combination between the company and Mediclinic International Limited, KPMG LLP has resigned as the company?s auditor. The board is pleased to announce the appointment of PricewaterhouseCoopers LLP as auditor of the company for the 2015/2016 financial year with immediate effect.
The company extends its appreciation to KPMG LLP for its services as auditor and confirms that there are no matters in connection with KPMG LLP's resignation as auditor which need to be brought to the attention of shareholders.
|Al Noor Hospitals Group plc renamed to Mediclinic International plc on 16 February 2016.|
|Al Noor announced that its change of name to Mediclinic International plc has become effective following the issuance of a change of name certificate by Companies House.|
Trading in the Company's shares under the new name of Mediclinic International plc and under the new TIDM, MDC, will commence with effect from 8:00am GMT on Tuesday, 16 February 2016. The LSE short name of the Company will change from Al Noor to Mediclinic. The ISIN and SEDOL numbers will not change. The name change is expected to be effective on the JSE and NSX at commencement of trading (South African time) on Wednesday, 17 February. The Company?s website has changed to www.mediclinic.com
|Mediclinic is an international private healthcare group with three operating platforms in Southern Africa (South Africa and Namibia), Switzerland and the United Arab Emirates. Its core purpose is to enhance the quality of life of patients by providing comprehensive, high-quality healthcare services in such a way that the group will be regarded as the most respected and trusted provider of healthcare services by patients, doctors and funders of healthcare in each of its markets. |
During February 2016 the reverse takeover by the Company (previously named Al Noor Hospitals Group plc), with operations mainly in Abu Dhabi in the United Arab Emirates, of Mediclinic International Ltd., a South African based international private healthcare group founded in 1983 and listed on the JSE stock exchange in South Africa since 1986, with operations in South Africa, Namibia, Switzerland and the United Arab Emirates (mainly in Dubai), was completed. The enlarged Mediclinic group now boasts 75 hospitals and 29 clinics.
Today, Mediclinic Southern Africa operates 49 hospitals and 2 day clinics throughout South Africa and 3 hospitals in Namibia with more than 8 000 inpatient beds in total; Hirslanden operates 17 private acute care facilities and 4 clinics in Switzerland with more than 1 700 inpatient beds; and Mediclinic Middle East operates 6 hospitals and 23 clinics with more than 700 inpatient beds in the United Arab Emirates.
Mediclinic also holds a 29.9% interest in Spire Healthcare, a LSE listed and UK-based private healthcare group.
Mediclinic is associated with the following companies/institutions:
*Mediclinic Southern Africa - private healthcare group in South Africa and Namibia
*Medical Innovations - group procurement and manufacturer of hospital equipment in South Africa
*MHR - recruitment of temporary and permanent staff across all sectors of the healthcare industry
*ER24 - emergency medical services in South Africa
*Hirslanden - private healthcare group in Switzerland
United Arab Emirates:
*Mediclinic Middle East - private healthcare group in the United Arab Emirates (including the Al Noor businesses acquired in 2016, mainly located in Abu Dhabi)
*Spire Healthcare - private healthcare group in the United Kingdom and listed on the LSE