MEDICLINIC INTERNATIONAL LIMITED - Confirmation of vesting date of share awards to directors and the company secretary and sale of unvested shares

Release Date: 01/02/2016 15:41
Code(s): MDC
 
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Confirmation of vesting date of share awards to directors and the company secretary and sale of unvested shares

Mediclinic International Limited
Incorporated in the Republic of South Africa
Reg. no. 1983/010725/06
Income tax no: 9950122714
JSE Share code: MDC
NSX share code: MCI
ISIN code: ZAE000074142
(“Mediclinic” or “the Company”)

CONFIRMATION OF VESTING DATE OF SHARE AWARDS TO DIRECTORS AND THE
COMPANY SECRETARY OF MEDICLINIC AND SALE OF UNVESTED SHARES

As previously announced on the Stock Exchange News Service
(“SENS”) of the JSE Limited, in terms of paragraph 3.63 of the
Listings Requirements, the following executive directors and the
company secretary of Mediclinic have been granted and have
accepted forfeitable or conditional share awards (“Awards”), as
indicated below, in terms of the Mediclinic Forfeitable Share Plan
(“FSP”), as approved by the Company’s shareholders at the annual
general meeting held in July 2014.

On 14 October 2015, Mediclinic announced the proposed combination
of the businesses of Al Noor Hospitals Group plc (“Al Noor”) and
Mediclinic (the “Combination”), to be effected by way of a scheme
of arrangement in terms of the Companies Act 71 of 2008 (the
“Scheme”). The Scheme has become unconditional, as announced on in
the finalisation announcement released on SENS on 29 January 2016.
In terms of the rules of the FSP, the Remuneration Committee of
Mediclinic exercised its discretion to make such adjustments to
the Awards as may be required as a result of the implementation of
the Combination. With regard to the performance conditions
attached to the FSP Awards, the extent to which the absolute total
shareholder return (TSR) and normalised diluted headline earnings
per share (HEPS) were achieved was tested by the Remuneration
Committee as at 31 December 2015. As a result of this exercise,
the following adjustments have been made:

1. 2014 Awards
In respect of the Awards made in 2014, 100% of the performance
conditions have been met. Accordingly, 100% of these Awards will
vest on 31 May 2017, subject to the participants’ continued
employment up to the vesting date.

2. 2015 Awards
In respect of the Awards made in 2015, 78% of the performance
conditions have been met. Accordingly, 78% of these Awards will
vest on 31 May 2018, subject to the participants’ continued
employment up to the vesting date. The remaining 22% of the
Awards, having necessarily been forfeited (“Forfeiture”),  have
been sold by Mediclinic, as summarised below:

Company                     :   Mediclinic International Limited
Nature of transaction       :   On-market sale of shares
Date of sale                :   29 January 2016
Number of securities        :   45 733
Class of securities         :   Ordinary shares
Selling price per share     :   Highest price: R120.45
                                Lowest price: R120.00
                                VWAP: R120.0833
Total value of transaction  :   R5 491 769.56
on acceptance
Clearance obtained          :   Yes

The FSP Awards received, forfeited and held by directors and the
company secretary of Mediclinic, following the Forfeiture are as
follows:

Director                   :   D P Meintjes
Company                    :   Mediclinic International Limited
Number of 2014 Awards      :   79 077
Vesting date of 2014       :   31 May 2017
Awards
Number of 2015 Awards      :   69 639
Number of 2015 Awards      :   15 321
forfeited
Vesting date of 2015       :   31 May 2018
Awards
Balance of 2014 and 2015   :   133 395
Awards retained

Director                   :   C I Tingle
Company                    :   Mediclinic International Limited
Number of 2014 Awards      :   44 320
Vesting date of 2014       :   31 May 2017
Awards
Number of 2015 Awards      :   40 649
Number of 2015 Awards      :   8 943
forfeited
Vesting date of 2015       :   31 May 2018
Awards
Balance of 2014 and 2015   :   76 026
Awards retained

Director                   :   K H S Pretorius
Company                    :   Mediclinic International Limited
Number of 2014 Awards      :   31 690
Vesting date of 2014       :   31 May 2017
Awards
Number of 2015 Awards      :   27 160
Number of 2015 Awards      :   5 975
forfeited
Vesting date of 2015       :   31 May 2018
Awards
Balance of 2014 and 2015   :   52 875
Awards retained


Director                   :   C A van der Merwe
Company                    :   Mediclinic International Limited
Number of 2014 Awards       :   26 411
Vesting date of 2014        :   31 May 2017
Awards
Number of 2015 Awards       :   23 034
Number of 2015 Awards       :   5 067
forfeited
Vesting date of 2015        :   31 May 2018
Awards
Balance of 2014 and 2015    :   44 378
Awards retained

Company Secretary           :   G C Hattingh
Company                     :   Mediclinic International Limited
Number of 2014 Awards       :   23 575
Vesting date of 2014        :   31 May 2017
Awards
Number of 2015 Awards       :   20 705
Number of 2015 Awards       :   4 555
forfeited
Vesting date of 2015        :   31 May 2018
Awards
Balance of 2014 and 2015    :   39 725
Awards retained

Stellenbosch
1 February 2016

Mediclinic Offices, Strand Road, Stellenbosch 7600, South Africa
PO Box 456, Stellenbosch 7599, South Africa
Tel +27 (0)21 809 6500
Fax +27 (0)21 886 4037
Ethics Line: 0800 005 316 (if dialling from South Africa) or
ethics@mediclinic.com
Website: www.mediclinic.com

JSE sponsor: RAND MERCHANT BANK (A division of FirstRand Bank
Limited)

NSX sponsor: Simonis Storm Securities (Proprietary) Limited

Date: 01/02/2016 03:41:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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