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MEDICLINIC INTERNATIONAL PLC
Remuneration Information • Dec 15, 2020
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Remuneration Information
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National Storage Mechanism | Additional information 
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
+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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