TIDMMDC
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 % of Votes For % Votes Against % Votes
Voted Issued Withheld
Share
Capital
Voted
Ordinary Resolutions
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To receive the
Company's financial
statements and
the reports of
the Directors and
1. auditor 651,940,713 88.43 651,933,735 100.00 6,978 0.00 811,572
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To approve the
Directors'
Remuneration
2 Report 639,306,513 86.72 456,707,341 71.44 182,599,172 28.56 13,445,771
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To declare a final
dividend of 4.70
pence per ordinary
3. share 652,546,926 88.51 652,543,691 100.00 3,235 0.00 205,359
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To elect Dr Anja
4. Oswald as a Director 652,548,766 88.51 640,718,620 98.19 11,830,146 1.81 203,519
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Dr
Ronnie van der
5. Merwe as a Director 652,544,766 88.51 651,316,911 99.81 1,227,855 0.19 207,519
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Mr
Jurgens Myburgh
6. as a Director 652,461,766 88.50 650,647,906 99.72 1,813,860 0.28 290,519
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Dr
Edwin Hertzog as
7. a Director 646,065,630 87.63 623,481,653 96.50 22,583,977 3.50 6,686,654
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Dr
Muhadditha Al Hashimi
8. as a Director 652,543,321 88.51 652,442,657 99.98 100,664 0.02 208,964
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Mr
Jannie Durand as
9. a Director 646,065,631 87.63 604,064,308 93.50 42,001,323 6.50 6,686,654
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Mr
Alan Grieve as
10. a Director 646,065,211 87.63 641,261,092 99.26 4,804,119 0.74 6,687,074
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Dr
Felicity Harvey
11. as a Director 652,544,766 88.51 652,447,353 99.99 97,413 0.01 207,519
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Mr
Seamus Keating
12. as a Director 652,544,766 88.51 640,707,466 98.19 11,837,300 1.81 207,519
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Mr
Danie Meintjes
13. as a Director 645,955,026 87.62 642,611,449 99.48 3,343,577 0.52 6,797,258
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-elect Mr
Trevor Petersen
14. as a Director 652,542,691 88.51 639,472,536 98.00 13,070,155 2.00 209,594
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To re-appoint
PricewaterhouseCoopers
LLP as auditor
15. of the Company 652,545,158 88.51 646,028,433 99.00 6,516,725 1.00 207,127
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To authorise the
Audit and Risk
Committee to determine
the remuneration
16. of the auditor 652,544,645 88.51 652,259,510 99.96 285,135 0.04 207,640
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To authorise the
Directors to make
17. political donations 652,428,001 88.50 548,136,283 84.01 104,291,718 15.99 324,284
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To authorise the
Directors to allot
18. ordinary shares 652,548,147 88.51 514,756,732 78.88 137,791,415 21.12 204,138
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
Special Resolutions
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To authorise the
Directors to dis-apply
statutory pre-emption
19. rights 652,544,590 88.51 569,519,112 87.28 83,025,478 12.72 207,695
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To authorise the
Directors to dis-apply
pre-emption rights
for purposes of
acquisitions or
20. capital investments 652,544,589 88.51 568,339,245 87.10 84,205,344 12.90 207,695
----------------------- ------------- --------- ------------ ------- -------------- ------ --------------
To approve the
calling of general
meetings on not
less than 14 days'
clear notice (other
than annual general
21. 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 INDEPENT NON-EXECUTIVE DIRECTORS
Ordinary Resolutions Total Shares % of Votes For % Votes Against % Votes Withheld
Voted Issued
Share
Capital
Voted
To elect Dr Anja
4. Oswald as a Director 324,050,878 79.28 312,220,732 96.35 11,830,146 3.65 203,519
----------------------- ------------- --------- ------------ ------ -------------- ----- ---------------
To re-elect Dr
Muhadditha Al Hashimi
8. as a Director 324,045,433 79.28 323,944,769 99.97 100,664 0.03 208,964
----------------------- ------------- --------- ------------ ------ -------------- ----- ---------------
To re-elect Mr
Alan Grieve as
10. a Director 317,567,323 77.69 312,763,204 98.49 4,804,119 1.51 6,687,074
----------------------- ------------- --------- ------------ ------ -------------- ----- ---------------
To re-elect Dr
Felicity Harvey
11. as a Director 324,046,878 79.28 323,949,465 99.97 97,413 0.03 207,519
----------------------- ------------- --------- ------------ ------ -------------- ----- ---------------
To re-elect Mr
Seamus Keating
12. as a Director 324,046,878 79.28 312,209,578 96.35 11,837,300 3.65 207,519
----------------------- ------------- --------- ------------ ------ -------------- ----- ---------------
To re-elect Mr
Trevor Petersen
14. 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
ir@mediclinic.com
+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: 6(th) 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 rns@lseg.com or visit www.rns.com.
END
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