RESULTS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS
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24 April 2020, Moscow – MD Medical Group Investments Plc (“MD Medical Group”, “MDMG” or the “Company” – LSE: MDMG), a leading Russian private healthcare provider, today announces that the Company held its Annual General Meeting of shareholders (“AGM”).
The AGM was held at Lapino hospital, Lapino 111, Odintsovskiy district, Moscow Region, Russian Federation on April 23, 2020 at 10.00 а.m. local time, and had a 100% quorum with 75,125,010 shares present.
The AGM passed the following resolutions by a majority of members:
- To adopt the consolidated financial statements of the Company for the financial year ended December 31st, 2019 together with the reports of directors and independent auditors;
- To re-appoint KPMG Limited as auditors of the Company to hold office until the conclusion of the next annual general meeting of the Company and to authorize the Board of Directors to determine the remuneration of the auditors;
- To appoint Mr. Tony Maher as an independent non-executive director of the Company with an annual gross remuneration of RUR 4 000 000, to hold the office until the conclusion of the annual general meeting of the Company to be held in 2021;
- To appoint Ms. Tatiana Lukina as an independent non-executive director of the Company with an annual gross remuneration of RUR 615 000, to hold the office until the conclusion of the annual general meeting of the Company to be held in 2021;
- To appoint Mr. Vitaly Ustimenko as a non-executive director of the Company with an annual gross remuneration of RUB 944 000, to hold the office until the conclusion of the annual general meeting of the Company to be held in 2021;
The following resolution was not passed by a majority of all the members present at the meeting and the required approval by the shareholders was not satisfied:
- To approve the payment of a dividend, out of the profits made during the year 2019, in the amount of RUR 8,50 per share, as proposed in the directors’ report be and is hereby approved. Subject to shareholders’ approval of the dividend at the annual general meeting of shareholders of the Company, the dividend record date is set as April 30, 2020. The Global Depository Receipts will be marked as ex-dividend on April 29, 2020. The pay date for GDR holders is set as May 26, 2020. The payment shall be made in USD at the rate of the Central Bank of Russia on the 20 March 2020;
The Minutes of the AGM are available for viewing at the registered office of the Company at office 9-2, bld. 3, 6 Azovskaya str., Moscow, Russian Federation and will be available at the National Storage Mechanism of the UK Listing Authority, located at www.morningstar.co.uk/uk/, in due course.
For further information please contact:
MD Medical Group Investments Plc
Tel: +7 495 331 41 20
Tom Blackwell: +7 919 102 9064
Sergii Pershyn: +1 929 855 8188
About MD Medical Group
MD Medical Group is a leading provider in the highly attractive Russian private healthcare service market. The company manages 42 modern healthcare facilities, including 6 hospitals and 36 out-patient clinics in Moscow and the Moscow Region, St. Petersburg, Ufa, Perm, Samara and the Samara Region, Irkutsk, Novosibirsk, Irkutsk, Yaroslavl, Ryazan, Kostroma, Novokuznetsk, Krasnoyarsk, Omsk, Barnaul, Vladimir, Tyumen, Voronezh, Nizhny Novgorod, Volgograd, Tula, Kazan, Vladivostok, Krasnodar and Rostov on Don
The Company’s shares have been listed on the London Stock Exchange (LSE ticker “MDMG”) in the form of Global Depositary Receipts (GDRs) since 12 October 2012.
This press release contains forward looking statements, which are based on the Company’s current expectations and assumptions and may involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. The forward looking statements contained in this press release are based on past trends or activities and should not be taken that such trends or activities will continue in the future. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables which could cause actual results or trends to differ materially, including, but not limited to: conditions in the market, market position of the Company, earnings, financial position, cash flows, return on capital and operating margins, anticipated investments and economic conditions; the Company’s ability to obtain capital/additional finance; a reduction in demand by customers; an increase in competition; an unexpected decline in revenue or profitability; legislative, fiscal and regulatory developments, including, but not limited to, changes in environmental and health and safety regulations; exchange rate fluctuations; retention of senior management; the maintenance of labour relations; fluctuations in the cost of input costs; and operating and financial restrictions as a result of financing arrangements. No statement in this press release is intended to constitute a profit forecast, nor should any statements be interpreted to mean that earnings or earnings per share will necessarily be greater or lesser than those for the relevant preceding financial periods for the Company. Each forward looking statement relates only as of the date of the particular statement.
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