Results of the Annual General Meeting of shareholders
Moscow, Russia – MD Medical Group Investments Plc (“MD Medical Group”, “MDMG” or the “Company” – LSE: MDMG), Russia’s leading provider of private women’s and children’s healthcare, today announces that the Company held its Annual General Meeting of shareholders (the “AGM”).
The AGM was held at Lapino Hospital, Lapino 111, Odinzovskiy district, Moscow Region, Russian Federation on 5 June 2015 at 10:00 a.m. local time, and had a 100% quorum with 74,895,010 shares represented.
The AGM passed the following resolutions by a majority of votes:
1. To adopt the consolidated financial statements of the Company for the financial year ended 31 December 2014, together with the reports of the directors and independent auditors.
2. To re-appoint KPMG Limited as the Company’s auditor, to hold office until the conclusion of the Company’s next AGM, and to authorise the Board of Directors to determine the remuneration of the auditors.
3. To appoint the following members of the Board of Directors of the Company, to hold such office until the conclusion of the Company’s AGM in 2018: Mr. Vitaly Ustimenko, Mrs. Liubov Malyarevskaya, Mr. Vladimir Mekler.
4. To approve the distribution of a final dividend from the Company’s FY 2014 profit, in the amount of RUB 4.01 per ordinary share/GDR.
As indicated by the Company earlier, the dividend record date was set for 5 June 2015. The payment of dividends is tentatively set to take place on 3 July 2015.
The Minutes of the AGM are available for viewing at the registered office of the Company at 15 Dimitriou Karatasou, Anastasio Building, 6th floor, Flat/Office 601, Strovolos, 2024, Nicosia, Cyprus, and will shortly be available on the National Storage Mechanism of the UK Listing Authority: http://www.morningstar.co.uk/uk/NSM.
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About MD Medical Group
MD Medical Group operates in the highly attractive Russian private healthcare service market and has a leading position in high-quality women's health and paediatrics. The company manages 23 modern healthcare facilities, including four hospitals and 19 outpatient clinics in Moscow, St. Petersburg, Ufa, Perm, Samara and Samara region, Novosibirsk, Irkutsk, Yaroslavl and Ryazan. In addition, three franchised outpatient clinics operate in Kyiv, Ukraine.
In 2014, 4,550 deliveries took place at the Company’s facilities; IVF cycles amounted to 7,654. The number of outpatient treatments totalled 818,636 and the number of in-patient days reached 35,900.
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.
Forward-Looking Statements:
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.