Transaction in own GDRs
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 health care, announces that in accordance with the authority granted by its shareholders at the Company’s Annual General Meeting on 23 May 2014, it purchased 2,324 of its Global Depositary Receipts (“GDRs”) through Deutsche Bank AG during the period 17 June 2014 through and including 23 June, 2014.
The highest and lowest price paid for the purchased GDRs was US$ 8.995 and US$ 8.980 per GDR, respectively.
The purchased GDRs will be held in treasury and are expected to be used in satisfying awards made under the Long-Term Management Incentive Plan announced on 24 April 2014. Following the purchase of GDRs referred to above the Company holds a total of 2,324 GDRs as treasury GDRs and has 75,122,686 GDRs in issue (excluding those GDRs held as treasury GDRs).
The Company notes that, under the applicable FCA rules and regulations, it is not usually permitted to purchase more than 25% of the average daily volume of the GDRs on the London Stock Exchange. However, given the extreme low liquidity in the GDRs, the Company wishes to be able to rely on an applicable exemption to purchase more than 25% of the average daily volume of the shares on the London Stock Exchange.
Accordingly, the Company announces that it has notified the FCA of its intention to deviate from the 25% limit on purchases of GDRs and that it might deviate from the 25% limit when acquiring GDRs pursuant to the authority granted by shareholders. However, in line with FCA rules and regulations, the Company will not purchase GDRs exceeding 50% of the average daily volume of the GDRs on the London Stock Exchange.For further information please contact:
Investors | Media |
Elena Romanova MD Medical Group Investments Plc | EM |
| Consilium Strategic Communications |
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 17 modern healthcare facilities, including 2 hospitals and 15 outpatient clinics in Moscow, St. Petersburg, Ufa, Perm, Samara and Samara region, Irkutsk and Yaroslavl. In addition, 3 franchised outpatient clinics operate in Kyiv, Ukraine.
The Company's main medical facilities are the Perinatal Medical Center (PMC), a 250-bed medical centre, which opened its doors in 2006, and Lapino hospital, a 182-bed medical centre, which opened at the end of 2012. In 2013, there were 3,816 deliveries in PMC and Lapino. The number of outpatient treatments for 2013 in PMC and the Company's outpatient clinics totalled 627,247. In March 2013, the Company began construction of its third hospital in Ufa. In April 2013 MD Medical Group completed the acquisition of the IDK Medical Company ("IDK"), a network of women's and children's health clinics located in the Russian region of Samara. In May 2013, the Company acquired Mother&Child clinic in Irkutsk, which had previously operated through a franchise agreement with MD Medical Group. The same month the Company completed a large-scale modernisation project of its Mother & Child Health Clinic in Moscow. In December 2013, a new outpatient clinic was opened in Yaroslavl which became the first healthcare facility in the region to provide IVF services.
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
Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Company or its officers with respect to various matters. When used in this document, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should” and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.