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Director/PDMR Shareholding

2 May 2018 17:09

RNS Number : 9444M
NMC Health Plc
02 May 2018
 

NMC Health plc

 

London, 2 May 2018: NMC Health plc (LSE: NMC), the leading United Arab Emirates private healthcare operator with international services across 13 countries, today announces that it has received notification from its shareholder, BRS Capital Ltd ("BRS"), a company which is 100% owned and controlled by Dr B. R. Shetty, that BRS has entered into a funded collar transaction over up to 7 million shares of NMC ("NMC Shares"), representing up to 17.63% of Dr B. R. Shetty's overall interest in NMC Shares, or up to 3.36% of all outstanding shares of NMC.

BRS has also notified the Company as follows:

 

Ø To facilitate the funded collar transaction, BRS will lend up to 7 million of NMC Shares to Goldman Sachs International. Goldman Sachs International will sell NMC Shares via a block trade to institutional investors to establish its initial hedge for the funded collar transaction.

Ø Pursuant to the terms of the funded collar transaction, BRS will continue to retain the upside exposure to the NMC Share price up to a cap and the downside price exposure will be subject to a floor. With respect to the remainder of their holding in the NMC Shares, BRS will continue to retain all of the upside and downside price exposure.

Ø BRS will use the proceeds of the funded collar transaction to fund new investments by BRS in other initiatives.

 

Dr B.R. Shetty is the founder and Non-Executive Joint Chairman of NMC Health plc. BRS and Dr B.R. Shetty remain committed long-term shareholders and have advised the Company that they have entered into a 90 day lock-up pursuant to which they will not sell NMC Shares for ninety (90) calendar days following the settlement and delivery of the block.

In addition to this announcement, any regulatory announcements required by virtue of Dr Shetty's position as a Director and as a major shareholder of the Company will be released separately.

 

Contacts

 

NMC

Simon Watkins

Group Company Secretary

+44 (0)20 3205 7314

Media

FTI Consulting, London

Brett Pollard

+44 (0)20 3727 1100

FTI Consulting, Gulf

Shane Dolan

+971 (0)4 437 2100

 

About NMC Health plc

 

NMC Health plc, is the leading United Arab Emirates private healthcare operator with an international network of hospitals. The Group currently operates or manages over 125 assets across 13 countries. NMC Health plc is also ranked as one of the top 3 in-vitro fertilisation ("IVF") operators globally. The Group is also a leading provider of long-term medical care in the UAE through its subsidiary ProVita. Pursuing an aggressive international expansion program from 2016, the Company now has over 35% of its licensed bed capacity in the Kingdom of Saudi Arabia (KSA), where the Company has introduced long-term and multi-specialty care services. The enlarged Group received over 5.7m patients in 2017. The Group is also a leading UAE supplier of products and consumables across several key market segments, with the major contribution coming from healthcare related products. The Group reported revenues of USD 1.6 billion for the year ended 31 December 2017.

In April 2012 NMC Health plc was listed on the Premium Segment of the London Stock Exchange. NMC Health plc is a constituent of the FTSE 100 Index.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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