18 Dec 2019 07:00
18 December 2019
NMC Health plc
(the "Company" or "NMC")
Share buyback programme
Following the General Meeting held on 5 December 2019, NMC Health plc ("NMC" or the "Company") announces that it has entered into an arrangement with HSBC Bank plc ("HSBC") in relation to the purchase by HSBC, acting as principal, of ordinary shares in the Company's share capital (the "Shares") for an aggregate consideration of no greater than US$200m (the "Buyback Programme"). The Buyback Programme will be subject to certain pre-set parameters and any purchase of Shares will take place during the period commencing on 18 December 2019 and ending no later than the earlier of the conclusion of the annual general meeting of the Company in 2020 and 30 June 2020, including during any closed period of the Company which may fall within that period. The maximum number of Shares that will be repurchased pursuant to the Buyback Programme is 20,890,386.
Any purchase of Shares pursuant to the Buyback Programme will be carried out on the London Stock Exchange and executed in accordance with Chapter 12 of the Listing Rules of the Financial Conduct Authority and the Company's general authority to make market purchases of Shares. The Company will announce any market repurchase of Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. The purpose of the Buyback Programme is to reduce the share capital of the Company and all Shares purchased will be cancelled.
The total number of voting rights in the Company as at 17 December 2019 is 208,903,861.
Contacts
NMC | |
Asjad Yahya, Investor Relations | +971 (0)56 219 0975 |
Media | |
FTI Consulting, London | |
Edward Bridges/ Simon Conway/ Victoria Foster Mitchell | +44 (0)20 3727 1000 |
FTI Consulting, Gulf | |
Shane Dolan | +971 (0)4 437 2100 |
About NMC Health
NMC is one of the leading private healthcare operators in the Gulf Cooperation Council ("GCC") with an international network of multi-specialty inpatient and outpatient clinics and hospitals, specialized maternity and fertility clinics, and long-term care homes hospitals across nineteen countries. NMC also ranks as one of the top two in-vitro fertilisation operators globally. The NMC Health group is recognised as a leading provider of long-term medical care in the UAE through its subsidiary ProVita. Pursing a selective international expansion programme since 2016, NMC has total capacity of 2,207 licensed beds across its network. Moreover, the recent formation of a joint venture with GOSI/Hassana Investment Company provides a solid platform for continued growth in the GCC region's largest healthcare market. The NMC Health group treated over 7.5 million patients in 2018. The NMC Health group is also a leading UAE supplier of products and consumables coming from healthcare related products. NMC reported revenues of US$2.1 billion for the year ended 31 December 2018.
In April 2012, NMC was listed on the Premium Segment of the London Stock Exchange. NMC is a constituent of the FTSE 100 Index.