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18 Feb 2020 17:33
FOR IMMEDIATE RELEASE | February 18 February, 2020 |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NMC HEALTH PLC
(the "Company")
Statement regarding major shareholdings
Notification of PDMR Interests
The Company refers to its announcements of 10 and 14 February 2020 and to the legal review being undertaken by Dr Bavaguthu Raghuram Shetty, and his advisers in order to verify the total interests of Dr Shetty, his associated family members and his associated family holding companies in the ordinary shares of the Company ("Ordinary Shares"). The Board remains disappointed in the disclosures made by Dr Shetty and has continued to urgently seek clarity from him in relation to his shareholding arrangements and his holdings of Ordinary Shares. The Board continues to encourage Dr Shetty and his advisers to ascertain the correct legal position in relation to his ownership of Ordinary Shares without further delay. The Company is not able to independently verify the information received from Dr Shetty or that contained in his PDMR notification, but will continue to comply with its obligations to release notifications received from Dr Shetty and his advisers, as the Company is required to do under MAR.
The Company has been notified by Dr Shetty's advisers of the following matter requiring disclosure and has been informed that the below sets out his present understanding of this matter:
By email on 16 February 2020, BRS International Holding Ltd ("BRS International") (of which Dr Shetty is the sole shareholder) received auto-generated statements from First Abu Dhabi Bank (the "Bank") which stated that between 3 and 6 February 2020, the Bank sold 10,900,000 Ordinary Shares which had been held in an account in the name of BRS International as follows:
Trade Date | Settle Date | Quantity |
03/02/2020 | 05/02/2020 | 2,000,000 |
03/02/2020 | 05/02/2020 | 170,153 |
04/02/2020 | 06/02/2020 | 4,644,525 |
05/02/2020 | 07/02/2020 | 1,917,520 |
06/02/2020 | 10/02/2020 | 2,167,802 |
The statements do not disclose the venue on which these transactions took place.
Dr Shetty has advised the Company that, both in his personal capacity and in his capacity as the sole director of BRS International, he has requested further information from the Bank in respect of above transactions; he has, however, advised the Company that he has not yet received a response. Dr Shetty has stated to the Company that access to this information is critical in order for Dr Shetty and his advisers to understand the legal basis for these transitions and to independently verify the details contained in the auto-generated statements.
On the relevant dates, Dr Shetty was a PDMR in relation to the Company, but he is no longer a PDMR having resigned as a director and Joint Non-Executive Chairman of the Company on 16 February 2020.
The PDMR notifications that follow were sent to the Company today and are being disclosed by the Company in the form in which they were received. The Company has been informed that Dr Shetty does not have sufficient information to file a TR-1 announcement at this time.
Further announcements may be made as and when appropriate.
The individual responsible for releasing this announcement is Simon Watkins, Group Company Secretary.
Enquiries:
NMC Health plc |
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Simon Watkins, Group Company Secretary | +44 (0) 203 205 7313 |
Asjad Yayha, Head of Investor Relations | +971 (0) 56 219 0975 |
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FTI Consulting | |
Edward Bridges / Simon Conway / Victoria Foster Mitchell | +44 (0)20 3727 1000 |
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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them(as sent to the Company on 18 February 2020)
The below notifications set out Dr. B. R. Shetty's present understanding of the transactions being notified based on information currently available. This information has not as yet been independently verified: Dr. B. R. Shetty and his advisers are urgently investigating the details and legal basis of these transactions as part of the ongoing legal review.
1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||
a) | Name | BRS International Holding Ltd | ||||
2. | Reason for the notification | |||||
a) | Position/status | This notification concerns a person closely associated with a person discharging managerial responsibilities, being Dr. Bavaguthu Raghuram Shetty who at the time of the transaction was Joint Non-Executive Chairman of the issuer | ||||
b) | Initial notification/ Amendment | This is an initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | NMC Health Plc | ||||
b) | LEI | 2138008YQEVWBE1V2M52 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument
Identification code | Ordinary shares ISIN: GB00B7FC0762 | ||||
b) | Nature of the transaction | On 16 February 2020, BRS International Holding Ltd received auto-generated statements from First Abu Dhabi Bank which stated that between 3 and 6 February 2020, First Abu Dhabi Bank sold in total 10,900,000 Ordinary Shares of NMC Health plc which had been held in an account in the name of BRS International Holding Limited. This notification relates to one of the sales included in the auto-generated statements and sets out Dr. B. R. Shetty's present understanding of such sale based on information currently available.This information has not as yet been independently verified: Dr. B. R. Shetty and his advisers are urgently investigating the details and legal basis of this transaction as part of the ongoing legal review. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Aggregated volume: 2000000 Price: GBP 10.8011 Total: GBP 21,602,258.00 | ||||
e) | Date of the transaction | 2020-02-03 | ||||
f) | Place of the transaction | UNKNOWN | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument
Identification code | Ordinary shares ISIN: GB00B7FC0762 | ||||
b) | Nature of the transaction | On 16 February 2020, BRS International Holding Ltd received auto-generated statements from First Abu Dhabi Bank which stated that between 3 and 6 February 2020, First Abu Dhabi Bank sold in total 10,900,000 Ordinary Shares of NMC Health plc which had been held in an account in the name of BRS International Holding Limited. This notification relates to one of the sales included in the auto-generated statements and sets out Dr. B. R. Shetty's present understanding of such sale based on information currently available. This information has not as yet been independently verified: Dr. B. R. Shetty and his advisers are urgently investigating the details and legal basis of this transaction as part of the ongoing legal review. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Aggregated volume: 170153 Price: GBP 12.5135 Total: GBP 2,129,211.61 | ||||
e) | Date of the transaction | 2020-02-03 | ||||
f) | Place of the transaction | UNKNOWN | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument
Identification code | Ordinary shares ISIN: GB00B7FC0762 | ||||
b) | Nature of the transaction | On 16 February 2020, BRS International Holding Ltd received auto-generated statements from First Abu Dhabi Bank which stated that between 3 and 6 February 2020, First Abu Dhabi Bank sold in total 10,900,000 Ordinary Shares of NMC Health plc which had been held in an account in the name of BRS International Holding Limited. This notification relates to one of the sales included in the auto-generated statements and sets out Dr. B. R. Shetty's present understanding of such sale based on information currently available. This information has not as yet been independently verified: Dr. B. R. Shetty and his advisers are urgently investigating the details and legal basis of this transaction as part of the ongoing legal review. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Aggregated volume: 4644525 Price: GBP 10.1710 Total: GBP 47,239,519.51 | ||||
e) | Date of the transaction | 2020-02-04 | ||||
f) | Place of the transaction | UNKNOWN | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument
Identification code | Ordinary shares ISIN: GB00B7FC0762 | ||||
b) | Nature of the transaction | On 16 February 2020, BRS International Holding Ltd received auto-generated statements from First Abu Dhabi Bank which stated that between 3 and 6 February 2020, First Abu Dhabi Bank sold in total 10,900,000 Ordinary Shares of NMC Health plc which had been held in an account in the name of BRS International Holding Limited. This notification relates to one of the sales included in the auto-generated statements and sets out Dr. B. R. Shetty's present understanding of such sale based on information currently available. This information has not as yet been independently verified: Dr. B. R. Shetty and his advisers are urgently investigating the details and legal basis of this transaction as part of the ongoing legal review. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Aggregated volume: 1917520 Price: GBP 9.7253 Total: GBP 18,648,505.19 | ||||
e) | Date of the transaction | 2020-02-05 | ||||
f) | Place of the transaction | UNKNOWN | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument
Identification code | Ordinary shares ISIN: GB00B7FC0762 | ||||
b) | Nature of the transaction | On 16 February 2020, BRS International Holding Ltd received auto-generated statements from First Abu Dhabi Bank which stated that between 3 and 6 February 2020, First Abu Dhabi Bank sold in total 10,900,000 Ordinary Shares of NMC Health plc which had been held in an account in the name of BRS International Holding Limited. This notification relates to one of the sales included in the auto-generated statements and sets out Dr. B. R. Shetty's present understanding of such sale based on information currently available. This information has not as yet been independently verified: Dr. B. R. Shetty and his advisers are urgently investigating the details and legal basis of this transaction as part of the ongoing legal review. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Aggregated volume: 2167802 Price: GBP 10.2474 Total: GBP 22,214,489.55 | ||||
e) | Date of the transaction | 2020-02-06 | ||||
f) | Place of the transaction | UNKNOWN | ||||
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