Mediclinic International : Intnl plc - Directorate Change

Mediclinic International plc
(Incorporated in England and Wales)
Company Number 8338604
LSE Share Code: MDC

JSE Share Code: MEI
NSX Share Code: MEP

ISIN: GB00B8HX8Z88

LEI: 2138002S5BSBIZTD5I60

('Mediclinic' or 'the Company')

THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION

27 November 2017

APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER

Mediclinic International plcannounces the appointment of Dr Carel Aron (Ronnie) van der Merwe, currently Mediclinic's Group Chief Clinical Officer, as Chief Executive Officer ('CEO') Designate to succeed Danie Meintjes as CEO of the Company on a date to be mutually agreed, but not later than 1 August 2018. This follows the announcement made on 25 July 2017 that Mr Meintjes will retire from his position as Chief Executive Officer and a director of the Company by no later than 31 July 2018.

Dr Van der Merwe joined Mediclinic in 1999 and has been a member of the Group's Executive Committee since 2008. He established the Clinical Information, Advanced Analytics, Health Information Management and Clinical Services functions at Mediclinic and has been Group Chief Clinical Officer since 2007. He was appointed as a director of Mediclinic International Limited in 2010 up to the combination of the businesses of the Company (then Al Noor Hospitals Group plc) and Mediclinic International Limited. He is also a member of the Board of Directors at Wits Donald Gordon Medical Centre (Pty) Ltd and is the Chairman of the Board of Trustees for the Remedi Medical Aid Scheme.

Dr Van der Merwe obtained qualifications in Advanced Management (Harvard Business School, USA), a Fellowship in Anaesthesia (College of Anaesthesiologists, South Africa) where he was the recipient of the Jack Abelsohn Medal and a Bachelor of Medicine and Bachelor of Surgery (University of Stellenbosch, South Africa).

Dr Edwin Hertzog, Chairman of Mediclinic, commented:'Danie has been instrumental to the development of Mediclinic into a respected international healthcare provider delivering high-quality, cost-efficient services to patients. We look forward to continuing to work with him until his retirement. We are delighted that Ronnie van der Merwe will succeed Danie in leading Mediclinic, following the thorough and rigorous global selection process carried out by the Nomination Committee with the support from the other Non-Executive Directors. The Committee and the Board were unanimous in their support for Ronnie, given his extensive knowledge of Mediclinic's international operations and strong track record of driving enhancements especially in the quality and effectiveness of our clinical services.'

Danie Meintjes said: 'It has been a great privilege to lead Mediclinic's business since 2010 and be part of its development for more than three decades. The Company is in a strong position with good prospects for growth and I am pleased that I will be leaving it in the capable hands of Ronnie van der Merwe, supported by the senior management team.'

Dr Van der Merwe said: 'I am delighted to have been asked by the Board to take over as Mediclinic's next CEO. I look forward to working with Danie and all Mediclinic colleagues, clinicians, customers, shareholders and other stakeholders, to ensure a smooth handover and address the challenges and opportunities facing our business in the near, medium and long term.'

There are no disclosures required pursuant to paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority's Listing Rules in respect of this appointment.

Additional information

As CEO of Mediclinic, Dr Van der Merwe will receive an annual salary and board fees amounting to £520,367* and he will also be eligible to participate in the Company's short term incentive scheme ('STI') and long term incentive plan ('LTIP'), designed to incentivise and reward the successful delivery of the business strategy and sustained shareholders value creation. Dr Van der Merwe's maximum award opportunity under the STI will be 150% of his annual salary, half of which will be subject to a compulsory deferral for a period of two years. Awards under the LTIP are up to a maximum value of 200% of annual salary, with vesting subject to performance over a three year period and an additional two-year holding period required following vesting and prior to their release. In accordance with best practice both the bonus and LTIP contains provisions that will allow the Company to recover or withhold value in the event of certain defined circumstances. Dr Van der Merwe's service agreement may be terminated on six months' notice by either side.

Dr Van der Merwe holds 30,630 shares in the Company and will be expected to build and maintain his shareholding in the Company to the value of 225% of his annual base salary and retain no less than 50% of the net share releases from his deferred bonus and LTIP awards until this requirement is met.

The above remuneration package and arrangements match those of the departing CEO, Danie Meintjes, and are consistent with the terms of the Directors' Remuneration Policy approved by shareholders at the Annual General Meeting held in July 2017.

* The GBP cash equivalent has been calculated using the following exchange rate: £1: ZAR 18.52, being the 5-day average GBP/ ZAR exchange rate on Friday, 24 November 2017 at 3:00pm GMT Bloomberg.

About Mediclinic International plc

Mediclinic is an international private healthcare group with operating platforms in Southern Africa (South Africa and Namibia), Switzerland and the United Arab Emirates. Its core purpose is to enhance the quality of life of patients by providing acute care, specialist-orientated, multi-disciplinary healthcare services. Mediclinic also holds a 29.9% interest in Spire Healthcare Group plc, a LSE listed and UK-based private healthcare group.

Mediclinic comprises 75 hospitals and 29 clinics. Mediclinic Southern Africa operates 49 hospitals and 2 day clinics throughout South Africa and 3 hospitals in Namibia with more than 8 000 inpatient beds in total; Hirslanden operates 17 private acute care facilities and 4 clinics in Switzerland with more than 1 700 inpatient beds; and Mediclinic Middle East operates 6 hospitals and 23 clinics with more than 700 inpatient beds in the United Arab Emirates.

During February 2016, the combination of the Company (previously named Al Noor Hospitals Group plc), with operations mainly in Abu Dhabi in the United Arab Emirates, and Mediclinic International Limited was completed. Mediclinic International Limited was a South African based international private healthcare group founded in 1983 and listed on the JSE, the South African stock exchange, since 1986, with operations in South Africa, Namibia, Switzerland and the United Arab Emirates (mainly in Dubai). The combination resulted in the renaming of the enlarged group to Mediclinic International plc.

Mediclinic has a primary listing on the Main Market of the LSE, with secondary listings on the JSE in South Africa and the NSX in Namibia.

For further information, please contact:

Company Secretary, Link Company Matters Limited

Victoria Dalby / Caroline Emmet

[phone]

Investor Relations, Mediclinic International plc

James Arnold, Head of Investor Relations

[e-mail]

[phone]

Media queries

FTI Consulting

Brett Pollard / Debbie Scott (UK)

[phone]

Frank Ford (South Africa)

[phone]

Registered address: 6th Floor, 65 Gresham Street, London, United Kingdom, EC2V 7NQ

Website: www.mediclinic.com

Corporate broker: Morgan Stanley & Co International plc

JSE sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)

NSX sponsor: Simonis Storm Securities (Pty) Ltd