UMG’s Board of Directors recommends paying out EUR 76 million in dividends for 2020
Nicosia, Cyprus, 27 August 2021. United Medical Group CY PLC (hereinafter referred to as “the Company”, together with its subsidiaries, “the Group” or “EMC”, MOEX ticker: GEMC), a leading provider of comprehensive premium medical services in Russia, operating under the European Medical Center brand, hereby announces that, at a meeting on 27 August 2021, the Company’s Board of Directors recommended that final dividends for the year ended 31 December 2020 be distributed in the amount of EUR 75,96 million at a rate of EUR 0.8444 per share. This recommendation is fully in line with the Company’s previously announced plans to pay out guaranteed dividends in the amount of EUR 114 million in 2021. The Board of Directors will recommend a second payment in the third or fourth quarter of 2021.
The Company’s Annual General Meeting of Shareholders, which has to approve the payments for 2020, will be held on 20 September 2021 in the form of proxy voting. In accordance with the Company’s Charter and dividend policy, the list of persons entitled to receive dividends is compiled as of the date of approval of the payment decision by the General Meeting of Shareholders.
In addition to the recommendation of dividends, the Board of Directors approved Deloitte Limited Cyprus as the auditor of the Company’s and the Group’s financial statements as well as the Company’s stand-alone and consolidated financial statements for 2020 and the Company’s consolidated financial statements for the first half of 2021.
Important Note
NEITHER THIS ANNOUNCEMENT NOR THE INFORMATION CONTAINED HEREIN IS FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR TO ANY PERSON IN ANY OF THOSE JURISDICTIONS OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE LAWS OF SUCH JURISDICTION.
These materials are not intended to and do not constitute investment advice. These materials do not constitute or form any part of and should not be constructed as an offer or commitment to sell or issue, a solicitation, recommendation, commitment or invitation to subscribe for, underwrite or otherwise acquire, and should not be construed as an advertisement for, any securities of United Medical Group CY PLC or any member of its group in any jurisdiction or an inducement to enter into investment activity in any jurisdiction.
Overview
- EMC is the second-largest private healthcare provider in Russia by revenue[1] and the largest by adjusted EBITDA[2] [3] and has been operating in the Russian private healthcare market for 30+ years – the longest track record of any major private healthcare business in this market[4].
- EMC is a fully integrated healthcare services provider offering a comprehensive range of diversified medical services, and has advanced capabilities in more than 57 specialisations.
- EMC’s network comprises seven multidisciplinary medical centres, one maternity centre and one rehabilitation centre (with a total built-up area of approximately 87 thousand square metres), as well as three geriatric centres (with a total built-up area of approximately 14 thousand square metres). As at 31 March 2021, the Group had 2,593 employees, comprising 752 physicians, 1,472 nurses and other medical staff and 369 administrative and support staff.
- EMC is a leading Russian provider of cancer treatment with extensive expertise in a full range of modern oncology treatment methods, state-of-the-art facilities and equipment as well as renowned experts with international experience.
Investor and Media Inquires
Dmitry Ivanov
Director Investor Relations
+357 993366278
ir@emc-investors.com
https://emc-investor.com/
https://t.me/emcinvestor
[1] According to EMC estimates, based on data for 2020.
[2] For EMC, calculated as profit for the period/year adjusted for income tax benefit, other income / (expenses), net, (expense)/income on change in fair value of financial instruments, foreign exchange (loss)/gain, finance expense, and finance income, less construction revenue plus cost of construction, non-recurring expenses, depreciation of property plant and equipment (representing depreciation of property plant and equipment attributable to (a) cost of medical services and products provided, (b) selling expenses and (c) general and administrative expenses and amortisation of intangible assets (representing amortisation of intangible assets attributable to (a) cost of medical services and products provided, (b) selling expenses and (c) general and administrative expenses)) for the period.
[3] Estimated based on EMC’s adjusted EBITDA for 2020 and the latest publicly available information from the Company’s private healthcare Russian peers.
[4] According to EMC’s estimates.