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BRIEF-Russia's MD Medical shareholders to vote on secondary offering
April 6, 2017 / 1:11 PM / in 8 months

BRIEF-Russia's MD Medical shareholders to vote on secondary offering


April 6(Reuters) - London-listed Russian healthcare provider MD Medical Group Investments Plc:

* Says that its shareholders on April 28 will vote on the issue of up to 8.4 million ordinary shares of US$0.08 each

* The board would be authorised to allot and issue up to 8.4 million shares until April 27, 2022

* The company can make use of this decision within next five years, now “it does not oblige to anything”, IR director Elena Romanova told Reuters

* The company has a large number of projects that were announced as part of the development strategy and will be implemented until 2021. If the implementation of the projects requires additional financing, and there will be favorable market conditions and a fair price for shares, “we do not exclude the possibility of holding an SPO”, she said

* The market was expecting the SPO in the spring window, but it did not take place

* MD Medical head Mark Kurtser had said his company is considering SPO in principle, but during a conference call on 2016 results he said there are no plans for the placement in the nearest future

Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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