MDY Mdy Healthcare

 

TIDMMDY 
 
RNS Number : 6556T 
MDY Healthcare PLC 
01 October 2010 
 

                               MDY Healthcare plc 
 
                      Change of board and grant of options 
 
 
1 October 2010: MDY Healthcare plc ("MDY Healthcare" or the "Company"), the 
strategic investor in healthcare companies, today announces that Alan MacKay, 
non-executive director and Chairman of MDY Healthcare, has resigned with effect 
from 30 September 2010, the Company's financial year end.  The Company also 
announces that Mr Grahame Cook and Mr Martin Hunt, both existing non-executive 
directors of the Company, have been appointed respectively as Chairman and 
Deputy Chairman of the Company with immediate effect. 
 
Grahame Cook, Chairman, commented, "On behalf of the Board and shareholders, I 
would like to thank Alan MacKay for overseeing a difficult period in the 
Company's evolution, and in particular, implementing a number of cost reduction 
initiatives and the restructuring of the board.  I welcome the opportunity to 
work closely with Martin Hunt to realise value for shareholders." 
 
To reflect Mr Cook's and Mr Hunt's increased responsibilities, including 
completion of the ongoing strategic review of the Company and their role in 
enhancing shareholder value, on 30 September 2010, the board awarded up to 
600,000 options to each of Mr Cook and Mr Hunt.  The options over ordinary 
shares of 1 pence each are exercisable on achieving targeted realisations of the 
Company's underlying investments and at a price of 20.5 pence per share (the 
average mid-market price of a share of the Company for the 30 trading days 
preceding the date of grant).  Mr Hunt and Mr Cook did not hold options over the 
Company's shares prior to this award. 
 
Following this grant of options, the total number of shares under option which 
could be issued if all of the performance criteria are met is 1,200,000 ordinary 
shares, representing 7.4 per cent of the current issued share capital of the 
Company.  At today's trading date, the issued share capital of the Company is 
16,271,676 ordinary shares of 1p each. 
 
 
For further information, please contact: 
 
+------------------------------+------------------------------+ 
| MDY Healthcare plc           |                              | 
+------------------------------+------------------------------+ 
| Grahame Cook, Chairman       | +44 (0) 207 647 1800         | 
+------------------------------+------------------------------+ 
|                              |                              | 
+------------------------------+------------------------------+ 
| Financial Dynamics           |                              | 
+------------------------------+------------------------------+ 
| Ben Atwell, Susan Quigley    | +44 (0) 207 831 3113         | 
+------------------------------+------------------------------+ 
| ben.atwell@fd.com,           |                              | 
| susan.quigley@fd.com         |                              | 
+------------------------------+------------------------------+ 
|                              |                              | 
+------------------------------+------------------------------+ 
| Brewin Dolphin Limited       |                              | 
| (Nomad)                      |                              | 
+------------------------------+------------------------------+ 
| Matt Davis                   | +44 (0) 845 213 4730         | 
+------------------------------+------------------------------+ 
 
Notes for editors: 
 
About MDY Healthcare 
MDY Healthcare plc is a sector specialised strategic investing company quoted on 
AIM (ticker symbol: MDY).  The Company seeks to achieve superior returns for 
shareholders by investing globally in companies, both public and private, across 
the healthcare sector.  The directors and executive have significant operational 
and investment experience in the sector and therefore the ability to identify 
and review a wide range of potential investments.  Further information can be 
found on the website www.mdyhealthcare.com. 
 
END 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 BOABLGDCGDXBGGG 
 

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