Almost 60% of the minority shareholders in Mediclinic, SA’s biggest private hospital group, have voted against its latest executive pay report, signalling mounting unhappiness among institutional investors about its remuneration policy.

Mediclinic has shed more than 70% of its value in the past three years, thanks to a series of disappointing offshore ventures that saw it write down the value of its investments in the UK-based Spire Healthcare Group and Switzerland’s Hirslanden by a combined £405m in the year to March 31.

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