Circular Re Scrip Dividend

RNS Number : 0524M

The MedicX Fund Limited

17 May 2010

 



For Immediate Release

17 May 2010

MedicX Fund Limited

("MedicX Fund", "the Fund" or "the Company")

Publication of Circular to Shareholders - Scrip Dividend Scheme

On 5 May 2010, the Board of MedicX Fund Limited (the "Company") announced that it had approved a quarterly dividend of 1.35p per ordinary share ("Ordinary Share") in respect of the period 1 January 2010 to 31 March 2010 and payable on 30 June 2010 (the "June 2010 Dividend") and that Shareholders on the register as at close of business on 14 May 2010 would be offered the opportunity to take up new Ordinary Shares ("Scrip Shares") instead of cash in respect of such dividends subject to certain terms and conditions (the "Scheme").  Accordingly, the Board is now pleased to offer qualifying Shareholders the opportunity to receive the June 2010 Dividend in Scrip Shares (the "Scrip Dividend Alternative") instead of in cash.

Scrip dividends are attractive to many shareholders because they enable shareholders to increase their holding in the Company in a simple manner without incurring any dealing costs or stamp duty.  At the same time, the Company will retain more cash in its business which would otherwise be paid as a dividend.

The Company will post to Shareholders today a letter from the Chairman and a scheme document setting out the detailed terms and conditions of the Scheme (together the "Circular"). The Circular provides details of the Scrip Dividend Alternative and explains how Shareholders may elect to receive the Scrip Dividend Alternative instead of cash dividends along with a mandate form for certificated Shareholders to elect for the Scrip Dividend Alternative (the "Mandate Form").

The price at which the June 2010 Dividend will be converted into Scrip Shares (the "Scrip Calculation Price") will be announced to the London Stock Exchange on 19 May 2010. This announcement (together with details of the Scheme) will also appear on the Company's website www.medicxfund.com/investors. The Scrip Calculation Price is the average of the closing middle market quotations of an Ordinary Share, derived from the London Stock Exchange Daily Official List, for the five consecutive business days commencing on the ex-dividend Date.

If qualifying Shareholders wish to elect to participate in the Scrip Dividend Alternative in relation to the June 2010 Dividend their Mandate Form (or relevant CREST election) must be received by Capita Registrars by no later than 5.00 pm on 4 June 2010 (the "Delivery Deadline").  Shareholders should refer to the Circular for the full terms and conditions of the Scheme and the election procedure for certificated and uncertificated Shareholders.

Copies of the Circular have been submitted to the Financial Services Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility at the address below:

The Financial Services Authority,

25 The North Colonnade,

Canary Wharf,

London,

E14 5HS

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For further information please contact:

MedicX Fund                                                                              [phone]

David Staples, Chairman

MedicX Group                                                                            [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

Collins Stewart                                                                           [phone]

Andrew Zychowski (Corporate)

Lucy Lewis (Corporate)

Information on MedicX Fund Limited

MedicX Fund Limited ("MXF", the "Fund" or the "Company", or together with its subsidiaries, the "Group") is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 52 properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Services Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 34 people operating across the UK.  

The Company's website address is www.medicxfund.com 

 

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