Circular to Shareholders - Scrip Dividend Scheme

RNS Number : 6750B

The MedicX Fund Limited

22 February 2011

 



For immediate release                                                                                                 22 February 2011

MedicX Fund Limited

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

Publication of Circular to Shareholders - Scrip Dividend Scheme

On 2 February 2011, the Board of MedicX Fund Limited (the "Company") announced that it had approved a quarterly dividend of 1.375p per ordinary share ("Ordinary Share") in respect of the period 1 October 2010 to 31 December 2010 and payable on 31 March 2011 (the "March 2011 Dividend") and that Shareholders on the register as at close of business on 18 February 2011 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 March 2011 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 today, to any Shareholders new to the Company since 19 November 2010, 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").  Copies of the Circular and the Mandate Form are available on the Company's website.

The price at which the March 2011 Dividend will be converted into Scrip Shares (the "Scrip Calculation Price") will be announced to the London Stock Exchange on 23 February 2011. This announcement (together with details of the Scheme) will also appear on the Company's website www.medicxfund.com/scrip. 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 March 2011 Dividend their Mandate Form (or relevant CREST election) must be received by Capita Registrars by no later than 5.00 p.m. on 10 March 2011 (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 through the National Storage Mechanism (http://www.hemscott.com/nsm.do).

End

For further information please contact:

MedicX Group                                                              [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

MedicX Fund                                                                [phone]

David Staples, Chairman

Collins Stewart Europe Limited:                                         [phone]

Andrew Zychowski/Helen Goldsmith

Buchanan Communications                                            [phone]

Charles Ryland/Suzanne Brocks

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 58 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 30 people operating across the UK.  

The Company's website address is www.medicxfund.com.  Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website), nor the contents of any website accessible from hyperlinks within this announcement, are incorporated into, or forms part of, this announcement.

 

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