Publication of Circular - Scrip Dividend Scheme

RNS Number : 4461F

The MedicX Fund Limited

20 February 2018

 

For immediate release

20 February 2018

MedicX Fund Limited

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

Publication of Circular to Shareholders - Scrip Dividend Scheme

On 1 February 2018, the Board of MedicX Fund Limited announced:
(a) that a quarterly dividend of 1.51p per Ordinary Share had been approved in respect of the period 1 October 2017 to 31 December 2017, payable on 29 March 2018 to Shareholders on the register as at close of business on 16 February 2018 (the "March 2018 Dividend"); (b) the quarterly dividend will comprise 50% (0.755p) Property Income Distribution ("PID") and 50% ordinary dividend (0.755p); and (c) that Shareholders would be offered the opportunity to take up new Ordinary Shares ("Scrip Shares") instead of cash in respect of that dividend, subject to certain terms and conditions, by participating in the Scrip Dividend Scheme (the "Scheme"). 

Accordingly, the Board is now pleased to offer qualifying Shareholders the opportunity to receive the March 2018 Dividend in Scrip Shares (the "Scrip Dividend Alternative") instead of in cash.

The Company posted today, to Shareholders new to the Company since 17 November 2018, a letter from the Chairman and a copy of the Scheme Document setting out the detailed terms and conditions of the Scheme (together the "Circular"). This correspondence was also send in hard copy form to those Shareholders who have elected to receive correspondence by post and a link to these documents was e-mailed to those Shareholders who have elected and notified the Company that they wish to receive electronic communications. Other Shareholders who have deemed to have consented to electronic communications via the Company's website can view or download the latest Circular which can be found on the following link: http://www.medicxfund.com/investors/scrip-dividend-scheme.

Certificated Shareholders who wish to elect for the Scrip Dividend Alternative and do so online at https://www.signalshares.com or a Mandate Form can be obtained by contacting the Company's registrar, Link Asset Services on 0371 664 0321*. Uncertificated Shareholders can make an election via the CREST system.  

Scrip dividends are attractive to many shareholders because they enable them 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. Shareholders are encouraged to review the details of the Scheme and the associated documents, which may be found on the Company website as detailed above, or alternatively may be viewed through the National Storage Mechanism (www.morningstar.co.uk/uk/nsm).

The price at which the March 2018 Dividend will be converted into Scrip Shares (the "Scrip Calculation Price") will be announced to the London Stock Exchange by 22 February 2018. This announcement (together with details of the Scheme) will also appear on the Company's website www.medicxfund.com. 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 2018 Dividend their election, Mandate Form (or relevant CREST election) must be received by Link Asset Services by no later than 5.00 p.m. on 8 March 2018 (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. Mandate Forms remain valid for all Relevant Dividends where a Scrip Dividend Alternative is offered, until cancelled.

A copy of the Circular has been submitted to the Financial Conduct Authority and is available for inspection through the National Storage Mechanism (www.morningstar.co.uk/uk/nsm).

*Calls made to this number are charged at 10 pence per minute plus network charges. Lines are open 8.30 a.m. to 5.30 p.m. (London time) Monday to Friday (except Bank Holidays).

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For further information please contact:

Octopus Healthcare Adviser Ltd                                        [phone]

Octopus Healthcare Group                                             [phone]

Mike Adams, Chief Executive Officer

Buchanan                                                                      [phone]

Charles Ryland/Vicky Hayns

Information on MedicX Fund Limited

MedicX Fund Limited ("MXF", "MedicX Fund", 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 and Ireland, listed on the London Stock Exchange, with a portfolio comprising 153 properties.

The Investment Adviser to the Company is Octopus Healthcare Adviser Ltd, which is part of the Octopus Healthcare group. Octopus Healthcare invests in and develops properties as well as creating partnerships to deliver innovative healthcare buildings to improve the health, wealth and wellbeing of the UK. It currently manages over £1.2 billion of healthcare investments across a number of platforms, with a focus on five core areas: GP surgeries, care homes, special education schools, retirement housing and private hospitals. Octopus Healthcare is part of the Octopus group, a fast-growing UK fund management business with leading positions in several specialist sectors including healthcare property, energy, property finance and smaller company investing. Octopus manages £7 billion of funds for more than 50,000 retail and institutional investors as well as supplying energy to more than 100,000 customers

Octopus Healthcare Adviser Ltd is authorised and regulated by the Financial Conduct Authority.

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.

The Company's Legal Entity Identifier is 2138008POF35FTNFCB25.

 

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