Results of Issue
FOR IMMEDIATE RELEASE 2 March 2011
Press Release
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR JAPAN
MedicX Fund Limited
("MedicX Fund", "the Fund" or "the Company")
Results of Placing, Open Offer and Offer for Subscription and
Total Voting Rights
Results of Issue
The Board of Directors of MedicX Fund Limited, (LSE: MXF) (the "Company"), the specialist primary care infrastructure investor in modern purpose-built primary healthcare properties in the United Kingdom, is pleased to announce the results of its Placing, Open Offer and Offer for Subscription (together, the "Issue") of new ordinary shares (the "New Ordinary Shares") at an issue price of 72p per New Ordinary Share (the "Issue Price").
The Company has raised approximately £34.3 million pursuant to the Issue. A total of 47,650,000 New Ordinary Shares will be issued at the Issue Price.
Applications were received for a total of 16,651,677 New Ordinary Shares under the Open Offer, of which 182,577 were applied for under the Excess Application Facility. A further 2,600,066 New Ordinary Shares were applied for under the Offer for Subscription. The balance of 28,398,257 New Ordinary Shares will be issued pursuant to the Placing.
David Staples, the Chairman of the Company, took up his entitlement to 10,565 New Ordinary Shares under the Open Offer. Fellow Company directors Christopher Bennett, Shelagh Mason and John Hearle (either personally or through trusts of which they are beneficiary) subscribed for shares under the Placing, with Mr Bennett and Ms Mason purchasing 7,000 shares each, and Mr Hearle purchasing 14,000 shares.
Application has been made for the New Ordinary Shares to be admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the main market for listed securities of the London Stock Exchange. Dealings in the New Ordinary Shares are expected to commence on 4 March 2011.
The New Ordinary Shares, when issued and fully paid, will rank pari passu with the existing Ordinary Shares.
Following Admission, the Company will have a market capitalisation (at the Issue Price) of approximately £137 million.
Total Voting Rights
Following Admission, the total issued share capital of the Company will consist of 190,216,144 Ordinary Shares with voting rights. This figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
Terms defined in the prospectus published by the Company on 2 February 2011 shall have the same meanings in this announcement.
Further information on the Company can be found on the Company's website www.medicxfund.com.
For further information please contact:
MedicX Fund +44 (0) 1481 723 450
David Staples, Chairman
MedicX Group +44 (0) 1483 869 500
Keith Maddin, Chairman
Mike Adams, Chief Executive Officer
Mark Osmond, Chief Financial Officer
Collins Stewart Europe Limited +44 (0) 20 7523 8000
Andrew Zychowski/Stephen Newby
Buchanan Communications +44 (0) 20 7466 5000
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) is incorporated into, or forms part of, this announcement.
Important Information
This announcement is for information purposes only and does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, any securities of the Company to any person in any jurisdiction and is not for release, publication or distribution in or into the United States, Japan, Canada, Australia, the Republic of South Africa, New Zealand or the Republic of Ireland. The New Ordinary Shares to be issued under the Open Offer, Offer for Subscription and the Placing have not been and will not be registered under the US Securities Act of 1933, as amended or under the applicable securities laws of Japan, Canada, Australia, the Republic of South Africa, New Zealand or the Republic of Ireland. Subject to certain exceptions, the New Ordinary Shares may not be offered sold or resold in the United States, Japan, Canada, Australia, the Republic of South Africa, New Zealand or the Republic of Ireland.
Collins Stewart Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as sponsor to MedicX Fund Limited and is acting for no-one else in connection with the Issue and the contents of this announcement, and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Collins Stewart Europe Limited nor for providing advice in connection with the Issue and the contents of this announcement or any other matter referred to herein. Collins Stewart Europe Limited is not responsible for the contents of this announcement. This does not exclude or limit any responsibilities which Collins Stewart Europe Limited may have under the Financial Services and Markets Act 2000 (as amended) or the regulatory regime established thereunder.
This information is provided by RNS