Results of Issue

RNS Number : 0305Y

The MedicX Fund Limited

23 February 2012

 



For immediate release                                                                                     23 February 2012

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 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 gross proceeds of approximately £37.22 million pursuant to the Issue.

A total of 70,000,000 New Ordinary Shares will be issued at the Issue Price, of which 18,300,000 will be immediately bought back by the Company at the Issue Price and held in treasury to satisfy demand under the scrip dividend scheme and to be issued into the market for general corporate purposes (the "Treasury Shares").  Applications were received for a total of 28,967,791 New Ordinary Shares under the Open Offer, of which 9,100,022 were applied for under the Excess Application Facility.  A further 1,804,000 New Ordinary Shares were applied for under the Offer for Subscription.  The balance of 39,228,209 New Ordinary Shares (including the Treasury Shares) will be issued pursuant to the Placing.  

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 27 February 2012 ("Admission").  The New Ordinary Shares, when issued and fully paid, will rank pari passu with the existing Ordinary Shares. 

All of the Directors (other than John Hearle who took up an equivalent amount in the Placing) took up their entitlements under the Open Offer and, in addition, Ms Mason subscribed for a further 7,000 New Ordinary Shares.  On Admission, the Directors (either personally or through trusts of which they are a beneficiary) will hold the following Ordinary Shares:

	Total Shares held	Percentage Holding
David Staples (Chairman)	56,526	0.023%
Christopher Bennett	9,063	0.004%
Shelagh Mason	16,230	0.007%
John Hearle	18,462	0.008%

MedicX Adviser Ltd, the Company's investment adviser (the "Investment Adviser") subscribed for 700,000 under the Open Offer.  Accordingly, following Admission, the Investment Adviser will hold 1,381,559 Ordinary Shares or 0.563% of the total voting rights.  In addition, 18,300,000 Ordinary Shares will be held by the Company in treasury.

Total Voting Rights

Following Admission, the total issued share capital of the Company will consist of 263,645,780 Ordinary Shares, of which 18,300,000 will be held in treasury. 

The figure of 245,345,780 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 30 January 2012 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                                                                [phone]

David Staples, Chairman

MedicX Group                                                              [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

Collins Stewart Europe Limited                                   [phone]

Andrew Zychowski / Lucy Lewis

Buchanan                                                                     [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 70 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 26 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.

 

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