Publication of Circular to Shareholders - Scrip Dividend Scheme
On 30 April 2012, the Board of MedicX Fund Limited (the "Company") announced that it had approved a quarterly dividend of 1.4p per ordinary share ("Ordinary Share") in respect of the period 1 January 2012 to 31 March 2012 and payable on 29 June 2012 (the "June 2012 Dividend") and that Shareholders on the register as at close of business on 18 May 2012 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 2012 Dividend in Scrip Shares (the "Scrip Dividend Alternative") instead of in cash.
The Company will post today, to any Shareholders new to the Company since 17 February 2012, 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 an example of the Mandate Form are available on the Company's website (http://www.medicxfund.com/scrip). Any existing shareholders at 17 February 2012 that require a new mandate form are asked to contact Capita Registrars on 0871 664 0321*.
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. There may be further advantages to receiving the dividend in this form and shareholders are encouraged to review the details of the Scheme and the associated documents, which may be found on the Company website, or alternatively may be viewed through the National Storage Mechanism (http://www.hemscott.com/nsm.do).
The price at which the June 2012 Dividend will be converted into Scrip Shares (the "Scrip Calculation Price") will be announced to the London Stock Exchange on 23 May 2012. 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 June 2012 Dividend their Mandate Form (or relevant CREST election) must be received by Capita Registrars by no later than 5.00 p.m. on 8 June 2012 (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).
*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).
For further information please contact:
+44 (0) 1483 869 500
Keith Maddin, Chairman
Mike Adams, Chief Executive Officer
Mark Osmond, Chief Financial Officer
+44 (0) 1481 723 450
David Staples, Chairman
Collins Stewart Europe Limited:
+44 (0) 20 7523 8000
Andrew Zychowski/Helen Goldsmith
+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 72 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 27 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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