LONDON (Alliance News) - Healthcare-focused property investor Primary Health Properties PLC said on Thursday that the court has approved of the all-share merger between it and MedicX Fund Ltd.
In late January, Primary Health Properties and MedicX agreed to a merger in which MedicX shareholders will receive 0.77 new PHP shares for each MedicX share held, meaning Primary Health shareholders will own 69% of the newly formed firm.
Shares in Primary Health Properties were up 1.8% at 129.33 pence on Thursday, while MedicX shares have been suspended, to be cancelled from trading on Friday.
Also on Friday, 341.0 million new shares in Primary Health Properties will be admitted to trading.
In a separate announcement, Primary Health Properties will appoint former MedicX chair Helen Mahy as deputy chair, and Non-Executive Director Laure Duhot to Primary Health's board.