24 Feb 2016 10:07
For immediate release
24 February 2016
MedicX Fund Limited
("MedicX Fund", "the Fund" or "the Company")
Publication of Circular to Shareholders - Scrip Dividend Scheme
On 2 February 2016, the Board of MedicX Fund Limited (the "Company") announced -(a) that a quarterly dividend of 1.4875p per ordinary share ("Ordinary Share") had been approved in respect of the period 1 October 2015 to 31 December 2015, payable on 31 March 2016 to Shareholders on the register as at close of business on 19 February 2016 (the "March 2016 Dividend"); and (b) 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 2016 Dividend in Scrip Shares (the "Scrip Dividend Alternative") instead of in cash.
The Company posted yesterday, to any Shareholders new to the Company since 20 November 2015, 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. A mandate form for certificated Shareholders to elect for the Scrip Dividend Alternative (the "Mandate Form") is also included. 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 19 February 2016 that require a new mandate form are asked to contact Capita Asset Services on 0871 664 0300*.
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. 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 (www.morningstar.co.uk/uk/nsm).
The price at which the March 2016 Dividend will be converted into Scrip Shares (the "Scrip Calculation Price") will be announced to the London Stock Exchange on 25 February 2016. 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 2016 Dividend their Mandate Form (or relevant CREST election) must be received by Capita Asset Services by no later than 5.00 p.m. on 8 March 2016 (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.
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).
End
For further information please contact:
MedicX Fund +44 (0) 1481 723 450
David Staples, Chairman
Octopus Healthcare Group +44 (0) 1483 869 500
Mike Adams, Chief Executive Officer
Buchanan +44 (0) 20 7466 5000
Charles Ryland/Vicky Watkins
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 150 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 billion of healthcare investments across a number of platforms, with a focus on four core areas: GP surgeries, care homes, 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 £5.5 billion of funds for more than 50,000 retail and institutional investors.
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.