18 Aug 2015 07:00
For immediate release
18 August 2015
MedicX Fund Limited
("MedicX Fund", "the Fund" or "the Company")
Publication of Circular to Shareholders - Scrip Dividend Scheme
On 28 July 2015, the Board of MedicX Fund Limited (the "Company") announced -(a) that a quarterly dividend of 1.475p per ordinary share ("Ordinary Share") had been approved in respect of the period 1 April 2015 to 30 June 2015, payable on 30 September 2015 to Shareholders on the register as at close of business on 14 August 2015 (the "September 2015 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 September 2015 Dividend in Scrip Shares (the "Scrip Dividend Alternative") instead of in cash.
The Company posted today, to any Shareholders new to the Company since 16 May 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 14 August 2015 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 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 (www.morningstar.co.uk/uk/nsm).
The price at which the September 2015 Dividend will be converted into Scrip Shares (the "Scrip Calculation Price") will be announced to the London Stock Exchange on 20 August 2015. 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 September 2015 Dividend their Mandate Form (or relevant CREST election) must be received by Capita Asset Services by no later than 5.00 p.m. on 9 September 2015 (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
Mark Osmond, Chief Financial Officer
Buchanan +44 (0) 20 7466 5000
Charles Ryland/Sophie McNulty
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 143 properties.
The Investment Adviser to the Company is Octopus Healthcare Adviser Ltd, which is authorised and regulated by the Financial Conduct Authority and is a subsidiary of the Octopus Healthcare Group. The Octopus Healthcare Group is a specialist investor, developer and manager of healthcare properties with 38 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.