Result of AGM

RNS Number : 8346B

The MedicX Fund Limited

24 February 2011

 



For immediate release                                                                                                 24 February 2011

MedicX Fund Limited

("MedicX Fund", "the Fund" or "the Company")

Annual General Meeting results

The Board of MedicX Fund Limited is pleased to announce that at the Annual General Meeting of its Shareholders held at 10.30 a.m. on 24 February 2011, the resolutions were duly passed.  The details of each such resolution are as follows:

1. ORDINARY RESOLUTION	IT WAS RESOLVED to reappoint PKF (UK) LLP as auditors of the Company. In Favour - 51,176,983 (100%) Against - nil Withheld - nil
2. ORDINARY RESOLUTION	IT WAS RESOLVED to authorise the directors to determine the remuneration of the auditors. In Favour - 51,141,037 (100.0%) Against - nil Withheld - 35,946
3. ORDINARY RESOLUTION	IT WAS RESOLVED to adopt the Annual Report and the Audited Financial Statements for the Company for the year ended 30 September 2010. In Favour - 50,799,035 (99.3%) Against - 377,948 (0.7%) Withheld - nil
4. ORDINARY RESOLUTION	IT WAS RESOLVED to approve the Directors' remuneration report for the year ended 30 September 2010. In Favour - 51,176,983 (100.0%) Against - nil Withheld - nil
5. ORDINARY RESOLUTION	IT WAS RESOLVED to re-appoint Christopher Bennett as a Director of the Company, who retires in accordance with Article 18.4 of the Company's Articles of Incorporation. In Favour - 51,176,983 (100.0%) Against - nil Withheld - nil
6. ORDINARY RESOLUTION	IT WAS RESOLVED to renew the authority set out in Article 4.2 of the Articles of Incorporation of the Company for a further period up to the next annual general meeting of the Company so that (without prejudice to the authority conferred on the Directors pursuant to Article 4) the Directors are generally and unconditionally authorised in substitution for all existing authorities to exercise all powers of the Company to allot, grant rights to subscribe for, or to convert any securities into, shares in the Company ("Equity Securities"): a)   Up to an amount of 47,522,045 shares; and b)   Up to a further amount of 47,522,045 shares in connection with any offer by way of a rights issue in favour of holders of Equity Securities where the Equity Securities respectively attributable to the interest of all holders of Equity Securities are proportionate (as nearly as may be practicable) to the respective numbers of Equity Securities held by them, which authorities shall expire at the conclusion of the next annual general meeting of the Company to be held in 2012 after the passing of this resolution (unless previously renewed revoked or varied by the Company in general meeting), except that the Company may make an offer or agreement before such expiry, which would or might require allotments of Equity Securities after such expiry, and the Directors may allot Equity Securities in pursuance of any such offer or agreement as if the authority in question had not expired. In Favour - 47,436,237 (99.8%) Against - 85,997 (0.2%) Withheld - 3,654,749
7. SPECIAL RESOLUTION	IT WAS RESOLVED that the Company be generally and unconditionally authorised to make market acquisitions of Ordinary Shares (within the meaning of Section 314 of the Companies (Guernsey) Law, 2008 as amended) provided that: -      the maximum number of Ordinary Shares authorised to be acquired is such number representing 14.99 per cent. of the issued share capital of the Company (rounded to the nearest whole number); -      the minimum price that may be paid for each Ordinary Share is one penny; -      the maximum price that may be paid for each Ordinary Share is an amount equal to the higher of: (i) 105 per cent. of the average of the middle market quotations for a share as derived from the Daily Official List of the London Stock Exchange for the five Business Days immediately preceding the day on which that share is purchased; (ii) the price of the last independent trade; and (iii) the highest current independent bid at the time of purchase; -      the authority conferred shall expire at the conclusion of the next annual general meeting of the Company, unless such authority is renewed prior to such time; and -      the Company may, before such expiry, make an offer or agreement which would or might require shares to be repurchased after such expiry and the Company may repurchase shares in pursuance of such an offer or agreement as if the authority conferred hereby had not expired. In Favour - 51,141,037 (100.0%) Against - nil Withheld - 35,946
8. SPECIAL RESOLUTION	IT WAS RESOLVED that following the passing of Resolution 6, and in accordance with Article 13.5, Article 13.3 shall be disapplied to the extent necessary to provide the Directors with authority to allot Equity Securities for cash pursuant to the authority conferred by Resolution 6, such power to be limited: (a)  to the allotment of Equity Securities in connection with a rights issue in favour of holders of Equity Securities where the Equity Securities respectively attributable to the interests of all holders of Equity Securities are proportionate (as nearly as may be practicable) to the respective numbers of Equity Securities held by them; and (b)  to the allotment (otherwise than under paragraph (a) above) of Equity Securities up to an amount representing 10 per cent of the issued share capital of the Company on a non-pre-emptive basis, provided that such Equity Securities are issued at a price not less than the Company's adjusted net asset value per share at the time of the issue, and provided that this authority shall expire at the conclusion of the Company's next annual general meeting to be held in 2012 after the passing of this resolution (unless previously renewed, revoked or varied by the Company in general meeting), except that the Company may make an offer or agreement before such expiry, which would or might require allotments of Equity Securities after such expiry, and the Directors may allot Equity Securities in pursuance of any such offer or agreement as if the authority in question had not expired. In Favour - 47,485,611 (93.0%) Against - 3,569,429 (7.0%) Withheld - 121,943

Notes:

·      The votes "for" the resolution are calculated as the aggregate of proxy instructions voting "for" the resolution and the votes at the Chairman's discretion.

·      A vote "withheld" is not a vote in law and is not calculated in the proportion of the votes "for" and "against" the resolution.

·      The total number of voting rights at the proxy deadline was 142,566,144.

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

Buchanan Communications                                                          [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 a 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 58 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 30 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.

 

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