Results of Issue

RNS Number : 1703R

The MedicX Fund Limited

23 October 2013

 

Press Release

For immediate release                                                                                    

23 October 2013

MedicX Fund Limited

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

Results of the Issue

Further to the announcement on 21 October 2013, the Board of Directors of MedicX Fund Limited, (LSE: MXF) (the "Company"), the specialist primary care infrastructure investor in modern purpose-built primary healthcare properties in the United Kingdom, is pleased to announce that the Company has raised gross proceeds of £48.75 million through the Placing, Open Offer and Offer for Subscription (the "Issue").  The Issue was substantially over-subscribed. 

As a result, a total of 85,000,000 New Ordinary Shares have been issued, subject to Admission, at the issue price of 75p each, of which 20,000,000 (being the minimum stated in the Prospectus) will be immediately bought back by the Company at the Issue Price and held in treasury to satisfy demand under the scrip dividend scheme and to be issued into the market for general corporate purposes.

The Company intends to use the proceeds of the Issue to fund new investments and to take advantage of future pipeline opportunities. 

David Staples, Chairman of the Company, commented,

"We are delighted that the fund raising was so well received by our existing shareholder base and attracted significant interest from a range of new investors resulting in the Issue being substantially over-subscribed. We believe that this demand reflects the strength of the investment proposition.

We continue to see a pipeline of additional investments at attractive prices and the Issue positions the Fund to take advantage of these opportunities."

End

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

Canaccord Genuity Limited                                                          [phone]

Andrew Zychowski / Lucy Lewis

Buchanan                                                                                  [phone]

Charles Ryland / Sophie McNulty

Information on MedicX Fund Limited

MedicX Fund Limited 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 122 properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Conduct Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 31 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.

 

END

 

 

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