5th Dec 2006 07:01
The MedicX Fund Limited05 December 2006 For immediate release 5 December 2006 MedicX Fund Limited ("MedicX Fund", "the Fund" or "the Company") Acquisition of Six Further Sites MedicX Fund, the specialist investor in modern purpose built primary healthcareproperties which on 2 November 2006 listed on the Official List of the LondonStock Exchange, today announces that it has completed the acquisition ofMedcentres Property Limited for £4.52 million, a portfolio of six completedsites, from the NJ and D Arnold Settlement trust. The purchase price paid was£3.52 million in cash and £1 million in MedicX Fund shares issued at a price of£1 per share. Immediately following acquisition Medcentres repaid bank debt of£7.56 million. This acquisition was not included in the pipeline reported inthe Medicx Fund prospectus. Medcentres owns six completed properties in Colchester, Marlborough, Norfolk,Dorset, Northleach and Swindon. The current rent of the properties is £737,000per annum in aggregate and the properties have been valued by DTZ Debenham TieLeung, valuers to the MedicX Fund, at £13.1m. The six new sites bring the totalnumber of primary healthcare properties owned by the MedicX Fund to 22 in total. Medcentres Property Ltd will be renamed MedicX Properties III Ltd. Keith Maddin, Chairman of MedicX Group, said: "We are very pleased to havecompleted this acquisition which was not included within our pipeline at thetime of the MedicX Fund's prospectus. These properties further expand MedicXFund's presence in the south of England." End For further information please contact: MedicX Group +44(0) 1252 704 272 Keith Maddin, ChairmanMike Adams, Managing Director Buchanan Communications +44 (0) 20 7466 5000 Charles Ryland / Lisa Baderoon / Mary-Jane Johnson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Medicx Fund