11th Feb 2008 07:00
The MedicX Fund Limited11 February 2008 For Immediate Release 11 February 2008 MedicX Fund Limited ("MedicX Fund", "the Fund" or "the Company") AGM Statement MedicX Fund Limited (LSE: MXF), the specialist investor in modern purpose builtprimary healthcare properties in the United Kingdom, announces that at theannual general meeting to be held later today the Chairman will make thefollowing statement. This statement also forms the Company's Interim Management Statement relating tothe period from 1 October 2007 to today's date. "I am pleased to report that the MedicX Fund has performed in line withexpectations for the period since 1 October 2007. The Company has completed the development of three properties at Evesham,Wollaton and Rothwell during this period. The Company has also entered into forward funding agreements to acquire threemore primary care medical centres at Lytham, Gosberton and Castlecroft. Thetotal acquisition cost of the properties is £18.2 million. To date the Company has investments and commitments amounting to £161 millionacross 45 properties. It continues to have a strong pipeline of investmentopportunities and is on track to invest £200 million by mid-2008. The portfolioof properties is performing in line with our long-term objectives and there areno material operational or financial issues to report. The recent reduction in values in the commercial property sector has impactedthe primary care property sector. However, due to the quality of the income fromthe asset class we believe that the impact has been relatively limited and doesnot, in our opinion, impact the long term attractiveness of the sector. One ofthe benefits of the adjustment in values is that it has enabled the group tomake acquisitions at attractive levels. We are optimistic about the prospectsfor the MedicX Fund. On 11 January 2008 a dividend of 2.5p per ordinary share was paid toshareholders, making a total of 5p per share for the year. We intend to maintainour progressive dividend policy." Jorge TavaresChairman Information on MedicX Fund Limited MedicX Fund Limited ("MXF" or the "Company", or together with its subsidiaries,the "Group") the specialist investor in modern purpose-built primary healthcareproperties in the United Kingdom, listed on the London Stock Exchange inNovember 2006. It has committed investment of £161 million and a portfolio of 45properties. The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorisedand regulated by the Financial Services Authority, and is a subsidiary of theMedicX Group. The MedicX Group is a specialist investor, developer and managerof primary healthcare properties with a team of 31 operating across 4 regionaloffices. -Ends- For further information please contact: MedicX Fund +44 (0) 1481 723 450Jorge Tavares, Chairman MedicX Group +44 (0) 0808 2025461Keith Maddin, ChairmanMike Adams, Managing Director Buchanan Communications +44 (0) 20 7466 5000Charles Ryland, PartnerMary-Jane Johnson, Partner This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Medicx Fund