10th Dec 2007 07:01
The MedicX Fund Limited10 December 2007 For immediate release 10 December 2007 MedicX Fund Limited ("MedicX Fund", "the Fund" or "the Company") C Share Conversion MedicX Fund, (LSE: MXF, LSE: MXFC), the specialist investor in modern purposebuilt primary healthcare properties, today announces details of the conversionof C shares to Ordinary shares. Further to the Company's announcement on 1 October 2007 that the CalculationTime for the conversion of C Shares into Ordinary Shares was 30 September 2007,the Board of Directors has determined that the C Shares will convert intoOrdinary Shares on the opening of business on 12 December (the "ConversionTime"). The Ordinary Shares arising on Conversion will rank in full for alldividends and other distributions declared, made or paid and otherwise paripassu with the Ordinary Shares already in issue at the Conversion Time. Net Asset Values as at 30 September 2007 Ordinary Share adjusted net asset value1 96.96 pence per shareC Share Share adjusted net asset value1 96.87 pence per share 1 Adjusted to exclude goodwill and the impact of deferred tax not expected tocrystallise Conversion Ratio The Directors have considered the calculation of the Conversion ratio and,having taken account of any adjustments that are considered appropriate by theDirectors, the Conversion Ratio for the Conversion of the C Shares is 1.0000Ordinary Shares for every one C Share. This calculation has been reviewed by theCompany's auditors. Other matters Fractions of Ordinary Shares arising on Conversion will not be allocated toholders of C Shares but will be aggregated and sold for the benefit of theCompany. Following Conversion, the Company will have 79,621,215 Ordinary Sharesin issue. Application has been made to the UK Listing Authority for the 22,160,500Ordinary Shares arising on Conversion to be admitted to the Official List. Anapplication has been made to the London Stock Exchange for the same number ofOrdinary Shares to be admitted to trading on the London Stock Exchange. The CShares are to be permanently removed from the trading on the London StockExchange at close of business on 11 December 2007. Trading in the convertedOrdinary Shares is expected to commence at 8.00.am on 12 December 2007. Certificates for the Ordinary Shares arising on Conversion are expected to bedespatched within 5 business days of the conversion date. All terms used in this announcement are defined as set out in the Prospectusdated 2 May 2007. End For further information please contact: MedicX Fund +44 (0) 1481 723450Alison Simpson, Director MedicX Group +44 (0) 1483 869500Keith Maddin, ChairmanMike Adams, Managing Director Buchanan Communications +44 (0) 20 7466 5000Charles Ryland / Lisa Baderoon / Mary-Jane Johnson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Medicx Fund