Key facts

Specialist primary healthcare infrastructure fund
MedicX Fund is a leading investor in modern purpose-built primary healthcare properties leased to doctors and the NHS.

Investment in primary health and social care facilities is a key UK Government priority – new buildings provide people with modern integrated primary care services.

The Fund’s investment objective is to achieve rising rental income and capital growth from the property portfolio.

The key objective of the Fund is to increase net income over time to support a rising dividend and provide capital growth.


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MedicX Fundamentals (MXF)

Purely holding them Harry.

Notice of dividend

The Directors have approved a quarterly dividend of 1.4875p per Ordinary Share in respect of the period 1 October 2015 to 31 December 2015. The Directors expect, subject to unforeseen circumstances, to pay dividends totalling 5.95p per Ordinary Share in respect of the financial year ending 30 September 2016. The dividend will be paid on 31 March 2016 to ordinary shareholders on the register as at 19 February 2016 (the "Record Date"). The corresponding ex-dividend date will be 18 February 2016.

The Company is offering qualifying shareholders the opportunity to take new ordinary shares in the Company, credited as fully paid, in lieu of the cash dividend to be paid on 31 March 2016, by participating in the Scrip Dividend Scheme (the "Scheme") previously put in place by the Company on 5 May 2010.

StockMarketWire.com
MedicX Fund Ltd has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Brynhyfryd, Swansea. The property is due to be completed in January 2017. Total acquisition cost is GBP3m.

Annual General Meeting results

Publication of Circular to Shareholders - Scrip Dividend Scheme

Acquisition of a new primary healthcare centre
MedicX Fund Limited, (LSE: MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom and Ireland, is pleased to announce that it has contracted to acquire a modern primary healthcare medical centre in Carlisle, Cumbria.

The property is let to a GP practice, a local charity and a pharmacy. The total acquisition cost of the property is £4.1 million.

The MedicX Fund's total property portfolio now comprises 151 properties throughout the United Kingdom and Ireland of which 144 are operational and let, with seven under construction. The annualised rent roll for all properties is now £36.6 million.

Scrip Dividend Declaration

3+year high @89p

Toying with the high of 89.50p

A new high @90p.

Results for the six month period ended 31 March 2016

Financial results
· 0.4 pence per share increase in EPRA NAV for the period to 31 March 2016 to 71.2 pence per share (30 September 2015: 70.8 pence per share)
· Quarterly dividend of 1.4875p per share announced in April 20164; total dividends of 5.95p per share expected for the year or 6.8% dividend yield, an increase of 0.8% (2015: total dividends of 5.9p per share; 7.0% dividend yield)4,7
· EPRA earnings of £6.8 million, equivalent to 1.8p per share (31 March 2015: £7.0 million; 2.0p per share)8
· Dividend and underlying dividend cover of 63% and 71% for the six month period (31 March 2015: 67% and 67%)9
· EPRA NNNAV of £226.3 million equivalent to 60.3p per share (30 September 2015: 228.9 million; 62.7p per share)8

Investments
· New committed investments between 1 October 2015 and 31 March 2016 of £27.4 million
· £573.0 million committed investment in 151 primary healthcare properties, an increase of 2.4% over the period (4 December 2015: £559.5 million, 148 properties)1,10
· Annualised rent roll now £36.7 million with 87% of rents reimbursed by the NHS, an increase of £0.9 million, or 2.5%, since 4 December 20151
· Strong pipeline of approximately £144.0 million of further acquisition opportunities1

Funding
· Market capitalisation £328.5 million1 including £8.5 million net proceeds raised from 10.0 million shares issued since 1 October 2015 at an average issue price of 85.0p per share
· Total drawn debt facilities at 31 March 2016 of £337.4 million with an average all-in fixed rate of debt of 4.45% and an average unexpired term of 14.5 years, close to the average unexpired lease term of the investment properties of 15.7 years and compared with 4.45% and 15.0 years at 30 September 2015
· Net debt of £311.6 million equating to 52.3% adjusted gearing at 31 March 2016 (30 September 2015: £281.4 million; 50.2%)

It all looks good, I think skinny? The sp is never going to impress too much, but hopefully the yield will be maintained.

Agreed Harry and thanks for the pointer! :-)

Since I bough last year, I've seen a gain of @4% plus 4 dividend payments with 1 to come - currently yielding @6.8%.

I've put some in my brother-in-law's SIPP also.

24 May Peel Hunt Hold 86.63 85.00 85.00 Reiterates

A new high @91p.

Quarterly Net Asset Value ("NAV") announcement and business update

A new high @92p.

£20 million revolving loan facility

MedicX Fund Limited (LSE: MXF), the specialist primary care infrastructure investor in modern purpose-built primary healthcare properties in the United Kingdom and Republic of Ireland, is pleased to announce that it has completed the amendment and restatement of its previous £25 million revolving credit facility.

On 15 September 2016, the facility term was extended for a new three year term ending in September 2019. In addition, the amendment also provides for an option, with lender consent, that the immediately committed £20 million revolving credit facility may be extended by a further £10 million to £30 million or additional lenders be added with a view to increasing the facility on existing terms.

Interest is payable on amounts drawn under the amended facility at a rate equal to LIBOR plus a lending margin of 2.00 per cent. per annum. A non-utilisation fee of between 1.10% and 0.75% will be payable on the reduced, £20 million immediately available commitment depending on the level of utilisation.

The Fund has £337 million of other debt facilities with a weighted average fixed cost of 4.45% including undrawn amounts, with an average remaining term of just over 14 years.



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£20 million revolving loan facility

MedicX Fund Limited (LSE: MXF), the specialist primary care infrastructure investor in modern purpose-built primary healthcare properties in the United Kingdom and Republic of Ireland, is pleased to announce that it has completed the amendment and restatement of its previous £25 million revolving credit facility.

On 15 September 2016, the facility term was extended for a new three year term ending in September 2019. In addition, the amendment also provides for an option, with lender consent, that the immediately committed £20 million revolving credit facility may be extended by a further £10 million to £30 million or additional lenders be added with a view to increasing the facility on existing terms.

Interest is payable on amounts drawn under the amended facility at a rate equal to LIBOR plus a lending margin of 2.00 per cent. per annum. A non-utilisation fee of between 1.10% and 0.75% will be payable on the reduced, £20 million immediately available commitment depending on the level of utilisation.

The Fund has £337 million of other debt facilities with a weighted average fixed cost of 4.45% including undrawn amounts, with an average remaining term of just over 14 years.



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Issue of ordinary shares


MedicX Fund Limited announces that earlier today, Friday 23 September 2016, it issued for cash 1,000,000 ordinary shares of no par value in the Company. The ordinary shares were issued under the Company's block listing facility, at a price of 88.25 pence per share.

The net proceeds will be used in further pursuing the investment objectives of the Company.

Total voting rights

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of ordinary shares in the capital of the Company in issue following this transaction will be 386,897,760 (excluding treasury shares) each with one voting right.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

The Company also holds 8,354,422 ordinary shares in treasury and has 22,981,109 ordinary shares of no par value remaining under its block listing facility to be used to satisfy demand that cannot be met through the secondary market.


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