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)

Acquisition of new primary healthcare centre in Ireland

MedicX Fund, (LSE: MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, is pleased to announce that it has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Mullingar, Westmeath. The property is due to be completed in August 2016.

The completed development will be let to a number of GPs and the Health Service Executive (the Irish NHS equivalent). The GP and Health Service Executive leases will be for a term of 15 and 25 years respectively from practical completion. The rent is subject to five-yearly CPI reviews. The total acquisition cost of the property is €10.1 million.

This is the Company's first acquisition in Ireland, and has followed a significant due diligence exercise into the opportunities available in the Irish healthcare property market. It is the belief of Octopus Healthcare Adviser and the Board that Ireland offers good yields for quality properties, let on long leases, generating principally government backed income, making Irish healthcare property opportunities an attractive fit with MedicX Fund's investment objective. The yields available in Ireland are currently higher than are available for similar properties in the UK. It is anticipated that any investment in Ireland will be part funded through additional borrowings drawn in Euros, thereby providing a natural partial hedge against Euro currency movements.

The Company expects to acquire further healthcare properties in Ireland in the future. In the event that such investment opportunities become material in the context of the Company's property portfolio, shareholder approval will be sought to continue making such acquisitions through an amendment to the Company's investment policy setting out a limit as to how much may be invested outside the UK.

The MedicX Fund's total property portfolio comprises 143 properties throughout the United Kingdom and Ireland of which 134 are operational and fully let, with nine under construction. The annualised rent roll for all properties is £34.4 million.


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Notice of Dividend

The Directors have approved a quarterly dividend of 1.475p per Ordinary Share in respect of the period 1 April 2015 to 30 June 2015. The Directors expect, subject to unforeseen circumstances, to pay dividends totalling 5.9p per Ordinary Share in respect of the financial year ending 30 September 2015. The dividend will be paid on 30 September 2015 to ordinary shareholders on the register as at 14 August 2015 (the "Record Date"). The corresponding ex-dividend date will be 13 August 2015.

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 30 September 2015, by participating in the Scrip Dividend Scheme (the "Scheme") previously put in place by the Company on 5 May 2010.

The option to participate will be available to shareholders until 9 September 2015 (the "election date"). Further information on the Scheme, together with a copy of the Scheme Document (which contains the terms and conditions of the Scheme) and relevant mandate form document, is available for inspection at the National Storage Mechanism (http://www.morningstar.co.uk/uk/nsm), or through the Scrip Dividend portal on the Company's website (http://www.medicxfund.com/scrip).

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£50 million loan note extension

Strong selling pressure on the chart. Am hoping to have some cash very soon to buy some more. Not that the range from 80 - 85p is very great, but it's always nice to hit the bottom of the range when buying.

Harry - don't forget they were XD yesterday @1.47p.

Ah... cheers. Thanks for the reminder.

Publication of Circular - Scrip Dividend Scheme

7pc yield – and it’s backed by the state

Acquisition of four primary healthcare centres

Acquisition of four modern primary healthcare centres

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 completed the acquisition of four operational and fully let primary healthcare properties. The transaction is consistent with the Fund's investment strategy of acquiring modern, purpose-built primary healthcare properties and with its objective of achieving rising rental income and capital growth.

The initial purchase price was £11.4 million with a further £0.6 million payable on completion of leases related to space being fitted out at one of the properties. A property at Fakenham was purchased by way of a corporate acquisition whereas the other three properties located in Wymondham, Abergele and Salisbury were property purchases.

The MedicX Fund's total property portfolio now comprises 147 properties throughout the United Kingdom and Ireland of which 141 are operational and fully let, with six under construction. The annualised rent roll for all properties is now £35.5 million.

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On 26 October 2015, the Board of MedicX Fund Limited announced -
(a) that a quarterly dividend of 1.475p per ordinary share ("Ordinary Share") had been approved in respect of the period 1 July 2015 to 30 September 2015, payable on 31 December 2015 to Shareholders on the register as at close of business on 20 November 2015 (the "December 2015 Dividend"); and (b) that Shareholders would be offered the opportunity to take up new Ordinary Shares ("Scrip Shares") instead of cash in respect of that dividend, subject to certain terms and conditions, by participating in the Scrip Dividend Scheme (the "Scheme").

Accordingly, the Board is now pleased to offer qualifying Shareholders the opportunity to receive the December 2015 Dividend in Scrip Shares (the "Scrip Dividend Alternative") instead of in cash.

Results for the year ended 30 September 2015

Key achievements of 2015
Financial results
· 5.4 pence per share increase in EPRA NAV for the year to 70.8 pence per share (30 September 2014: 65.4 pence per share)
· Quarterly dividend of 1.475p per share announced in October 20154; total dividends of 5.9p per share for the year or 7.0% dividend yield (2014: total dividends of 5.8p per share; 6.9% dividend yield)4,5
· EPRA earnings of £13.4 million, an increase of £4.7 million or 54% from prior year, equivalent to 3.7p per share (30 September 2014: £8.7 million; 2.5p per share)6
· Dividend and underlying dividend cover 63.3% and 68.0% respectively (30 September 2014: 53.6% and 67.1%)7
· Discounted cash flow net asset value of £346.3 million equivalent to 94.9p per share (30 September 2014: £331.1 million; 93.4p per share)
· EPRA NNNAV of £228.9 million equivalent to 62.7p per share (30 September 2014: £229.2 million; 64.7p per share)6
Investments
· New committed and approved investments since 1 October 2014 of £41.2 million acquired at a cash yield of 5.78%1
· First investment made in the Republic of Ireland of €10.1 million
· £559.5 million committed investment in 148 primary healthcare properties as at 4 December 2015, an increase of 8.0% (8 December 2014): £518.2 million, 137 properties)1,8
· Annualised rent roll at 4 December 2015 of £35.8 million with 88.3% of rents reimbursed by the NHS, an increase of £3.0 million, or 9.1%, since 8 December 20141
· Strong pipeline of approximately £126.0 million of acquisition opportunities1
Funding
· Market capitalisation £308.5 million1 following share price appreciation and £6.9 million net proceeds raised from 8.3 million shares issued since 1 October 2014 at an average issue price of 83.1p per share1
· New £50 million loan note with an agreed term of thirteen years and five months with an all-in fixed rate of 3.838%
· The maturity on an existing £50 million loan note was extended nine years and three months to mature in December 2028
· Total drawn debt facilities of £338.3 million with an average all-in fixed rate cost of debt of 4.45% and an average unexpired term of 15.0 years, close to average unexpired lease term of the investment properties of 15.8 years and compared with 4.35% and 13.3 years for the prior year
· Net debt of £281.4 million equating to 50.2% adjusted gearing at 30 September 2015 (30 September 2014: £255.2 million; 49.9%)

more....

Sale of ordinary shares out of treasury

Acquisition of new primary healthcare centre

MedicX Fund, (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, by way of forward funding, a new primary healthcare medical centre in Crumlin, a suburb of Dublin. The property is due to be completed in January 2017.

The completed development will be let to the Health Service Executive, a number of GPs and associated medical service providers. The GP and Health Service Executive leases will be for a term of 25 years from practical completion with the majority of rent being subject to five-yearly CPI reviews. The total acquisition cost of the property is €8.0 million.

Following this transaction, MedicX Fund's total property portfolio now comprises 149 properties throughout the United Kingdom and Republic of Ireland of which 143 are operational and fully let, with six under construction. The annualised rent roll for all properties is now £36.2 million.


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Are you holding this skinny or trying to trade it? Seems there is an opportunity to do both (i.e. get divi) but timing a bit tricky.

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.