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Home  »  Front page news  »  Shareholders approve MedicX’s plant to become a REIT

Shareholders approve MedicX’s plant to become a REIT

13
2017
September

Shareholders approve MedicX’s plant to become a REIT – the board of MedicX Fund Limited has announced that at the Extraordinary General Meeting of its Shareholders held at 4.30 p.m. on 12 September 2017, the special resolution proposing that the company becomes resident in the United Kingdom for tax purposes and enters the UK REIT regime, was duly passed.  The details of the resolution were as follows:

It was resolved that the proposals (as defined in MedicX’s circular to shareholders dated 18 August 2017) be approved and that with effect from 00.01a.m. on 29 September 2017, the new articles of incorporation of the company produced to the meeting containing amendments required for the purposes of the company’s entry into the UK REIT regime be adopted.

In Favour – 178,223,806 (99.92% of those voting)

Against – 138,078 (0.08% of those voting)

Withheld – Nil

The number of shares that could have been voted was 428,530,249.

David Staples, Chairman of MedicX Fund, commented: “We are delighted that the Fund’s shareholders have strongly supported the Company’s proposal to convert to a UK REIT. Entry into the UK REIT regime will benefit our shareholders by exempting future profits from the Company’s Qualifying Property Rental Business from UK corporation tax. REIT status is the next step in the Company’s growth journey which will also potentially widen the appeal to new investors.”

MXF : Shareholders approve MedicX’s plant to become a REIT

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