All directors are considered independent. Mr David Staples was appointed as Non-Executive Director on 1 October 2008 and took over as Non-Executive Chairman on 1 November 2008. All other directors were appointed on 25 August 2006. No director is under contract of service with the Company. Details of directors' remuneration are disclosed in note three to the financial statements. All of the Directors have beneficial interest in MedicX Fund shares; for more information please click here.

David Staples - Non-Executive Chairman

David Staples (aged 54) is a Chartered Accountant and a Chartered Tax Adviser. He also holds the Institute of Directors' Diploma in Company Direction. For thirteen years until 2003, Mr. Staples was a partner with PwC and led the tax practice in the South East of England advising several well known family and owner-managed businesses. Mr. Staples is currently a non-executive director of four other listed companies and chairs their audit committees: Gottex Fund Management Holdings Limited, Signet Global Fixed Income Strategies Limited, Aberdeen Private Equity Fund Limited and Henderson Far East Income Limited. His other appointments include non-executive directorships of certain private equity funds of Apax Partners and HSBC Private Bank (C.I.) Limited. Mr. Staples is resident in Guernsey where he is Chairman of the Chartered Institute of Taxation.

Mr. Staples was appointed to the Board in October 2008 and has served as Chairman since that appointment.

Christopher Bennett - Non-Executive Director

Christopher Bennett (aged 46) is a member of the Royal Institution of Chartered Surveyors, and also has an MBA from Cranfield University and a BA in Law & Economics from Durham University. He is a Jersey resident and is Managing Director of DCG Real Estate, a real estate administration business which he co-founded in 2005. He was previously with Royal Bank of Scotland International in Jersey where he spent five years in real estate finance. Prior to working for Royal Bank of Scotland International he worked for Mutual Finance (a property finance advisory business) for 18 months, was a self employed property consultant for six years and spent three years in the residential agency sector. He is a director of Alpha Pyrenees Trust Limited, a property investment company which is listed on the LSE Main Market. His property experience includes property management, development, appraisal, planning and agency in addition to finance, in both commercial and residential markets.

Mr. Bennett was appointed to the Board in September 2006 and is the Audit Committee Chairman.

Shelagh Mason - Non-Executive Director

Shelagh Mason (aged 52) is an English property solicitor with 30 years' experience in commercial property. She is currently a Partner in Spicer and Partners Guernsey LLP specialising in English commercial property. Her last position in the United Kingdom was as a senior partner of Edge & Ellison (now part of Hammonds). For two years until 2001 she was Chief Executive of a property development company active throughout the United Kingdom and the Channel Islands. Mrs. Mason is a member of the board of directors of Standard Life Investment Property Income Trust, a property fund listed on both the London Stock Exchange and the Channel Islands Stock Exchange. She is also a non executive director of PFB Data Centre Fund, and also of G.Res:1 Limited, a residential property investment company and also holds other non-executive positions. She is a past Chairman of the Guernsey Branch of the Institute of Directors and a member of the Chamber of Commerce and the Guernsey International Legal Association.

Mrs. Mason was appointed to the Board in September 2006.

John Hearle - Non-Executive Director

John Hearle (aged 58) is a fellow of the Royal Institution of Chartered Surveyors and a Member of the Chartered Institute of Arbitrators. He heads the Healthcare Division of Aitchison Raffety Limited based at St Albans but operating throughout the country. Mr. Hearle is also Group Chairman of Aitchison Raffety Limited and its subsidiaries with offices from London to Birmingham. After working for the District Valuers' Office, he joined Aitchisons in the late 1970s followed by TSB Property Services and then Aitchison Raffety. Mr. Hearle has undertaken various roles and responsibilities including for the Healthcare and the Residential Surveyors' groups (including responsibility for all TSB Property Services' surveyors) and was also responsible for its commercial estate agency and surveying operation. Mr. Hearle is recognised as an expert and an arbitrator by the President of the Royal Institution of Chartered Surveyors and regularly receives appointments for such roles. In addition, in respect of healthcare, he acts as Chairman of the RICS Working Party, and, on occasions, has undertaken a consultancy role to the British Medical Association. He was one of the founding members of the Primary Care Premises Forum and is now their joint Chairman.

Mr. Hearle was appointed to the Board in September 2006.

Keith Maddin - Chairman

Keith Maddin co-founded the MedicX Group in 2004 and is a Director and chairs the board of all MedicX Group companies. He is a Master's graduate from Edinburgh University and a Fellow Chartered Management Accountant. Keith spent 14 years at BP plc in the UK and overseas (Belgium and Cyprus) in a range of operational, corporate (UK, European and global), financial, strategy, mergers and acquisitions, asset and general management roles. He played a significant role in the creation and successful implementation of BP's retail alliance with Bovis Lend Lease. He joined Cabot Square Capital LLP's private equity team in 1998 where he is a partner and specialises in building asset based businesses. He was a Director of Road Chef Limited from 1998 to 2003, one of the UK's largest motorway service area operators and owners. He is currently also a Director of all group companies within the Signature Senior Lifestyle Holdings Limited Group, Betterstore Holdings Limited, Aleltho Holdings Limited and Equitix Holdings Limited Group.

Mike Adams - Chief Executive Officer

Mike Adams is a member of the Royal Institution of Chartered Surveyors with over 18 years experience in the UK commercial property market. He commenced his career in private practice with St Quintin (now part of CB Richard Ellis) before moving to work for KPMG Property Consulting and Ernst & Young's real estate group. He joined MEPC plc, a leading UK property development and investment company, in 1999 and left to become a Director of Stonemartin plc, responsible for its property portfolio, which was admitted to trading on AIM in August 2001. Whilst at Stonemartin he oversaw the disposal of Stonemartin's own £60 million investment and development portfolio and the acquisition and ongoing management of over 400,000 sq. ft. of space valued at over £100 million on behalf of Morley Fund Management. He joined the MedicX Group early in 2005 and the investment team reports directly to him with the development business reporting via the MedicX Group's regional structure. He is currently a Director of all MedicX Group companies.

Mark Osmond - Chief Financial Officer

Mark Osmond is a member of the Institute of Chartered Accountants in England and Wales and has over 15 years' experience in commercial and corporate finance. He has an honours degree in Mathematics and trained as a chartered accountant with KPMG. He joined Del Monte Foods International in 1992 where he rose to Group Finance Manager as well as being a member of the international management team with responsibility for corporate finance. In 2001 he joined the Berkeley Group (a FTSE-250 house builder) as a divisional Financial Director and in 2004 he joined the MedicX Group as Group Finance Director. He is a Director and Company Secretary of all MedicX Group companies.