7th May 2024 07:00
7 May 2024
LEI 213800RG7JNX7K8F7525
Life Science REIT plc
("Life Science REIT" or the "Company")
Purchase of Ordinary Shares by Investment Adviser
Investment Adviser acquires a further 261,248 ordinary shares in the Company
The Board of Life Science REIT (LSE: LABS), the real estate investment trust focused on UK life science properties, is pleased to announce that, in accordance with the terms of the Investment Advisory Agreement ("IAA") between the Company, G10 Capital Limited and Ironstone Asset Management Limited (the "Investment Adviser"), the Company was notified on 3 May 2024 that the Investment Adviser has acquired 261,248 ordinary shares in the share capital of the Company ("Ordinary Shares") at a weighted average price of 39.8 pence per share for a total cost of £104,499.96.
The Ordinary Shares have been purchased pursuant to the IAA, details of which were disclosed in the prospectus published by the Company on 14 November 2022.
Following the purchase, the Investment Adviser has an interest in 1,067,748 Ordinary Shares, representing 0.31% of the Company's issued Ordinary Shares.
In addition to the Investment Adviser purchase, the Ironstone team have themselves bought shares in the Company taking the total ownership by the Investment Adviser and its principals to 4.6 million shares, demonstrating our strong commitment to the Company's strategy and our belief that this will deliver long term value for shareholders.
Simon Farnsworth, Managing Director of Ironstone Asset Management, the Company's Investment Adviser, said:
"We are pleased to demonstrate our ongoing commitment to the Company's strategy with this further share purchase providing us with increased exposure to the Company's high quality portfolio which we believe offers exceptional value."
Enquiries:
Link Company Matters Limited - Company Secretary |
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Ironstone Asset Management - Investment Adviser |
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Simon Farnsworth / David Lewis / Joanna Waddingham | via Buchanan below |
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Panmure Gordon (UK) Limited -Joint Corporate Broker | +44 20 7886 2500 |
Alex Collins / Tom Scrivens | |
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Jefferies International Limited - Joint Corporate Broker | +44 20 7029 8000 |
Tom Yeadon / Andrew Morris / Oliver Nott / Harry Randall |
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G10 Capital Limited - AIFM | +44 20 7397 5450 |
Verity Morgan-Jones / Andrew Shrimpton |
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Buchanan - Financial PR | +44 20 7466 5000 |
Mark Court / Henry Wilson / Verity Parker | |
Notes to editors
Life Science REIT plc is a specialist property business focused on the UK's growing life science sector. The Company's portfolio of assets is located across the "Golden Triangle" of research and development hubs in Oxford, Cambridge and London's Knowledge Quarter and its strategic vision is to become the property provider of choice for life science companies in the UK.
Life Science REIT is addressing the acute demand-supply imbalance for laboratory space in the "Golden Triangle", which is characterised by low vacancy rates and prime rental increases. The UK life science sector itself is benefiting from a buoyant early-stage funding environment, driving demand for laboratory space.
The Company's diverse portfolio of assets ranges from a 20-acre science park currently under development through to fully let buildings, with an important part of the Company's strategy being the conversion of existing properties to laboratory space.
The Company's investment policy is focused on capital growth whilst also providing a growing level of income.
Life Science REIT trades on the Main Market of the London Stock Exchange under the ticker LABS.
Further information is available at https://lifesciencereit.co.uk. To sign up for email alerts, please visit https://lifesciencereit.co.uk/investors/.
Related Shares:
Life Science