REG - Life Science REIT - Purchase of Ordinary Shares by Investment Adviser

Life Science ReitAnnouncement

07/05/2024 07:15

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RNS Number : 3371N  Life Science REIT PLC  07 May 2024

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
 labs_cosec@linkgroup.co.uk (mailto:labs_cosec@linkgroup.co.uk)

 Ironstone Asset Management - Investment Adviser
 Simon Farnsworth / David Lewis / Joanna Waddingham                        via Buchanan below

 Panmure Gordon (UK) Limited -Joint Corporate Broker                       +44 20 7886 2500
 Alex Collins / Tom Scrivens

 Jefferies International Limited - Joint Corporate Broker                  +44 20 7029 8000
 Tom Yeadon / Andrew Morris / Oliver Nott / Harry Randall

 G10 Capital Limited - AIFM                                                +44 20 7397 5450
 Verity Morgan-Jones / Andrew Shrimpton

 Buchanan - Financial PR                                                   +44 20 7466 5000
 Mark Court / Henry Wilson / Verity Parker
 LifeSciencereit@buchanan.uk.com (mailto:LifeSciencereit@buchanan.uk.com)

 

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
(https://lifesciencereit.co.uk/) . To sign up for email alerts, please visit
https://lifesciencereit.co.uk/investors/
(https://lifesciencereit.co.uk/investors/) .

 

 

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