Purchase of Ordinary Shares by Investment Adviser

RNS Number : 2934X

Life Science REIT PLC

25 April 2023

 

25 April 2023

LEI 2 13800RG7JNX7K8F7525

Life Science REIT plc

("Life Science REIT" or the "Company")

Purchase of Ordinary Shares by Investment Adviser

Ironstone Asset Management acquire 600,000 ordinary shares in Life Science REIT plc

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 24 April 2023 that the Investment Adviser has acquired 600,000 ordinary shares in the share capital of the Company ("Ordinary Shares") at a weighted average price of 66.18 pence per share for a total cost of £399,207.02.

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 600,000 Ordinary Shares, representing 0.17% of the Company's issued Ordinary Shares.

Simon Farnsworth, Managing Director of Ironstone Asset Management Ltd, the Company's Investment Adviser, said:

"The acquisition of Life Science REIT shares by Ironstone Asset Management not only fulfils an obligation from the Company's prospectus but also demonstrates our ongoing commitment to the Company's strategy and our confidence in the prospects of its portfolio."

Enquiries:

Link Company Matters Limited - Company Secretary
[e-mail]
Ironstone Asset Management - Investment Adviser
Simon Farnsworth / David Lewis / Joanna Waddingham	via Buchanan below
Panmure Gordon (UK) Limited -Joint Corporate Broker	[phone]
Alex Collins / Tom Scrivens
Jefferies International Limited - Joint Corporate Broker	[phone]
Tom Yeadon / Andrew Morris / Oliver Nott / Harry Randall
G10 Capital Limited - AIFM	[phone]
Verity Morgan-Jones / Paul Cowland
Buchanan - Financial PR	[phone]
Mark Court / Henry Wilson / Verity Parker
[e-mail]

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/ .

 

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