Life Science REIT PLC Purchase of Ordinary Shares by Investment Adviser

RNS Number : 3376M

Life Science REIT PLC

15 November 2024

 

15 November 2024

LEI 213800RG7JNX7K8F7525

Life Science REIT plc

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

 

Purchase of Ordinary Shares by Investment Adviser

 

Ironstone Asset Management acquires a further 532,252 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, announces that, in accordance with the terms of the Investment Advisory Agreement ("IAA") between the Company and Ironstone Asset Management Limited, (the "Investment Adviser"), it has been notified that on 13 November 2024, the Investment Adviser has acquired 532,252 ordinary shares in the share capital of the company ("Ordinary Shares") at a weighted average price of 42.51 pence per share for a total cost of £227,439.34.

 

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 1.6 million Ordinary Shares, representing 0.46% of the Company's issued Ordinary Shares.

 

Along with this Investment Adviser purchase, Ironstone Asset Management Limited individuals also own shares in the Company, taking the total share ownership of the Investment Adviser and its principals to 5.1 million.

 

Enquiries:

Ironstone Asset Management - Investment Adviser	[phone]
Simon Farnsworth, Managing Director [e-mail]
Joanna Waddingham, Head of Investor Relations and Corporate Affairs
[e-mail]
Link Company Matters Limited - Company Secretary
[e-mail]
Panmure Liberum Limited - Joint Corporate Broker	[phone]
Alex Collins / Tom Scrivens
Jefferies International Limited - Joint Corporate Broker	[phone]
Tom Yeadon / Oliver Nott
G10 Capital Limited - AIFM	[phone]
Maria Baldwin
FTI Consulting - Financial PR	[phone]
Dido Laurimore / Richard Gotla / Oliver Parsons
[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 underpinned by strong structural drivers, including an ageing population and a supportive regulatory environment as well as the growing interdependence with technology, which is expanding the life science spectrum, driving strong 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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