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:
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Link Company Matters Limited - Company
Secretary
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labs_cosec@linkgroup.co.uk
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Ironstone Asset Management - Investment
Adviser
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Simon Farnsworth / David Lewis /
Joanna Waddingham
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via Buchanan below
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Panmure Gordon (UK) Limited -Joint Corporate
Broker
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+44 20 7886 2500
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Alex Collins / Tom
Scrivens
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Jefferies International Limited - Joint Corporate
Broker
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+44 20 7029 8000
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Tom Yeadon / Andrew Morris / Oliver
Nott / Harry
Randall
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G10
Capital Limited - AIFM
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+44 20 7397 5450
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Verity Morgan-Jones / Andrew
Shrimpton
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Buchanan - Financial PR
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+44 20 7466 5000
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Mark Court / Henry Wilson / Verity
Parker
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LifeSciencereit@buchanan.uk.com
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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/.