UK's Life Science REIT rises on strategic review announcement

Life Science Reit

14/03/2025 09:01

** Shares of Life Science REIT LABS.L up 8% at 41.90p

** LABS announces strategic review; considering sale of portfolio or entire business in a formal sales process

** Adds, currently not engaged in any discussions, nor received any proposals from potential buyers interested in acquiring issued and future shares of co

** "Leasing activity, occupancy levels and completion of development assets have all been slow and low and never delivered on time or on budget," say analysts at Jefferies in a research note

** Co announces suspension of any future dividends until strategic review has been concluded

** Also says, negotiations ongoing with Ironstone Asset Management for a significant reduction in fees payable under Investment Advisory Agreement

** LABS board anticipates being able to announce revised fees shortly

** As of last close, stock up ~2.11% YTD

 (Reporting by Ankita Bora in Bengaluru)

 ((Ankita.Bora@thomsonreuters.com))