BOSTON, MA, March 24, 2016 – Tekla Life Sciences Investors (the “Fund”) announced today that its Board of Trustees authorized a renewal of its share repurchase program. The current share repurchase program allows the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 10, 2016. The renewal will allow the Fund to purchase in the open market up to 12% of its outstanding common shares for a one year period ending July 10, 2017. The Board authorized the share repurchase program as a result of its periodic review of the options available to enhance shareholder value and potentially reduce the discount between the market price of the Fund’s shares and the net asset value per share. The share repurchase program is intended to increase the Fund’s net asset value per share and could also have the benefit of providing additional liquidity in the trading of shares.
The amount and timing of repurchases will be at the discretion of Tekla Capital Management LLC, the investment adviser to the Fund. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts or on any specific date. The Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. There is no assurance that the market price of the Fund’s shares, either absolute or relative to net asset value, will increase as a result of any share repurchases. The Board will monitor the effect of the share repurchase program on the Fund’s market prices and net asset value per share, expense ratio and investment strategy over time.
Tekla Life Sciences Investors (NYSE: HQL) is a closed-end fund that invests in companies in the life sciences industry.
Tekla Capital Management LLC, the Fund’s investment adviser, is a Boston, MA based healthcare-focused investment manager with approximately $3.1 billion of net assets under management as of December 31, 2015. Tekla also serves as investment adviser to Tekla Healthcare Investors (NYSE: HQH), Tekla Healthcare Opportunities Fund (NYSE: THQ) and Tekla World Healthcare Fund (NYSE: THW), closed-end funds that invest in companies in the healthcare and life sciences industries. Information regarding the Funds and Tekla Capital Management LLC can be found at www.teklacap.com.
Destra Capital Investments, the Fund’s marketing and investor support services agent, is a Chicago, IL based investment management firm. Please contact Destra Capital Investments at HQL@destracapital.com or call (877) 855-3434 if you have any questions regarding HQL.