Shareholder

On 21 January 2021 Urban&Civic delisted and was acquired by the Wellcome Trust as an investment within its investment portfolio.

Why have they been important?

The aim of Wellcome Trust's investment portolio is to maximise returns over the long term to ensure that Wellcome Trust continues to have sustainable resources for its charitable activities. In addition to a sound and sustainable business model, Wellcome's investment strategy targets companies that take their environmental, social and governance responsibilities seriously.

What have they wanted from us?
  • NAV Growth
  • Profit Growth (leading to increased cash flow over time
  • ESG leadership
  • Transparency 
  • Timely and accurate reporting
  • Clear strategy and execution
Engagement with our shareholder 

Following the acquisition, there has been extensive dialogue throughout  the year with regular Board meetings, and executive and governance discussions together with a number of site tours. Peter Pereira Gray, who is CEO of Wellcome's Investment Division, is now the Chairman of Urban&Civic and Lisha Patel, Managing Director of Wellcome Trust's Investment Division, is a Board member.

Outcomes

Wellcome Trust has full visibility of our business and is strongly supportive of our strategic objectives and our purpose, vision and values. In addition, Wellcome Trust is transferring a number of land assets from other parts of its investment portfolio to Urban&Civic for us to either promote or manage. We are also assuming responsibility  for the delivery and expansion of the Genome Campus at Hinxton.