Primary Health Regulatory News (PHP)

Primary Health Properties PLC

Allotment and Issue of Ordinary Shares following Receipt of Conversion Notice

Primary Health Properties PLC ("PHP" or the "Company") announces that is has made application for 1,143,926 new ordinary shares of 12.5p each ("New Shares") arising on conversion of £1,100,000 nominal of the £82,500,000 4.25% Guaranteed Convertible Bonds 2019 (the "Convertible Bonds") issued by the Company's wholly owned subsidiary PHP Finance (Jersey) Limited ("PHP Jersey") (ISIN: XS1067950615) and which were guaranteed by the Company. Following cancellation of the bonds converted there are now £700,000 nominal of Convertible Bonds outstanding.

Following the issue of the New Shares, which is anticipated on 26 March 2019, the Company will have 1,134,345,804 ordinary shares of 12.5p each in issue, each share carrying the right to one vote.

The above figure of 1,134,345,804 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

Paul Wright,

for Nexus Management Services Limited, Company Secretary

Telephone: +44 (0) 20 7451 7057

LEI: 213800Y5CJHXOATK7X11