Glenstone Property PLC Results of Tender Offer (0009G)

TIDMAIRE

RNS Number : 0009G

Glenstone Property PLC

20 November 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES, OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION

FOR IMMEDIATE RELEASE

20 November 2020

RESULTS OF TENDER OFFER

In respect of the Tender Offer by Glenstone Property PLC ("Glenstone") to acquire ordinary shares in Alternative Income REIT PLC ("AIRE"), the Directors of Glenstone are pleased to announce that a total of 11,855,461 AIRE Shares, representing 14.73% of AIRE's issued share capital, were tendered under the Tender Offer as at the closing date of 1.00 p.m. on 19 November 2020. Glenstone, having waived the Minimum Condition, will now acquire all shares which have been tendered.

As provided for in the Tender Offer Document, all AIRE shareholders who have submitted valid tenders will receive 58.0 pence per AIRE Share from Glenstone in addition to the interim dividend of 1.25 pence which has been declared by AIRE since the announcement of the Tender Offer by Glenstone based on the record date for such dividend of 13 November 2020.

Payment of the consideration due to AIRE Shareholders is expected to be despatched (by cheque or by a CREST payment, as appropriate) as soon as possible but, in any event, no later than 1 December 2020.

Enquiries:

 
 Glenstone's Broker 
 Ravenscroft (CI) Limited 
  Jake Le Marchant                    Tel: 01481 742199 
 Glenstone Property PLC 
  Andrew Pickering - CFO              Tel: 020 8392 1726 
  Rupert Hill (Harrier Partners)      Tel: 07770 755078 
  Glenn Cooper (Harrier Partners)     Tel: 07831 833711

Terms defined in the Tender Offer Document dated 3 November 2020 have the same meaning when used in this announcement.

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END

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