REG - Glenstone Property Alternative Inc REIT - Results of Tender Offer

Alternative Income REITAnnouncement

20/11/2020 08:00

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
Rupert Hill (Harrier Partners)
Glenn Cooper (Harrier Partners)
 


 
Tel: 020 8392 1726
Tel:  07770 755078
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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