REG - AEW UK REIT PLC Alternative Inc REIT - No intention to bid statement

Alternative Income REITAnnouncement

21/04/2026 14:00

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RNS Number : 3550B  AEW UK REIT PLC  21 April 2026

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "CODE")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION (EU) NO 596/2014 (WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("MAR"). UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN FOR THE PURPOSES OF MAR.

FOR IMMEDIATE RELEASE

21 April 2026

 

Statement of intention not to make an offer for Alternative Income REIT plc

Further to the announcement on 24 March 2026 by AEW UK REIT plc ("AEWU")
regarding a possible offer for Alternative Income REIT plc ("AIRE"), AEWU
notes that, although indicative heads of terms were reached at an early stage
of the process, it was established during the course of due diligence that
agreement on certain key matters could not be concluded. Accordingly, AEWU
confirms that it does not intend to make a firm offer for AIRE.

 

The Board considers this to be regrettable as, subject to valuation of an
offer based on agreed net asset values and other terms, a combination of the
companies could have served both sets of shareholders' interests.

This is a statement to which Rule 2.8 of the Code applies. Accordingly, AEWU
and any person(s) acting in concert with it will, except with the consent of
the Panel on Takeovers and Mergers (the "Takeover Panel"), be bound by the
restrictions set out in Rule 2.8 of the Code.  Under Note 2 of Rule 2.8 of
the Code, AEWU, and any person(s) acting in concert with it, reserves the
right to set the restrictions in Rule 2.8 of the Code aside in the following
circumstances:

a)   with the agreement of the Board of Directors of AIRE;

b)   following the announcement of a firm intention to make an offer for
AIRE by, or on behalf of, a third party;

c)   following the announcement by AIRE of a Rule 9 waiver proposal (as
described in Note 1 of the Notes on Dispensations from Rule 9 of the Code), or
a reverse takeover (as defined by the Code); or

d)   where the Takeover Panel has determined that there has been a material
change in circumstances.

 

Enquiries:

 AEW UK REIT plc
 Laura Elkin                           laura.elkin@eu.aew.com

                                       Tel: +44 (0) 20 7016 4880
 AEW Investor Relations                investor_relations@eu.aew.com
                                       Tel: +44 (0) 20 3100 2222

 Panmure Liberum

 (Sole Financial Adviser and Broker)

 Investment Banking:

 Darren Vickers

 Ashwin Kohli

 Phoebe Bunce

                                       AEW@cardewgroup.com (mailto:AEW@cardewgroup.com)

 Cardew Group

 Ed Orlebar                            +44 (0) 7738 724 630

 Tania Wild                            +44 (0) 7425 536 903

 

Important information

The individual responsible for releasing this announcement is Megan Freeman of
MUFG Corporate Markets.

 

This announcement is for information purposes only and is not intended to and
does not constitute or form part of any offer or invitation to purchase,
acquire, subscribe for, sell, dispose of or issue, or any solicitation to
purchase, acquire, subscribe for, sell, dispose of or issue any securities in
Alternative Income REIT plc or AEWU in any jurisdiction.

This announcement has been prepared in accordance with English law and the
Code, and information disclosed may not be the same as that which would have
been prepared in accordance with laws outside of the United Kingdom. The
distribution of this announcement in jurisdictions outside the United Kingdom
may be restricted by law and therefore persons into whose possession this
announcement comes should inform themselves about, and observe, such
restrictions. Any failure to comply with the restrictions may constitute a
violation of the securities law of any such jurisdiction.

Disclaimer

Panmure Liberum Limited ("Panmure Liberum"), who are authorised and regulated
by the Financial Conduct Authority (the "FCA") in the United Kingdom, are
acting solely for the Company and no-one else in connection with the
transactions and arrangements described in this announcement and will not
regard any other person (whether or not a recipient of this announcement) as a
client in relation to the transactions and arrangements described in this
announcement. Neither Panmure Liberum nor any of their respective partners,
directors, officers, employees, advisers, consultants, affiliates or agents
are responsible to anyone other than the Company for providing the protections
afforded to clients of Panmure Liberum or for providing advice in connection
with the contents of this announcement or for any other matters referred to
herein.

No investment recommendation

This announcement is not intended to be and does not constitute or contain any
investment recommendation as defined by Regulation (EU) No 596/2014 (as it
forms part of the domestic law in the United Kingdom by virtue of the European
Union (Withdrawal) Act 2018). No information in this announcement should be
construed as recommending or suggesting an investment strategy. Nothing in
this announcement or in any related materials is a statement of or indicates
or implies any specific or probable value outcome in any particular
circumstance.

Publication on a website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be
made available, subject to certain restrictions relating to persons resident
in restricted jurisdictions, on the Company's website (www.aewukreit.com) no
later than 12 noon (London time) on the first business day following the date
of this announcement. The content of the website referred to in this
announcement is not incorporated into and does not form part of this
announcement.

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