Glenstone REIT PLC has increased its cash offer for Alternative Income REIT PLC to 70 pence per share, following a 1.4 pence dividend paid by AIRE on August 15.
The revised offer, down from an initial 71.4 pence per share, accounts for the dividend declared on July 31. Shareholders who held shares on that qualifying date retain the full dividend under the offer terms. Acceptance instructions are now being processed through share-dealing platforms including Hargreaves Lansdown, Interactive Investor, and AJ Bell.
Glenstone has set a final deadline of September 4, 2026, at 1:00 p.m. for acceptances, with platforms typically aggregating client instructions near the closing time. The offer operates under the City Code on Takeovers and Mergers, requiring individual shareholders to submit acceptance instructions through their brokers.
AEW UK REIT PLC, which announced a possible all-share offer for AIRE on July 16, retains a competing bid process. The firm must either announce a firm offer or withdraw its bid by the week ending August 29, 2026. Glenstone has reserved the right to revise its financial terms if a third party announces a firm intention to make an offer for AIRE.
Daily acceptance figures reflect submissions received by the receiving agent, as platforms often consolidate client acceptances late in the offer timetable.
