Alternative Income REIT: Glenstone's offer reaches 49.89% as the deadline is extended

Glenstone issued an update on its offer for Alternative Income REIT on 7 September 2026.

Acceptance position

At 6pm on 4 September, Glenstone could count 40,167,638 shares, or approximately 49.89%, toward the 50% acceptance condition.

The offer remains open until 1pm on 11 September, following the one-week timetable extension announced on 4 September. The disclosed total is still below the required threshold.

Understanding the consideration

The increased offer was expressed as 71.4p per share. Following AIRE's 1.4p dividend, qualifying holders can retain that dividend and receive 70p cash under the offer, if they accept and the offer becomes unconditional.

The dividend adjustment explains the difference between the headline offer and current cash consideration.

What to watch

This is the bidder's announcement, rather than confirmation that the acquisition has completed. The next material event is whether the acceptance condition and other requirements are satisfied by the revised deadline.

Shareholders should use the formal offer documents for eligibility and procedural terms; today's percentage does not itself make payment unconditional.

Source: Company announcement, 7 September 2026.