IN BRIEF: Alternative Income REIT delisting due as Glenstone nears 80%
Alternative Income REIT PLC - real estate investment trust focused on specialised alternative property sectors - Takeover offer from Glenstone REIT PLC reaches 79% acceptances, including Glenstone's own holding. As a result of passing the 75% threshold, Glenstone declares the offer unconditional. It now will ask Alternative Income to apply for delisting from the London Stock Exchange. Once acceptances exceed 90%, Glenstone says it will exercise its rights to squeeze out remaining shareholders. If the offer falls short of that threshold, it says it will re-list Alternative Income with the International Stock Exchange Authority Ltd, TISE. Glenstone's offer for Alternative Income is 70.0 pence per share. The board of Alternative Income initially rejected the hostile approach, arguing that it is below its last published net asset value of 84.4p per share, but recommended it to shareholders once acceptances exceeded 50% earlier this month. Read More