News - Glenstone REIT

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Tender Offer

Posted on October 27, 2020

Glenstone Property PLC (“Glenstone”) announces its intention to acquire up to 20,125,000 ordinary shares for cash in Alternative Income REIT PLC (“AIRE”), representing up to 25.0 per cent. of AIRE’s issued share capital, by way of a tender offer (the “Tender Offer”) at a price of 59.25 pence per share and by way of market purchases.

Disposal of Properties

Posted on August 24, 2020

Glenstone Property plc (“Glenstone”) are pleased to report the completion of the sale of four West London residential properties of multiple occupation let to The Collective for a total consideration of £25m. This represents a net initial yield of 3.38%.

2020 Annual Report and Financial Statements

Posted on July 7, 2020

The Board of Directors are pleased to publish the Annual Report and Financial Statements for the year ended 31 March 2020.

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Property Income Distribution 2

Posted on June 30, 2020

The Directors of Glenstone Property plc are pleased to report that, at a Board meeting held on 11 June 2020, it was resolved that a second interim Property Income Distribution of 32p per Ordinary Share of 2p each is to be paid on 3 July 2020 in respect of the financial year ended 31 March 2020.

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Managing Director Appointment

Posted on June 1, 2020

At a Board meeting on 27 May 2020 it was confirmed that Ben Green would be appointed as Managing Director with immediate effect.

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Trading Update

Posted on April 9, 2020

Our priority at this time of unprecedented disruption is the health of our staff, tenants and stakeholders. Our strategy to create a fully diversified REIT is proving correct. Over the last few years the company has invested heavily in IT systems which are working well and enable real-time financial forecasting on each our 500 + tenants.

Eric Rowley

Posted on January 10, 2020

Those of you who knew him will be saddened by the news that Eric Rowley died on December 31st 2019. Eric joined the Hiltons shoe company in 1949, and by the time of the Olivers takeover in 1981 he had risen to the position of Administration Director.

Chairman’s Half Year Statement & Financials – September 2019

Posted on December 5, 2019

Since the March 2019 year end the executive team have continued to focus on the rationalisation of the portfolio and maintain rental income through active asset management. Although the economic and political backdrop is challenging the first half year results are very pleasing.

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