The Glenstone Board is pleased to announce the terms of an all-cash offer by Glenstone to acquire the entire issued and to be issued ordinary share capital of AIRE that the Glenstone Group does not already hold (the “Acquisition“).

·              As at close of business on 11 June 2026, being the Latest Practicable Date, the Glenstone Group held in aggregate 19,325,461 AIRE Shares, representing approximately 24.00 per cent. of AIRE’s issued ordinary share capital. These figures do not include the 1,900,000 AIRE Shares, representing approximately 2.36 per cent. of AIRE’s issued ordinary share capital, held by Adam Smith, a director of Glenstone and AIRE who has provided an irrevocable undertaking to (amongst other things) accept the Takeover Offer.

·              It is intended that the Acquisition will be implemented by means of a Takeover Offer under the applicable provisions of the Code and the Companies Act 2006 with a 50 per cent. threshold for the Acceptance Condition.

·              Under the terms of the Acquisition, which will provide liquidity for AIRE Shareholders, each AIRE Shareholder will be entitled to receive:

for each AIRE Share: 70.0 pence in cash (the “Offer Price”)

Keep waiting and watching.