Independent shareholder support for the offer has accelerated in recent days, including valid acceptances from institutional investors such as Hawksmoor Investment Management. Glenstone now owns 29.9% of AIRE’s issued shareholding and has confirmed it will not buy further shares in the market before the offer’s unconditional date, in line with the takeover code.

Retail investors holding AIRE shares through AJ Bell and Interactive Investor were told to register their acceptance by 12 noon on 1 September to meet the platforms’ internal deadlines. Hargreaves Lansdown clients have until 12 noon on 3 September, while all other shareholders have until 4 September, the offer’s unconditional date.

Glenstone said: “AIRE Shareholders who wish to accept Glenstone’s Offer of 70 pence in cash per AIRE Share must act this week, in order that the acceptance condition may be satisfied. Clients of AJ Bell and Interactive Investor must act TODAY in order to accept the offer prior to the unconditional date of 4 September 2026.”

It added: “Shareholders who do not register their acceptance instructions in time cannot expect to receive the cash available for their AIRE shares under the offer.”

The takeover has already passed the halfway mark of its timetable. As of 28 August, valid acceptances had been received for just over 8 million AIRE shares, representing 10.02% of the company’s issued share capital. A further 6.4 million shares, around 8% of AIRE, are backed by shareholders who have indicated support for the deal but have not yet formally accepted.

Two blocks of shares are already locked in. Adam Smith, who gave Glenstone a binding commitment to accept covering 1.9 million shares, has now formally done so in full. Shareholders covering 4.5 million shares under a non-binding letter of intent with Hawksmoor have also formally accepted.

Combined with Glenstone’s own stake, that leaves the firm able to count around 36% of AIRE’s shares towards the 50%-plus threshold it needs to declare the offer unconditional. A large proportion of AIRE shares sit on retail dealing platforms, however, meaning whether Glenstone has secured majority support won’t be clear until after 1pm on 4 September.