Mandatory Unconditional Cash Offer for Alpha Integrated Real Estate Investment Trust Extended – Mindarie Investment Pte. Ltd. Acquires Majority Stake 1234

Mindarie Investment Pte. Ltd. Declares Mandatory Cash Offer for Alpha Integrated Real Estate Investment Trust Unconditional

Key Points and Investor Highlights

Offer Declared Unconditional: Mindarie Investment Pte. Ltd. (“Offeror”), through United Overseas Bank Limited (“Financial Adviser”), has declared its mandatory conditional cash offer for Alpha Integrated Real Estate Investment Trust (“AI-REIT”) unconditional in all respects.
Minimum Acceptance Condition Met: As of 6.00 p.m. on 9 February 2026, the Offeror and parties acting in concert have received valid acceptances and hold an aggregate of 576,081,601 Units, representing approximately 51.20% of the total issued Units. This exceeds the crucial 50% threshold required under the Singapore Code on Take-overs and Mergers for the offer to be unconditional.
Extension of Closing Date: The offer closing date has been extended from 10 February 2026 to 24 February 2026, allowing unitholders additional time to participate in the offer.
Payment Timeline: Unitholders who have already validly accepted the offer will receive payment within seven business days from the date of the announcement.
Procedures for Acceptance: Unitholders who have not yet accepted can still do so by submitting relevant forms and documents before the extended closing date. Special instructions are provided for CPFIS and SRS investors.
Responsibility Statement: The directors of the Offeror affirm the accuracy and fairness of the facts and opinions stated in the announcement.
Forward-Looking Statements: The announcement contains forward-looking statements subject to risks and uncertainties, cautioning unitholders not to place undue reliance on such statements.

Detailed Analysis

Background

United Overseas Bank Limited, acting for Mindarie Investment Pte. Ltd., initiated a mandatory conditional cash offer to acquire all outstanding units in AI-REIT not already owned or controlled by the Offeror or its concert parties. This action follows the requirements of Rule 14 of the Singapore Code on Take-overs and Mergers.

Acceptance Levels and Resultant Holdings

Total Acceptances: As of 9 February 2026, the Offeror has received valid acceptances for 111,773,032 Units, representing approximately 9.93% of the total issued Units.
Pre-Offer Holdings: The Offeror and concert parties held 464,308,569 Units (41.27%) as at the offer announcement date.
Combined Holdings: Including acceptances, the Offeror and concert parties now control 576,081,601 Units, crossing the 50% threshold for voting rights and triggering the unconditional status of the offer.

Offer Declared Unconditional

The minimum acceptance condition stipulated under the Code has been satisfied. The Offeror and its concert parties now hold more than 50% of the total voting rights in AI-REIT. The offer is now unconditional in all respects, meaning that all remaining unitholders can participate in the offer with certainty of completion.

Extension of Closing Date

In compliance with Rule 22.6 of the Code, the offer period has been extended. Investors now have until 5.30 p.m. (Singapore time) on 24 February 2026 to accept the offer. This extension could be price-sensitive as it provides a longer window for unitholders to respond and may affect the trading dynamics of AI-REIT units.

Instructions for Unitholders

Already Accepted: No further action is needed. Payment will be made within seven business days.
Wish to Accept: Complete and return the relevant acceptance forms and documents before the new closing date. Electronic submissions are available for CDP account holders via SGX’s Investor Portal.
CPFIS and SRS Investors: Acceptance procedures will be communicated by respective agent banks.

Potential Price-Sensitive Information

The crossing of the 50% ownership threshold and declaration of the offer as unconditional is a major development that can significantly impact the trading price of AI-REIT units. The extension of the closing date gives remaining unitholders more time to assess their options, potentially affecting supply and demand in the market. Investors should monitor trading activity and announcements closely during this period.

Responsibility and Forward-Looking Statements

The directors of Mindarie Investment Pte. Ltd. accept full responsibility for the accuracy of the announcement. Investors are cautioned that forward-looking statements are subject to risks and uncertainties, and actual outcomes may differ materially from projections.

Contact Information

For any queries regarding the offer, investors can contact UOB at +65 6539 7066 during office hours.

Disclaimer

This article is for informational purposes only and does not constitute financial advice, an offer, or a solicitation to buy or sell any securities. Investors should conduct their own due diligence and consult with professional advisors before making any investment decisions. The information presented is based on publicly available documents and may be subject to change. The author and publisher accept no liability for actions taken based on this article.