Investment Companies Daily: PIN June NAV, CORD Hudson data centre contract, BIOG portfolio co acquired, AIRE Glenstone offer acceptances

Research evidence excerpt

Investment Companies Daily: PIN June NAV, CORD Hudson data centre contract, BIOG portfolio co acquired, AIRE Glenstone offer acceptances

or the treatment of vitiligo and coeliac

disease. FB102 is a first-in-class anti-CD122 antibody which could have applications in

multiple other autoimmune diseases. BIOG says this acquisition is the latest in a series

of successful M&A outcomes across the portfolio over the past 12 months - following

Avidity Biosciences, Cidara Therapeutics, Amicus Therapeutics, Apellis

Pharmaceuticals, Kalvista Pharmaceuticals, Esperion Therapeutics, Nuvalent, Inc. and

AtaiBeckley Inc. - which have contributed meaningfully to BIOG’s NAV performance.

• Alternative Income REIT share (AIRE, Not Covered) - Day 21 Acceptance Level for

Glenstone Offer - On 12/6/26 Glenstone REIT announced a cash offer for shares it does

not already own of 70.0pps for each AIRE. This was raised to a final 71.4pps on 6/7/26

(though this reduces by the 1.4pps dividend to be paid on 14/8/26 to 70pps). Day 21 of

the offer timetable was 27/7/26 and at that point Glenstone had received acceptances in

respect of only 2,000 AIRE shares (<0.01%). Glenstone has received commitments and

indications of support from AIRE shareholders in respect of 6,423,000 shares (7.97%).

Glenstone Group and Directors own a combined 39.3m shares (27.6%). As at 6.00pm

(London time) on 27/7/26, Glenstone says it may count 20,232,461 AIRE Shares,

representing 25.13% of AIRE, towards satisfaction of the Acceptance Condition. This

comprises the AIRE Shares which were held by the Glenstone Group (excluding any

purchases of AIRE Shares which had not settled) and any Valid Acceptances received by

that time. The latest time for acceptances is the Unconditional Date (day 60) which is

4/9/26.