AIREA Regulatory News (AIEA)

AIREA plc ('the Company')

Result of Tender Offer

The Company announces the result of the Tender Offer set out in the circular to shareholders dated 3 December 2014 (the "Circular"), which closed on 7 January 2015. A total of 3,291,779 Ordinary Shares were validly tendered under the Tender Offer.

As set out in the Circular, the Ordinary Shares in respect of which tenders have been accepted will be purchased by N+1 Singer pursuant to the Tender Offer and the Company will repurchase such tendered Ordinary Shares from N+1 Singer in accordance with the terms of the Repurchase Agreement entered into between the Company and N+1 Singer on 2 December 2014. 3,291,779 Ordinary Shares will be purchased at a price per Ordinary Share of 12.25 pence, for a total of approximately £403,000.

Payment of the consideration due to Shareholders whose tender was accepted by N+1 Singer is expected to be despatched (by cheque or by a CREST payment, as appropriate) by no later than 20 January 2015. Balance certificates will be despatched in respect of non-tendered Ordinary Shares by no later than 20 January 2015.

The repurchase of Ordinary Shares by the Company from N+1 Singer for cancellation is expected to occur on 9 January 2015 and the Company will make a further announcement upon the completion of such purchase to notify Shareholders of the Company's total voting rights for the purpose of determining whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

The timetable for the settlement of the Tender Offer consideration is expected to be as follows:

CREST accounts credited with proceeds due under the Tender Offer 20 January 2015

Latest date for despatch of cheques for certificated Ordinary Shares 20 January 2015

pursuant to the Tender Offer

Balance of Certificates despatched in respect of Ordinary Shares 20 January 2015

Capitalised terms in this announcement have the same meaning as in the Circular except where otherwise indicated.

For further information please contact:

AIREA plc

Neil Rylance Chief, Executive Officer 01924 266561

Roger Salt, Finance Director

N+1 Singer

Richard Lindley 020 7496 3000

James White