DJ Results of General Meeting: Bora and Acacia Estate disposals
Grit Real Estate Income Group (GR1T)
Results of General Meeting: Bora and Acacia Estate disposals
16-Feb-2024 / 10:00 GMT/BST
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GRIT REAL ESTATE INCOME GROUP LIMITED
(Registered in Guernsey)
(Registration number: 68739)
LSE share code: GR1T
SEM share code (dual currency trading): DEL.N0000 (USD) / DEL.C0000(MUR)
ISIN: GG00BMDHST63
LEI: 21380084LCGHJRS8CN05
("Grit" or the "Company" and, together with its subsidiaries, the "Group")
RESULTS OF THE GENERAL MEETING
The board of Directors of Grit Real Estate Income Group Limited (the "Board") is pleased to announce that at the
general meeting of the Company ("GM") held at Unity Building, The Precinct, M2 Junction, B11 Fond du Sac Road, Grand
Baie at 1.00 p.m. (MUT) / 9.00 a.m. (GMT) today, Friday, 16 February 2024, all resolutions were passed by the Company's
shareholders.
Bronwyn Knight, CEO of Grit, commented:
"We are pleased to announce 93.87% support for the Bora and Acacia transactions, reaffirming the Board's strategy of
asset recycling at, or close to, book value and reinforces the Group's audited net asset value at 30 June 2023. The
resultant USUSD48.5 million GREA equity subscription will be used to reduce debt and applied towards development projects
that are expected to meaningfully contribute to ESG impact, accelerated NAV growth and fee income generation to the
Group, as is contemplated under the Grit 2.0 strategy."
The Public Investment Corporation of South Africa ("PIC") are a related party in relation to the transaction and did
not vote their shares. Adjusting for this, the participation rate was 72.3%. The detailed results of the voting, are as
follows:
Votes in favour Votes against Number of shares Number of shares
resolution as a resolution as a voted at GM as a abstained as a
percentage of total percentage of total Number of percentage of percentage of
Resolutions proposed at number of shares voted number of shares voted shares shares in issue shares in issue
the GM at GM at GM voted at GM
(rounded to 2 (rounded to 2
(rounded to 2 decimal (rounded to 2 decimal decimal place)* decimal place)*
place)* place)*
Ordinary Resolution
number 1:
To approve the Bora
Investment and authorise 93.87% 0.00% 283,365,621 57.23% 3.74%
the Board to implement
the Bora Investment
Ordinary Resolution
Number 2:
To approve the DH 93.87% 0.00% 283,365,621 57.23% 3.74%
Disposal and authorise
the Board to implement
the DH Disposal
* Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).
Total number of shares with voting rights in issue as at the date of the GM was 495,092,339.
In accordance with Listing Rule 9.6.2 of the UK Financial Conduct Authority ("FCA"), a copy of the resolutions passed at the GM has been submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Terms not otherwise defined in this announcement have the meanings given to them in the Circular issued by Grit on 29 January 2024.
By Order of the Board
16 February 2024
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited Bronwyn Knight, Chief Executive Officer +230 269 7090 Darren Veenhuis, Investor Relations +44 779 512 3402 Cavendish Capital Markets Limited - UK Financial Adviser James King/Teddy Whiley (Corporate Finance) +44 20 7220 0500 Justin Zawoda-Martin / Daniel Balabanoff / Pauline Tribe (Sales) +44 20 3772 4697 Perigeum Capital Ltd - SEM Authorised Representative and Sponsor Shamin A. Sookia +230 402 0894 Darren Chinasamy +230 402 0898 Capital Markets Brokers Ltd - Mauritian Sponsoring Broker Elodie Lan Hun Kuen +230 402 0280
NOTES:
Grit Real Estate Income Group Limited is the leading pan-African woman led real estate company focused on investing in, developing and actively managing a diversified portfolio of assets in carefully selected African countries (excluding South Africa). These high-quality assets are underpinned by predominantly USUSD and Euro denominated long-term leases with a wide range of blue-chip multi-national tenant covenants across a diverse range of robust property sectors.
The Company is committed to delivering strong and sustainable income for shareholders, with the potential for income and capital growth.
The Company holds its primary listing on the Main Market of the London Stock Exchange (LSE: GR1T and a dual currency trading secondary listing on the Stock Exchange of Mauritius (SEM: DEL.N0000 (USD) / DEL.C0000 (MUR)).
Further information on the Company is available at http://grit.group.
Directors: Peter Todd (Chairman), Bronwyn Knight (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, David Love+, Catherine McIlraith+, Jonathan Crichton+, Cross Kgosidiile, Nigel Nunoo+ and Lynette Finlay+.
(* Executive Director) (+ independent Non-Executive Director)
Company secretary: Intercontinental Fund Services Limited
Registered address: PO Box 186, Royal Chambers, St Julian's Avenue, St Peter Port, Guernsey GY1 4HP
Registrar and transfer agent (Mauritius): Intercontinental Secretarial Services Limited
UK Transfer secretary: Link Market Services Limited
SEM authorised representative and sponsor: Perigeum Capital Ltd
Mauritian sponsoring broker: Capital Markets Brokers Ltd
This notice is issued pursuant to the FCA Listing Rules, SEM Listing Rules 15.24 and the Mauritian Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the information contained in this communiqué.
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ISIN: GG00BMDHST63 Category Code: ROM TIDM: GR1T LEI Code: 21380084LCGHJRS8CN05 Sequence No.: 304371 EQS News ID: 1839163 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
February 16, 2024 05:00 ET (10:00 GMT)
