DJ RESULTS OF THE ANNUAL GENERAL MEETING
Grit Real Estate Income Group (GR1T)
RESULTS OF THE ANNUAL GENERAL MEETING
13-Dec-2024 / 12:30 GMT/BST
=----------------------------------------------------------------------------------------------------------------------
GRIT REAL ESTATE INCOME GROUP LIMITED
(Registered in Guernsey)
(Registration number: 68739)
LSE share code: GR1T
SEM share codes (dual currency trading): DEL.N0000 (USD) / DEL.C0000 (MUR)
ISIN: GG00BMDHST63
LEI: 21380084LCGHJRS8CN05
("Grit" or the "Company" or the "Group")
RESULTS OF THE ANNUAL GENERAL MEETING
The board of Directors (the "Board") of Grit is pleased to announce that at the annual general meeting of the Company ("AGM") held at 2:30 p.m. Mauritian time (10:30 a.m. UK time) on Friday, 13 December 2024, all resolutions were passed. The detailed results of the voting are as follows:
Votes for Votes against Number of Number of
resolution as a resolution as a shares voted at shares
percentage of percentage of AGM as a abstained as a
total number of total number of Number of percentage of percentage of
Resolutions proposed at the AGM shares voted at shares voted at shares shares in issue shares in
AGM AGM voted at issue
AGM (rounded to 2
(rounded to 2 (rounded to 2 decimal places) (rounded to 2
decimal places)* decimal places)* * decimal
places)*
Ordinary Resolution Number 1 -
Receiving and considering the
auditors' report and the Integrated 100.00% 0.00% 397,183,006 80.22% 0.67%
Annual Report and the adoption of the
audited annual financial statements
Ordinary Resolution Number 2 -
Appointment of MacIntyre Hudson LLP as 100.00% 0.00% 397,183,006 80.22% 0.67%
the statutory auditors of the Company
Ordinary Resolution Number 3 -
Re-election of Peter Todd as a 96.29% 3.71% 397,102,335 80.21% 0.68%
Director of the Company
Ordinary Resolution Number 4 -
Re-election of Bronwyn Corbett as a
Director of the Company 96.29% 3.71% 397,183,006 80.22% 0.67%
Ordinary Resolution Number 5 -
Re-election of Gareth Schnehage as a
Director of the 100.00% 0.00% 397,102,335 80.21% 0.68%
Company
Ordinary Resolution Number 6 -
Re-election of David Love as a 99.98% 0.02% 397,180,883 80.22% 0.67%
Director of the Company
Ordinary Resolution Number 7 -
Re-election of Catherine McIlraith as 100.00% 0.00% 397,180,883 80.22% 0.67%
a Director of the Company
Ordinary Resolution Number 8 -
Re-election of Cross Kgosidiile as a 100.00% 0.00% 397,180,883 80.22% 0.67%
Director of the Company
Ordinary Resolution Number 9 -
Re-election of Lynette Finlay as a 100.00% 0.00% 397,180,883 80.22% 0.67%
Director of the Company
Ordinary Resolution Number 10 -
Election of Nigel Nunoo as a Director 100.00% 0.00% 397,183,006 80.22% 0.67%
of the Company
Ordinary Resolution Number 11 -
Approval to grant awards under the 89.09% 10.91% 397,183,006 80.22% 0.67%
LTIP
Ordinary Resolution Number 12 - 69.68% 30.32% 397,183,006 80.22% 0.67%
Remuneration Policy
Ordinary Resolution Number 13 -
Non-binding advisory vote on Grit's 70.27% 29.73% 397,183,006 80.22% 0.67%
implementation report on the
remuneration policy
Ordinary Resolution Number 14 - Market
Purchase of Own Shares / Share buy 95.69% 4.31% 397,183,006 80.22% 0.67%
back
Special Resolution Number 1 -
Authority to issue shares for cash on 95.66% 4.34% 397,183,006 80.22% 0.67%
a non-pre-emptive basis
Special Resolution Number 2 -
Authority to sell shares from treasury 99.37% 0.63% 397,183,006 80.22% 0.67%
for cash on a non-preemptive basis
* Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).
Total number of shares in issue as at the date of the AGM was 495,092,339.
Engagement with Dissenting Shareholders
Shareholders are further advised that, whilst ordinary resolutions number 12 and 13, relating to the remuneration policy and non-binding advisory vote on Grit's implementation report on the remuneration policy, were supported by the majority of shareholders, the Company does recognise that they were each voted against by 30.32% and 29.73% respectively, of the votes exercised by the Company's shareholders present in person or represented by proxy at the AGM.
The executives of Grit have taken this on board and are committed to achieving a greater understanding of the underlying reasons that has seen some shareholders being unable to support these resolutions. The executives of Grit will initiate a consultation with the Company's shareholders including dissenting shareholders on Wednesday, 22 January 2025 at 2 p.m. Mauritian time (10 a.m. UK time) via a telephone conference to further understand their position and perspectives on these resolutions.
All shareholders are asked to confirm their participation to the company secretary by e-mail at Grit@intercontinentaltrust.com by no later than close of business on Wednesday, 15 January 2025, who will provide dial-in details for the telephone conference. Shareholders are further invited to forward their concerns/questions on the remuneration policy to the company secretary in writing by close of business on Wednesday, 15 January 2025.
An update on the views received from shareholders and actions taken will be published no later than six months after the meeting with the dissenting shareholders.
In accordance with Listing Rules 9.6.2 and 9.6.3 of the UK Financial Conduct Authority ("FCA"), a copy of the resolutions passed at the AGM has been submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at the link below:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
By Order of the Board
13 December 2024
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited Bronwyn Corbett, Chief Executive Officer +230 269 7090 Group Investor Relations ir@grit.group Cavendish Capital Markets Limited - UK Financial Adviser James King / Tunga Chigovanyika / Teddy Whiley (Corporate Finance) +44 20 7220 5000 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 0885 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 impact 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 www.grit.group
Directors: Peter Todd (Chairman), Bronwyn Corbett (Chief Executive Officer) *, Gareth Schnehage (Chief Financial Officer) *, David Love+, Catherine McIlraith+, Cross Kgosidiile, Lynette Finlay+ and Nigel Nunoo+.
(* Executive Director) (+ independent Non-Executive Director)
Company secretary: Intercontinental Fund Services Limited
Registered office 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
SEM authorised representative and sponsor: Perigeum Capital Ltd
UK Transfer secretary: Link Assets Services Limited
Mauritian Sponsoring Broker: Capital Markets Brokers Ltd
This notice is issued pursuant to the FCA Listing Rules, SEM Listing Rule 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.
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
ISIN: GG00BMDHST63 Category Code: RAG TIDM: GR1T LEI Code: 21380084LCGHJRS8CN05 Sequence No.: 365179 EQS News ID: 2051163 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=2051163&application_name=news&site_id=dow_jones%7e%7e%7ef1066a31-ca00-4e1a-b0a4-374bd7d0face
(END) Dow Jones Newswires
December 13, 2024 07:30 ET (12:30 GMT)
