Grit Real Estate Income Group Director/PDMR Shareholding (2567K)

TIDMGR1T

RNS Number : 2567K

Grit Real Estate Income Group

31 December 2020

 
 GRIT REAL ESTATE INCOME GROUP LIMITED 
  (Registered by continuation in the 
  Republic of Mauritius) 
  (Registration number: C128881 C1/GBL) 
  LSE share code: GR1T 
  SEM share code: DEL.N0000 
  ISIN: MU0473N00036 
  LEI: 21380084LCGHJRS8CN05 
  ("Grit" or the "Company") 
 

DEALING IN SECURITIES BY DIRECTOR/PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

The board of directors (the "Board") of Grit Real Estate Income Group Limited, a leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets underpinned by predominantly US$ and Euro denominated long-term leases with high quality multi-national tenants, has been notified that on Tuesday, 29 December 2020, Mr. Jonathan Crichton, who is a shareholder and independent non-executive director of Grit, acquired 50,000 ordinary shares of no par value ("Ordinary Shares") in the Company at a price of USD 0.75 per share. Following the purchase Mr. Crichton holds 130,000 Ordinary Shares representing 0.04% of the issued share capital.

Mr. Jonathan Crichton is a Person Discharging Managerial Responsibilities ("PDMR") for the purposes of the Market Abuse Regulation ("MAR").

The Notification of Transaction Form provided in accordance with the requirements of the MAR in relation to the transaction listed above is set out below.

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a.   Name                           Jonathan Crichton 
     -----------------------------  ---------------------------------------- 
 2    Reason for notification 
     ----------------------------------------------------------------------- 
 a.   Position/Status                Independent Non-Executive Director 
     -----------------------------  ---------------------------------------- 
 b.   Initial notification/          Initial Notification 
       Amendment 
     -----------------------------  ---------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a.   Name                           GRIT REAL ESTATE INCOME GROUP LIMITED 
     -----------------------------  ---------------------------------------- 
 b.   LEI                            21380084LCGHJRS8CN05 
     -----------------------------  ---------------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ----------------------------------------------------------------------- 
 a.   Description of the             Ordinary shares of No Par Value 
       financial instrument, 
       type of instrument 
 
                                      MU0473N00036 
       Identification Code 
     -----------------------------  ---------------------------------------- 
 b.   Nature of the transaction      Purchase of shares 
     -----------------------------  ---------------------------------------- 
 c.   Price(s) and volume(s)          Price(s)   Volume(s)   Total(s) 
                                       USD 0.75   50,000      USD 37,500 
                                                 ----------  ----------- 
     -----------------------------  ---------------------------------------- 
 d.   Aggregated information: 
        *    Aggregated Volume        Single transaction 
                                      As above 
 
        *    Price 
     -----------------------------  ---------------------------------------- 
 e.   Date of the transaction        29 December 2020 
     -----------------------------  ---------------------------------------- 
 f.   Place of the transaction       Stock Exchange of Mauritius Ltd 
     -----------------------------  ---------------------------------------- 
 

By Order of the Board

31 December 2020

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
Grit Real Estate Income Group Limited 
Bronwyn Corbett, Chief Executive Officer                                 [phone] 
Darren Veenhuis, Chief Strategy Officer and Head of Investor Relations   [phone] 
 
Maitland/AMO - Communications Adviser 
James Benjamin                                                           [phone] 
Jason Ochere                                                             [e-mail] 
 
finnCap Ltd - UK Financial Adviser & Broker 
William Marle/Giles Rolls/Edward Whiley (Corporate Finance)              [phone] 
Mark Whitfeld/Pauline Tribe (Sales)                                      [phone] 
Monica Tepes (Research)                                                  [phone] 
 
Perigeum Capital Ltd - SEM Authorised Representative and Sponsor 
Shamin A. Sookia                                                         [phone] 
Kesaven Moothoosamy                                                      [phone] 
 

NOTES:

Grit Real Estate Income Group Limited is a leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets in carefully selected African countries (excluding South Africa). These high-quality assets are underpinned by predominantly US$ 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 is targeting net total shareholder return inclusive of NAV growth of 12.0% p.a.*

The Company currently holds a primary listing on the Main Market of the London Stock Exchange (LSE: GR1T), while its listing on the Official Market of the Stock Exchange of Mauritius Ltd is termed as a secondary listing (SEM: DEL.N0000).

Further information on the Company is available at http://grit.group/

 
 *   This is a target only and not a profit forecast and there 
      can be no assurance that it will be met. Any forward-looking 
      statements and the assumptions underlying such statements 
      are the responsibility of the Board of directors and have 
      not been reviewed or reported on by the Company's external 
      auditors. 
 

Directors: Peter Todd(+) (Chairman), Bronwyn Corbett (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, Jonathan Crichton(+) , Sir Samuel Esson Jonah(+) , Nomzamo Radebe, Catherine McIlraith(+) , David Love(+) , and Bright Laaka (Permanent Alternate Director to Nomzamo Radebe).

(* Executive Director) ((+) Independent Non-Executive Director)

Company secretary : Intercontinental Fund Services Limited

Registered office address : c/o Intercontinental Fund Services Limited, Level 5, Alexander House, 35 Cybercity, Ebène 72201, Mauritius

Registrar and transfer agent (Mauritius) : Intercontinental Secretarial Services Limited

Sponsoring broker : Capital Markets Brokers Ltd

SEM authorised representative and sponsor : Perigeum Capital Ltd

UK Transfer secretary : Link Assets Services Limited

This notice is issued pursuant to the LSE Listing Rules, Article 19 of MAR, SEM Listing Rule 11.3 and the Mauritian Securities Act 2005. The Board accepts full responsibility for the accuracy of the information contained in this communiqué.

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December 31, 2020 02:45 ET (07:45 GMT)