Grit Real Estate Income Group Director/PDMR Shareholding (7774I)

TIDMGR1T

RNS Number : 7774I

Grit Real Estate Income Group

20 April 2022

 
 GRIT REAL ESTATE INCOME GROUP LIMITED 
  (Registered in Guernsey) 
  (Registration number: 68739) 
  LSE share code: GR1T 
  SEM share code: DEL.N0000 
  ISIN: GG00BMDHST63 
  LEI: 21380084LCGHJRS8CN05 
  ("Grit" or the "Company" and, together with its 
  subsidiaries, the "Group" ) 
 

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

In relation to the Proposed Acquisition of interests in GREA and APDM ("the "Transaction"), which was notified in the Prospectus and Circular on 22 November 2021 and further updates announced by the Company on 11 April 2022 and 19 April 2022, the following dealings by Director and Person Discharging Managerial Responsibilities ("PDMRs") have now been completed. All dealings took place at the issue price of USD0.52 per new ordinary share and the shares were admitted to trading on 20 April 2022.

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.

 
 Notification of a Transaction pursuant to Article 19(1) of 
  Regulation (EU) No. 596/2014 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
     ------------------------------------------------------------------------ 
 a.   Name of PDMR                Bronwyn Knight 
     --------------------------  -------------------------------------------- 
 b.   Name of PCA                 Dorado 1 Ltd 
     --------------------------  -------------------------------------------- 
 2    Reason for notification 
     ------------------------------------------------------------------------ 
 a.   Position/Status             Bronwyn Knight, CEO of Grit, is a settlor 
                                   of the Kenzlex Trust, which is a 50% 
                                   holder of the PCA 
     --------------------------  -------------------------------------------- 
 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 
 
       Identification Code         GG00BMDHST63 
     --------------------------  -------------------------------------------- 
 b.   Nature of the transaction   Issue of Grit shares as consideration 
                                   for sale of interests in GREA and APDM, 
                                   as notified in the Prospectus and Circular 
                                   on 22 November 2021 and further updates 
                                   announced by the Company on 11 and 19 
                                   April 2022 . 
     --------------------------  -------------------------------------------- 
 c.   Price(s) and volume(s)       Price(s)   Volume(s)   Total(s) 
                                    USD0.52    5,170,702   USD2,688,765.04 
                                              ----------  ---------------- 
     --------------------------  -------------------------------------------- 
 d.   Aggregated information: 
        *    Aggregated Volume 
                                   Single transaction 
                                   As above 
        *    Price 
     --------------------------  -------------------------------------------- 
 e.   Date of the transaction     20 April 2022 
     --------------------------  -------------------------------------------- 
 f.   Place of the transaction    Off market 
     --------------------------  -------------------------------------------- 
 g    New total beneficial        2.28% of the outstanding shares of the 
       interest                    Issuer 
     --------------------------  -------------------------------------------- 
 

By Order of the Board

20 April 2022

FOR FURTHER INFORMATION, PLEASE CONTACT :

 
 Grit Real Estate Income Group Limited 
 Bronwyn Knight, Chief Executive Officer                 [phone] 
 Darren Veenhuis, Chief Strategy Officer and 
  Investor Relations                                     [phone] 
 
 Maitland/AMO - Communications Adviser 
                                                         [phone] / +44 
 James Benjamin                                           7379 5151 
 Alistair de Kare-silver                                 [e-mail] 
 
 finnCap Ltd - UK Financial Adviser 
 William Marle/ Teddy 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 the leading pan-African 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 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 holds its primary listing on the premium segment of the Main Market of the London Stock Exchange (LSE: GR1T) and a secondary listing on the Official Market of the Stock Exchange of Mauritius Ltd (SEM: DEL.N0000).

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)*, Jonathan Crichton(+) , Sir Samuel Esson Jonah(+) , Nomzamo Radebe, Catherine McIlraith(+) , David Love(+) , Cross Kgosidiile and Bright Laaka (Permanent Alternate Director to Nomzamo Radebe).

(* 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 Ltd

Mauritian 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 and 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.

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April 20, 2022 08:00 ET (12:00 GMT)