Grit Real Estate Income Group Results of the General Meeting (2841C)

TIDMGR1T

RNS Number : 2841C

Grit Real Estate Income Group

17 June 2021

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")

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 1 p.m. Mauritian time (10 a.m. UK time) today, Thursday, 17 June 2021, at 3rd Floor, La Croisette Shopping Centre, Grand Baie, Mauritius, all resolutions were passed by the Company's shareholders. The detailed results of the voting, are as follows:

 
                               Votes in 
                                favour resolution   Votes against                    Number of 
                                as a percentage      resolution                       shares voted   Number of 
                                of total             as a percentage                  at GM as        shares abstained 
                                number of            of total number                  a percentage    as a percentage 
                                shares voted         of shares                        of shares       of shares 
                                at GM                voted at GM       Number         in issue        in issue 
                                (rounded             (rounded to        of shares     (rounded        (rounded 
 Resolutions proposed           to 2 decimal         2 decimal          voted at      to 2 decimal    to 2 decimal 
  at the GM                     place)*              place)*            GM            place)*         place)* 
 Ordinary resolution 
  number 1: 
  Receiving and considering 
  the auditors' reports 
  and the Integrated 
  Annual Report and 
  the adoption of 
  the audited financial 
  statements                   100%                 Nil                235,673,596   71.15%          Nil 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 Ordinary resolution 
  number 2: 
  Appointment of 
  PricewaterhouseCoopers 
  LLP as statutory 
  auditors of the 
  Company                      100%                 Nil                235,669,379   71.15%          Nil 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 Ordinary resolution 
  number 3: 
  Authorisation to 
  the directors to 
  fix the remuneration 
  of PricewaterhouseCoopers 
  LLP as statutory 
  auditors of the 
  Company                      100%                 Nil                235,669,369   71.15%          Nil 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 Ordinary resolution 
  number 4: 
  Appointment of 
  Mr.Cross Kgosidiile 
  as Director of 
  the Company                  100%                 Nil                235,673,596   71.15%          Nil 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 Ordinary resolution 
  number 5: 
  Approval of the 
  2021 Long-Term 
  Incentive Scheme             99.69%               Nil                234,940,740   70.93%          0.22% 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 Ordinary resolution 
  number 6: 
  Authorisation to 
  the directors to 
  grant awards to 
  eligible persons 
  to subscribe for 
  shares up to a 
  total of 16,561,777 
  shares in aggregate, 
  being 5% of the 
  issued share capital 
  of the Company               100%                 Nil                235,673,556   71.15%          Nil 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 Ordinary resolution 
  number 7: 
  Approval of the 
  amended Remuneration 
  Policy                       61.91%               37.78%             234,940,350   70.93%          0.22% 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 Special resolution 
  number 8: 
  Authorisation to 
  directors to make 
  market purchases 
  of up to 49,652,208 
  of the ordinary 
  shares issued by 
  the Company                  100%                 Nil                235,673,196   71.15%          Nil 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 Special resolution 
  number 9: 
  Authorisation to 
  directors to disapply 
  pre-emptive rights 
  on the issue of 
  sale of ordinary 
  shares                       97.06%               2.63%              234,940,340   70.93%          0.22% 
                              -------------------  -----------------  ------------  --------------  ------------------ 
 

* Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).

A vote withheld is not a vote in law and it is not counted in the votes for and against resolutions.

Total number of shares with voting rights in issue as at the date of the GM was 331,235,546.

Shareholders are further advised that, as ordinary resolution number 7, relating to the non-binding advisory vote on the remuneration policy of the Company, were voted against by 20% or more of the votes exercised by the Company's shareholders present in person or represented by proxy at the GM, the executives of Grit will make themselves available to consult with such dissenting shareholders on Thursday, 1 July 2021 at 2 p.m. Mauritius time (11 a.m. UK time) via a telephone conference. All dissenting shareholders to confirm their participation to the company secretary by e-mail at [e-mail] by no later than close of business on Monday, 28 June 2021, who will provide dial-in details for the telephone conference. Dissenting shareholders are further invited to forward their concerns/questions on the remuneration policy to the company secretary in writing by close of business on 28 June 2021.

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 .

By Order of the Board

17 June 2021

FOR FURTHER INFORMATION PLEASE CONTACT:

 
 Grit Real Estate Income Group Limited 
 Bronwyn Knight, Chief Executive Officer                             [e-mail] 
 Darren Veenhuis, Chief Strategy Officer 
 
 Maitland/AMO - Communications Adviser 
 James Benjamin                                                      [phone] 
                                                                     [e-mail] 
 
 finnCap Ltd - UK Financial Adviser & Broker 
 William Marle / Giles Rolls / 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 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 Dollar 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 a net total shareholder return inclusive of net asset value growth of 12.0%+ per annum.*

The Company currently holds a 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/

 
 *   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:

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

Company secretary address : Level 5, Alexander House, 35 Cybercity, Ebene, 72201, Mauritius

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 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 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.

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June 17, 2021 08:25 ET (12:25 GMT)