Director/PDMR Shareholding

RNS Number : 2405W

Grit Real Estate Income Group

21 December 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")

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

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 of the following dealings by Directors and Persons Discharging Managerial Responsibilities ("PDMRs") as part of the Open Offer and Placing which closed on Thursday, 16 December 2021.  All dealings have taken place at the Open Offer and Placing price of USD0.52 per share and are in respect of new ordinary shares of no par value ("New Ordinary Shares"). 

In addition, the GRIT Executive Share Trust ("Trust") acquired a further 5,588,462 New Ordinary Shares in the Open Offer and Placing, which increased the Trust's shareholding in the Company to 8,193,462 ordinary shares of no par value, representing 1.72% per cent. of the enlarged issued share capital of the Company. These New Ordinary Shares are intended to be used to satisfy future awards under the Company's Long Term Incentive Plan ("LTIP") . Where such awards are made to Directors and/or PDMRs a further announcement will be made.

The Notification of Transaction Forms provided in accordance with the requirements of the MAR in relation to the transactions mentioned above are 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	Mr Jonathan Crichton
b.	Name of PCA	N/A
c.	Relationship of PDMR to PCA	N/A
2	Reason for notification
a.	Position/Status	Independent Non-Executive Director
b.	Initial notification/ Amendment	Initial Notification
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 financial instrument, type of instrument Identification Code	Ordinary shares of No Par Value   GG00BMDHST63
b.	Nature of the transaction	Purchase of shares under the Open Offer and Placing
c.	Price(s) and volume(s)	Price(s)	Volume(s)	Total
		USD0.52	20,000	USD10,400
d.	Aggregated information - Aggregated Volume - Price	Single transaction As mentioned above
e.	Date of the transaction	21 December 2021
f.	Place of the transaction	Off market transaction
5	Share ownership immediately post
	New share ownership	200,000 shares (0.04% of issued share capital)

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	Ms. Bronwyn Knight
b.	Name of PCA	N/A
c.	Relationship of PDMR to PCA	N/A
2	Reason for notification
a.	Position/Status	Chief Executive Officer
b.	Initial notification/ Amendment	Initial Notification
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 financial instrument, type of instrument Identification Code	Ordinary shares of No Par Value   GG00BMDHST63
b.	Nature of the transaction	Purchase of shares under the Open Offer and Placing
c.	Price(s) and volume(s)	Price(s)	Volume(s)	Total
		USD0.52	576,923	USD300,000
d.	Aggregated information - Aggregated Volume - Price	Single transaction As mentioned above
e.	Date of the transaction	21 December 2021
f.	Place of the transaction	Off market transaction
5	Share ownership immediately post
	New share ownership	7,331,655 shares (1.54% of issued share capital)

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	Leon van de Moortele
b.	Name of PCA	Cuckoos Nest Trust
c.	Relationship of PDMR to PCA	Settlor and Beneficiary
2	Reason for notification
a.	Position/Status	Chief Financial Officer
b.	Initial notification/ Amendment	Initial Notification
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 financial instrument, type of instrument Identification Code	Ordinary shares of No Par Value   GG00BMDHST63
b.	Nature of the transaction	Purchase of shares under the Open Offer and Placing
c.	Price(s) and volume(s)	Price(s)	Volume(s)	Total
		USD0.52	384,615	USD200,000
d.	Aggregated information - Aggregated Volume - Price	Single transaction As mentioned above
e.	Date of the transaction	21 December 2021
f.	Place of the transaction	Off market transaction
5	Share ownership immediately post
	New share ownership	2,557,349 shares (0.54% of issued share capital)

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	Moira van der Westhuizen
b.	Name of PCA	N/A
c.	Relationship of PDMR to PCA	N/A
2	Reason for notification
a.	Position/Status	Chief Operating Officer
b.	Initial notification/ Amendment	Initial Notification
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 financial instrument, type of instrument Identification Code	Ordinary shares of No Par Value   GG00BMDHST63
b.	Nature of the transaction	Purchase of shares under the Open Offer and Placing
c.	Price(s) and volume(s)	Price(s)	Volume(s)	Total
		USD0.52	192,307	USD100,000
d.	Aggregated information - Aggregated Volume - Price	Single transaction As mentioned above
e.	Date of the transaction	21 December 2021
f.	Place of the transaction	Off market transaction
5	Share ownership
	New share ownership	237,307 shares (0.05% of issued share capital)

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	Adam Nisbet
b.	Name of PCA	N/A
c.	Relationship of PDMR to PCA	N/A
2	Reason for notification
a.	Position/Status	Head of Investment
b.	Initial notification/ Amendment	Initial Notification
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 financial instrument, type of instrument Identification Code	Ordinary shares of No Par Value   GG00BMDHST63
b.	Nature of the transaction	Purchase of shares under the Open Offer and Placing
c.	Price(s) and volume(s)	Price(s)	Volume(s)	Total
		USD0.52	192,307	USD100,000
d.	Aggregated information - Aggregated Volume - Price	Single transaction As mentioned above
e.	Date of the transaction	21 December 2021
f.	Place of the transaction	Off market transaction
5	Share ownership
	New share ownership	192,307 shares (0.04% of issued share capital)

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	Jacobus van Zyl
b.	Name of PCA	N/A
c.	Relationship of PDMR to PCA	N/A
2	Reason for notification
a.	Position/Status	Head of Treasury
b.	Initial notification/ Amendment	Initial Notification
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 financial instrument, type of instrument Identification Code	Ordinary shares of No Par Value   GG00BMDHST63
b.	Nature of the transaction	Purchase of shares under the Open Offer and Placing
c.	Price(s) and volume(s)	Price(s)	Volume(s)	Total
		USD0.52	200,624	104,324
d.	Aggregated information - Aggregated Volume - Price	Single transaction As mentioned above
e.	Date of the transaction	21 December 2021
f.	Place of the transaction	Off market transaction
5	Share ownership
	New share ownership	207,017 shares (0.04% of issued share capital)

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	Andries Smit
b.	Name of PCA	N/A
c.	Relationship of PDMR to PCA	N/A
2	Reason for notification
a.	Position/Status	Head of Real Estate
b.	Initial notification/ Amendment	Initial Notification
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 financial instrument, type of instrument Identification Code	Ordinary shares of No Par Value   GG00BMDHST63
b.	Nature of the transaction	Purchase of shares under the Open Offer and Placing
c.	Price(s) and volume(s)	Price(s)	Volume(s)	Total
		USD0.52	230,769	USD120,000
d.	Aggregated information - Aggregated Volume - Price	Single transaction As mentioned above
e.	Date of the transaction	21 December 2021
f.	Place of the transaction	Off market transaction
5	Share ownership
	New share ownership	230,769 shares (0.05% of issued share capital)

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	Darren Veenhuis
b.	Name of PCA	Noble Tree Capital Partners Ltd
c.	Relationship of PDMR to PCA	Director and Shareholder
2	Reason for notification
a.	Position/Status	Chief Strategy Officer
b.	Initial notification/ Amendment	Initial Notification
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 financial instrument, type of instrument Identification Code	Ordinary shares of No Par Value   GG00BMDHST63
b.	Nature of the transaction	Purchase of shares under the Open Offer and Placing
c.	Price(s) and volume(s)	Price(s)	Volume(s)	Total
		USD0.52	1,834,359	953,867
d.	Aggregated information - Aggregated Volume - Price	Single transaction As mentioned above
e.	Date of the transaction	21 December 2021
f.	Place of the transaction	Off market transaction
5	Share ownership
	New number of shares	1,834,359 shares (0.38% of issued share capital)

By Order of the Board

21 December 2021

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
James Benjamin	[phone]
	[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]
Capital Markets Brokers Ltd - Mauritian Sponsoring Broker
Neetusha Aubeeluck	[phone]

NOTES:

Grit Real Estate Income Group Limited is the 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 holds its primary listing on the Main Market of the London Stock Exchange (LSE: GR1T and a secondary listing on the Stock Exchange of Mauritius (SEM: DEL.N0000).

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

*  These are targets only and not a profit forecast and there can be no assurance that they 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 Knight (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, David Love+, Sir Samuel Esson Jonah+, Nomzamo Radebe, Catherine McIlraith+, Jonathan Crichton+, Cross Kgosidiile+ and Bright Laaka+ (Permanent Alternate Director to Nomzamo Radebe).

(* 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 Asset Services Limited 

SEM authorised representative and sponsor : Perigeum Capital Ltd

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

 

END

 

 

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