Dividend Declaration

RNS Number : 8407C

Grit Real Estate Income Group

13 February 2020

 

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

DIVIDEND DECLARATION

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, advises Shareholders that dividend number 12 of US$ 5.25000 cents per share for the six months ended 31 December 2019 has been approved and declared by the Board of the Company. The source of the cash dividend is from rental income and cum-dividend reserve.

Salient dates and times

For shareholders on the Mauritian Register	2020
Announcement of cash dividend on JSE, SEM and LSE	Thursday, 13 February
Announcement of US$ to Rand conversion rate released on SEM website by no later than 1:00pm	Tuesday, 25 February
Last date to trade cum dividend	Tuesday, 3 March
Shares trade ex-dividend	Wednesday, 4 March
Record date of dividend on the SEM	Friday, 6 March
Payment date of dividend	Friday, 3 April

Notes

1.  All dates and times quoted above are local dates and times in Mauritius. The above dates and times are subject to change. Any changes will be released on the SEM website.

2.  No dematerialisation or rematerialisation of share certificates may take place between Wednesday, 4 March 2020 and Friday, 6 March 2020, both days inclusive.

3.  No transfer of shares between sub-registers in Mauritius, South Africa and the UK may take place between Tuesday, 25 February 2020 and Friday, 6 March 2020, both days inclusive.

4.  Shareholders on the Mauritian sub-register who have opted to receive their dividends through bank transfer, will be paid in US$.  Shareholders on the Mauritian sub-register who have opted to receive their dividends by cheque, will be provided with a MUR bank cheque, based on the US$:MUR exchange rate prevailing on the payment date, being Friday, 3 April 2020.  Should the latter shareholders wish to receive their dividends through bank transfer, they are required to contact Grit's Mauritian Registrar and Transfer Agent, Intercontinental Secretarial Services Limited (email: [e-mail] | Tel: [phone]) by no later than Friday, 27 March 2020.

For shareholders on the South African Register	2020
Announcement of cash dividend on JSE, SEM and LSE	Thursday, 13 February
Announcement of US$ to Rand conversion rate released on SENS by no later than 11:00am	Tuesday, 25 February
Last date to trade cum dividend	Tuesday, 3 March
Shares trade ex-dividend	Wednesday, 4 March
Record date of dividend on the JSE	Friday, 6 March
Payment date of dividend	Friday, 3 April

Notes

1.  All dates and times quoted above are local dates and times in South Africa. The above dates and times are subject to change. Any changes will be released on SENS.

2.  No dematerialisation or rematerialisation of share certificates may take place between Wednesday, 4 March 2020 and Friday, 6 March 2020, both days inclusive.

3.  No transfer of shares between sub-registers in Mauritius, South Africa and the UK may take place between Tuesday, 25 February 2020 and Friday, 6 March 2020, both days inclusive.

4.  Shareholders on the South African sub-register will receive dividends in South African Rand, based on the exchange rate to be obtained by the Company on or before Tuesday, 25 February 2020. A further announcement in this regard will be made on Tuesday, 25 February 2020.

For shareholders on the UK Register	2020
Announcement of cash dividend on JSE, SEM and LSE	Thursday, 13 February
Announcement of US$ to Rand conversion rate released on the Regulatory Information Service of the LSE by no later than 10:00am	Tuesday, 25 February
Last date to trade cum dividend	Wednesday, 4 March
Shares trade ex-dividend	Thursday, 5 March
Record date of dividend on the LSE	Friday, 6 March
Last date for receipt of currency election forms	Friday, 6 March
Payment date of dividend	Friday, 3 April

Notes

1.  All dates and times quoted above are local dates and times in the UK. The above dates and times are subject to change. Any changes will be released on a Regulatory Information Service of the LSE.

2.  No dematerialisation or rematerialisation of share certificates may take place between Wednesday, 4 March 2020 and Friday, 6 March 2020, both days inclusive.

3.  No transfer of shares between sub-registers in Mauritius, South Africa and the UK may take place between Tuesday, 25 February 2020 and Friday, 6 March 2020, both days inclusive.

4.  Shareholders on the UK sub-register will receive dividends in US$. However, shareholders can elect to have dividends paid in sterling (GBP) and the option to elect a sterling dividend payment for this dividend will be available to shareholders until Friday, 6 March 2020 (the "Election Date").

5.  Further details together with a copy of the Dividend Currency Election Form, which should be sent to Link Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU when completed, will be available on the Company's website shortly at http://grit.group/. CREST shareholders must elect via CREST.

In terms of the JSE Listings Requirements regarding Dividends Tax, the following information is only of direct application to shareholders on the South African share register, as the dividend is regarded as a foreign dividend for shareholders on the South African share register:

·    the final dividend is subject to South African Dividends Tax;

·    the local dividend tax rate is 20%;

·    there is no withholding tax payable in Mauritius;

·    the number of ordinary shares in issue is 316 235 546; and

·    the Mauritian income tax reference number of the Company is 27331528.

By order of the Board

13 February 2020

FOR FURTHER INFORMATION PLEASE CONTACT:

Grit Real Estate Income Group Limited
Bronwyn Corbett, Chief Executive Officer	[phone]
Darren Veenhuis, Head of Investor Relations	[phone]
Morne Reinders, Investor Relations	[phone]
Maitland/AMO - Communications Adviser
James Benjamin	[phone]
	[e-mail]
finnCap Ltd - UK Financial Adviser
William Marle / Scott Mathieson / Matthew Radley (Corporate Finance)	[phone]
Mark Whitfeld (Sales)	[phone]
Monica Tepes (Research)	[phone]
Perigeum Capital Ltd - SEM Authorised Representative and Sponsor
Shamin A. Sookia	[phone]
Kesaven Moothoosamy	[phone]
PSG Capital - JSE Sponsor and Corporate Adviser
David Tosi	[phone]

The Company's LEI is: 21380084LCGHJRS8CN05

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 a net total shareholder return inclusive of net asset value growth of 12.0%+ per annum.*

The Company currently holds primary listings on both the Main Market of the London Stock Exchange (LSE: GR1T) and on the Main Board of the Johannesburg Stock Exchange (JSE: GTR), 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)*, Ian Macleod⁺, Nomzamo Radebe, Catherine McIlraith⁺, David Love⁺, Sir Samuel Esson Jonah⁺, and Bright Laaka (Permanent Alternate Director to Nomzamo Radebe).

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

Company secretary: Intercontinental Fund Services Limited

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

Transfer secretary (South Africa): Computershare Investor Services Proprietary Limited

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

Corporate advisor and JSE sponsor: PSG Capital Proprietary Limited 

SEM authorised representative and sponsor: Perigeum Capital Ltd

This notice is issued pursuant to the LSE Listing Rules, JSE Listings Requirements, 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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