PDMR Announcement

RNS Number : 5047Q

Grit Real Estate Income Group

19 February 2019

 

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 JSE share code: GTR ISIN: MU0473N00036 ("Grit" or the "Company")

TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMR")

The Board of Grit Real Estate Income Group Limited (the "Board"), 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 15 February 2019, Bronwyn Corbett, Chief Executive Officer of the Company, acquired 10,000 ordinary shares in the Company at a price of R19.50 per share.

The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to the transaction listed above is set out below.

1.	Details of PMDR
a)	Name of PDMR	Bronwyn Corbett
2.	Reason for the notification
a)	Position / status	Chief Executive Officer of Grit
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 MU0473N00036
b)	Nature of the transaction	Purchase of ordinary shares (On-market)
c)	Price(s) and volume(s)	Price(s) Volume(s) Total(s) 19 Rand and 50 cents 10 000 R195,000.00
d)	Aggregated information: •           Aggregated volume •           Price	See above
e)	Date of the transaction	15 February 2019
f)	Place of the transaction	Johannesburg Stock Exchange, Main Market (JSE)
g)	Nature and extent of interest in the transaction	Direct, beneficial
h)	Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the Listings Requirements of the JSE Limited and Appendix 6 of the Listing Rules of the Stock Exchange of Mauritius Ltd.

By Order of the Board

19 February 2019

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]
Vikki Kosmalska	[e-mail]
Jason Ochere
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 an annual dividend yield in USD of 8%+ and a net total shareholder return inclusive of NAV growth of 12.0%+ p.a.*

Grit is listed on the London Stock Exchange main market (LSE: GR1T), the Johannesburg Stock Exchange main board (JSE: GTR) and the Stock Exchange of Mauritius Ltd official market (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.

Directors:

Peter Todd+ (Chairman), Bronwyn Corbett (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, Ian Macleod+, Matshepo More, Nomzamo Radebe, Catherine McIlraith+, David Love+ and Bright Laaka (Permanent Alternate Director to Nomzano 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

JSE sponsor: PSG Capital Proprietary Limited 

Sponsoring broker: Axys Stockbroking Limited

SEM authorised representative and sponsor: Perigeum Capital Ltd

This notice is issued pursuant to the JSE Listings Requirements, the LSE Listing Rules, Article 19 of MAR, SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007.  The board of directors of the Company accepts full responsibility for the accuracy of the information contained in this communiqué.

 

END

 

 

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