Results of the General Meeting

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:

Resolutions proposed at the GM	Votes in favour resolution as a percentage of total number of shares voted at GM (rounded to 2 decimal place)*	Votes against resolution as a percentage of total number of shares voted at GM (rounded to 2 decimal place)*	Number of shares voted at GM	Number of shares voted at GM as a percentage of shares in issue (rounded to 2 decimal place)*	Number of shares abstained as a percentage of shares in issue (rounded to 2 decimal 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.

 

END

 

 

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