TIDMGR1T
RNS Number : 0872U
Grit Real Estate Income Group
20 November 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")
SEM APPROVAL FOR THE ISSUE AND LISTING OF ADDITIONAL SHARES AND
ISSUE OF LISTING PARTICULARS
The board of Directors of Grit (the "Board") is pleased to
announce that the Listing Executive Committee of the Stock Exchange
of Mauritius Ltd (the "SEM") has approved, on 20 November 2019:
-- the issue and listing of up to 50,000,000 additional Grit
shares on the Official Market of the SEM for cash and/or for
acquisition issues in terms of private placements, at an offer
price to be decided by the Board; and
-- the issue and listing of 9,839,511 additional Grit shares on
the Official Market of the SEM, by way of consideration issue, as
settlement for the acquisition of 66,500,000 ordinary shares in the
issued share capital of Letlole La Rona Limited ("LLR"), each
indivisibly linked to one variable unsecured debenture of LLR
("Linked Units"), constituting 23.75% of the total Linked Units in
the capital of LLR (the "Consideration Issue").
For further information relating to the LLR transaction,
reference can be made to the announcement released by Grit on 20
November 2019.
Shareholders should note that whilst the Listing Executive
Committee of the SEM has approved the aforementioned issue and
listing of additional shares in terms of private placements and the
Consideration Issue, each actual issue and listing of additional
shares will still be subject to the applicable JSE Listings
Requirements and the Listing Rules of the London Stock
Exchange.
As required by the SEM Listing Rules, the Listing Particulars of
the Company as approved by the SEM, will be made available for
inspection for at least 14 days, during normal office hours at the
registered office of the Company which is situated at c/o
Intercontinental Fund Services Limited, Level 5, Alexander House,
35 Cybercity, Ebene 72201, Mauritius as from 20 November 2019. The
Listing Particulars will also be available on the Company's
website: http://grit.group/.
This announcement is not an invitation to the public to
subscribe for shares in the Company and is provided for information
purposes only.
By Order of the Board
20 November 2019
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited
Bronwyn Corbett, Chief Executive Officer +230 269 7090
Darren Veenhuis, Head of Investor Relations +44 779 512 3402
Morne Reinders, Investor Relations +27 82 480 4541
Maitland/AMO - Communications Adviser
James Benjamin +44 20 7379 5151
Vikki Kosmalska Grit-maitland@maitland.co.uk
Jason Ochere
finnCap Ltd - UK Financial Adviser
William Marle / Scott Mathieson / Matthew Radley
(Corporate Finance) +44 20 7220 5000
Mark Whitfeld (Sales) +44 20 3772 4697
Monica Tepes (Research) +44 20 3772 4698
Perigeum Capital Ltd - SEM Authorised Representative
and Sponsor
Shamin A. Sookia +230 402 0894
Kesaven Moothoosamy +230 402 0898
PSG Capital - JSE Sponsor and Corporate Adviser
David Tosi +27 21 887 9602
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 NAV growth of 12.0% p.a.*
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
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 directors of the Company accepts
full responsibility for the accuracy of the information contained
in this communiqué.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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