TIDMGR1T
RNS Number : 9466T
Grit Real Estate Income Group
29 November 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 ANNUAL GENERAL MEETING
The board of Directors (the "Board") of Grit is pleased to
announce that at the annual general meeting of the Company ("AGM")
held at 1:00 p.m. Mauritian time (9:00 a.m. UK time) on Monday, 29
November 2021, at 3rd Floor, La Croisette Shopping Centre, Grand
Baie, Mauritius, all resolutions were passed, except Special
Resolution Number 1: Authority to issue shares for cash on a
non-pre-emptive basis. The detailed results of the voting are as
follows:
Votes for Votes against
resolution resolution Number of
as a percentage as a percentage shares voted Number of
of total of total at AGM as shares abstained
number of number of Number of a percentage as a percentage
Resolutions proposed shares voted shares voted shares voted of shares of shares
at the AGM at AGM at AGM at AGM in issue in issue
Ordinary resolution
number 1:
Receiving and considering
the auditors' reports
and the Integrated
Annual Report 2021
and the adoption
of the audited
annual financial
statements 100% NIL 258,361,596 78.00% 0.01%
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 2:
Appointment of
PwC LLP (UK) as
the statutory auditor
of the Company 100% NIL 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 3:
Re-election of
Peter McAllister
Todd as Director
of the Company 100% NIL 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 4:
Re-election of
Bronwyn Anne Knight
as Director of
the Company 100% NIL 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 5:
Re-election of
Leon van de Moortele
as Director of
the Company 100% NIL 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 6:
Re-election of
Nomzamo Radebe
as Director of
the Company 100% NIL 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 7:
Re-election of
Catherine McIlraith
as Director of
the Company 89.94% 10.06% 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 8:
Re-election of
David Arthur Love
as Director of
the Company 100% NIL 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 9:
Re-election of
Sir Samuel Esson
Jonah as Director
of the Company 92.41% 7.59% 258,381,586 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 10:
Re-election of
Jonathan H.K. Crichton
as as Director
of the Company 100% NIL 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 11:
Re-election of
Cross Kgosidiile
as Director of
the Company 87.54% 12.46% 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 12:
Re-election of
Nchaupe Bright
Laaka as Director
of the Company 94.13% 5.87% 258,381,596 78.01% NIL
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 13:
Approval of issue
of awards 99.99% 0.01% 258,357,791 78.00% 0.01%
----------------- ----------------- -------------- -------------- ------------------
Ordinary resolution
number 14:
Non-binding advisory
vote on Grit's
implementation
report on the remuneration
policy 67.24% 32.76% 258,337,836 77.99% 0.01%
----------------- ----------------- -------------- -------------- ------------------
Special resolution
number 1:
Authority to issue
shares for cash
on a non-pre-emptive
basis 64.85% 35.15% 258,361,551 78.00% 0.01%
----------------- ----------------- -------------- -------------- ------------------
Special resolution
number 2:
Market Purchase
of Own Shares /
Share buy back 99.99% 0.01% 258,361,596 78.00% 0.01%
----------------- ----------------- -------------- -------------- ------------------
Total number of shares in issue as at the date of the AGM was
331,235,546.
Shareholders are further advised that, whilst ordinary
resolution number 14, relating to the non-binding advisory vote on
the implementation of the remuneration policy of the Company, was
supported by the majority of shareholders, the Company does
recognise that it was voted against by 32.76% of the votes
exercised by the Company's shareholders present in person or
represented by proxy at the AGM. Shareholders are further advised
that special resolution number 1, relating to the authority to
issue shares for cash on a non-pre-emptive basis, was not passed
and was voted against by 35.15% of the votes exercised by the
Company's shareholders present in person or represented by proxy at
the AGM.
The executives of Grit have taken this on board and are
committed to achieving a greater understanding of the underlying
reasons that has seen some shareholders being unable to support
these resolutions. The executives of Grit will initiate a
consultation with the Company's shareholders including dissenting
shareholders on Thursday, 9 December 2021 at 1.00 p.m. Mauritius
time (9.00 a.m. UK time) via a telephone conference to further
understand their position and perspectives on the resolutions.
All shareholders are asked to confirm their participation to the
company secretary by e-mail at Grit@intercontinentaltrust.com by no
later than close of business on Tuesday, 7 December 2021, who will
provide dial-in details for the telephone conference. Shareholders
are further invited to forward their concerns/questions on the
remuneration policy and/or the authority to issue shares for cash
on a non-pre-emptive basis to the company secretary in writing by
close of business on Tuesday, 7 December 2021.
In accordance with Listing Rule 9.6.2 of the UK Financial
Conduct Authority ("FCA"), a copy of the resolutions passed at the
A 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
29 November 2021
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited
Bronwyn Knight, Chief Executive Officer +230 269 7090
Darren Veenhuis, Chief Strategy Officer and Investor
Relations +44 779 512 3402
Maitland/AMO - Communications Adviser
James Benjamin +44 7747 113 930
Grit-maitland@maitland.co.uk
finnCap Ltd - UK Financial Adviser
William Marle / Teddy Whiley (Corporate Finance) +44 20 7220 5000
Mark Whitfeld / Pauline Tribe (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
Capital Markets Brokers Ltd - Mauritian Sponsoring
Broker
Neetusha Aubeeluck +230 402 0285
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 and 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.
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END
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