Grit Real Estate Income Group Issue & Proposed Acquisition not impacted by AGM (5400U)
03 December 2021 - 10:48PM
UK Regulatory
TIDMGR1T
RNS Number : 5400U
Grit Real Estate Income Group
03 December 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" )
Issue, Proposed Acquisition and General Meeting not impacted by
AGM result
Further to its announcement on 29 November 2021 giving details
of the results of the Company's 2021 annual general meeting, the
Company confirms that the failure to be passed at the AGM of
Special Resolution 1 (Authority to issue shares for cash on a
non-pre-emptive basis) does not impact on the Company's ability to
issue new Ordinary Shares pursuant to the proposed open offer and
placing (the "Issue") of new Ordinary Shares of the Company
announced on 22 November 2021.
As stated in the Company's combined prospectus and circular
dated 22 November 2021 (the "Prospectus"), published in connection
with the Issue, as the open offer is being made to all Shareholders
on a proportionate basis to their existing shareholdings and the
issue of new Ordinary Shares pursuant to the placing will only be
in respect of any new Ordinary Shares not taken up by Shareholders
pursuant to their open offer entitlements, there is no requirement
for Shareholder approval to waive the pre-emption rights in the
Company's articles of incorporation for the purposes of the
Issue.
The Company notes that there is some misunderstanding amongst
certain Shareholders and confirms that it continues to progress
with the Issue, Proposed Acquisition and General Meeting as
announced on 22 November 2021.
Terms not otherwise defined in this announcement have the
meanings given to them in the Prospectus.
By Order of the Board
3 December 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 - Sponsor, Sole Global Coordinator
and Bookrunner
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
Platform 3 - Corporate Adviser
Oliver Hare, Managing Partner oliver.hare@platform3.org
Perigeum Capital Ltd - SEM Authorised Representative
and Sponsor and Mauritian Transaction Adviser
and Placing Agent
Shamin A. Sookia +230 402 0894
Kesaven Moothoosamy +230 402 0898
Baden Hill (a trading name of Northland Capital
Partners) - Bookrunner
Roy Campbell rcampbell@badenhill.northlandcp.co.uk
Matthew Wakefield mwakefield@badenhill.northlandcp.co.uk
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
Mauritian sponsoring broker : Capital Markets Brokers 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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