Grit Real Estate Income Group (GR1T)
Result of AGM
18-Dec-2023 / 13:38 GMT/BST
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GRIT REAL ESTATE INCOME GROUP LIMITED
(Registered in Guernsey)
(Registration number: 68739)
LSE share code: GR1T
SEM share code (dual currency trading): DEL.N0000 (USD) / DEL.C0000(MUR)
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,
18th December 2023, all resolutions were passed. The detailed
results of the voting are as follows:
Votes for Votes against Number of shares Number of shares
resolution as a resolution as a voted at AGM as a abstained as a
percentage of total percentage of total Number of percentage of percentage of
Resolutions proposed at the number of shares number of shares shares shares in issue shares in issue
AGM voted at AGM voted at AGM voted at
AGM (rounded to 2 (rounded to 2
(rounded to 2 (rounded to 2 decimal decimal places)* decimal places)*
decimal places)* places)*
Ordinary Resolution Number 1 -
Receiving and considering the
auditors' report and the
100.00% 0.00% 416,579,539 84.14% 0.00%
Integrated Annual Report and
the adoption of the audited
annual financial statements
Ordinary Resolution Number 2 -
Appointment of
PricewaterhouseCoopers LLP as
the 100.00% 0.00% 416,581,539 84.14% 0.00%
statutory auditors of the
Company
Ordinary Resolution Number 3 -
Re-election of Peter Todd as a 99.99% 0.01% 415,431,086 83.91% 0.24%
Director of the Company
Ordinary Resolution Number 4 -
Re-election of Bronwyn Knight
as a Director of the 99.60% 0.40% 415,431,086 83.91% 0.24%
Company
Ordinary Resolution Number 5 -
Re-election of Catherine
McIlraith as a Director of the 99.99% 0.01% 415,431,086 83.91% 0.24%
Company
Ordinary Resolution Number 6 -
Re-election of David Love as a 99.99% 0.01% 415,431,086 83.91% 0.24%
Director of the Company
Ordinary Resolution Number 7 -
Re-election of Jonathan
Crichton as a Director of the 99.99% 0.01% 415,431,086 83.91% 0.24%
Company
Ordinary Resolution Number 8 -
Re-election of Cross 99.99% 0.01% 415,431,086 83.91% 0.24%
Kgosidiile as a Director of
the Company
Ordinary Resolution Number 9 -
Election of Lynette Finlay as 99.99% 0.01% 415,431,086 83.91% 0.24%
a Director of the Company
Ordinary Resolution Number 10
- Non-binding advisory vote on 71.40% 28.60% 416,510,039 84.13% 0.02%
Grit's implementation report
on the remuneration policy
Ordinary Resolution Number 11
- Authority to grant awards 96.16% 3.84% 403,479,970 81.50% 2.65%
under the LTIP
Special Resolution Number 1 -
Market Purchase of Own Shares 96.43% 3.57% 405,502,586 83.92% 0.22%
/ Share buy back
Special Resolution Number 2 -
Authority to issue shares for
cash on a non-pre-emptive 96.15% 3.85% 416,494,939 84.12% 0.02%
Basis
Special Resolution Number 3 -
Authority to sell shares from
treasury for cash on a 96.42% 3.57% 399,408,536 80.67% 3.47%
non-preemptive
Basis
* Percentages are expressed as a proportion of the total votes
cast (which does not include votes withheld).
Total number of shares in issue as at the date of the AGM was
495,092,339.
Engagement with Dissenting Shareholders
Shareholders are further advised that, whilst ordinary
resolution number 10, relating to the non-binding advisory vote on
Grit's implementation report on the remuneration policy, was
supported by the majority of shareholders, the Company does
recognise that it was voted against by 28.60% 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
this resolution. The executives of Grit will initiate a
consultation with the Company's shareholders including dissenting
shareholders on Wednesday, 17 January 2024 at 13.00 hours Mauritius
time (09.00 hours UK time) via a telephone conference to further
understand their position and perspectives on the resolution.
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 Wednesday 10 January 2024, who will
provide dial-in details for the telephone conference. Shareholders
are further invited to forward their concerns/questions on the
remuneration policy to the company secretary in writing by close of
business on Wednesday, 10 January 2024.
An update on the views received from shareholders and actions
taken will be published no later than six months after the meeting
with the dissenting shareholders.
In accordance with Listing Rules 9.6.2 and 9.6.3 of the UK
Financial Conduct Authority ("FCA"), a copy of the resolutions
passed at the AGM 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
18 December 2023
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited
Bronwyn Knight, Chief Executive Officer +230 269 7090
Darren Veenhuis, Investor Relations +44 779 512 3402
Cavendish Capital Markets Limited - UK Financial Adviser
William Marle/Teddy Whiley (Corporate Finance) +44 20 7220 5000
Pauline Tribe (Sales) +44 20 3772 4697
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
Elodie Lan Hun Kuen +230 402 0280
NOTES:
Grit Real Estate Income Group Limited is the leading pan-African
woman led real estate company focused on investing in, developing
and actively managing a diversified portfolio of assets in
carefully selected African countries (excluding South Africa).
These high-quality assets are underpinned by predominantly USUSD
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 holds its primary listing on the Main Market of the
London Stock Exchange (LSE: GR1T and a dual currency trading
secondary listing on the Stock Exchange of Mauritius (SEM:
DEL.N0000 (USD) / DEL.C0000 (MUR)).
Further information on the Company is available at
http://grit.group.
Directors: Peter Todd (Chairman), Bronwyn Knight (Chief
Executive Officer)*, Leon van de Moortele (Chief Financial
Officer)*, David Love+, Sir Samuel Esson Jonah+, Catherine
McIlraith+, Jonathan Crichton+, Cross Kgosidiile and Lynette
Finlay+.
(* 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 Market 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, SEM
Listing Rules 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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Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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ISIN: GG00BMDHST63
Category Code: RAG
TIDM: GR1T
LEI Code: 21380084LCGHJRS8CN05
Sequence No.: 292683
EQS News ID: 1799241
End of Announcement EQS News Service
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