Grit Real Estate Income Group (GR1T)
Board and Executive changes
19-Dec-2023 / 07:00 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")
BOARD AND EXECUTIVE CHANGES
The board of Directors (the "Board") of Grit Real Estate Income
Group Limited, a leading pan-African impact real estate company
focused on investing in, developing and actively managing a
diversified portfolio of assets underpinned by predominantly USUSD
and Euro denominated long-term leases with high quality
multi-national tenants, today announces changes to the Board.
Sir Sam Jonah reached retirement age recently and accordingly
withdrew himself from re-election at the annual general meeting,
held yesterday, and has stepped down from the Board today. The
Board would like to express its gratitude to Sir Sam for his
meaningful contribution to Grit over the years and wishes him well
for the future, and for his retirement.
The Board is pleased to announce the appointment of Mr Nigel
Nunoo as independent Non-Executive Director with effect from 19
December 2023. He has also been appointed as a member of the
Remuneration Committee.
Nigel is an experienced Global Senior Executive with 20+ years
of tenure at Prudential Financial, Inc. He is known for
successfully establishing and expanding the company's presence in
Africa. Nigel is a Fellow of the Society of Actuaries (FSA) and a
Chartered Financial Analyst (CFA) charter-holder who also has an
Executive MBA. Nigel has a proven track record of driving
sustainable growth and delivering sustainable profitability in
diverse global markets, spanning the United States, Europe, and
Africa and is fluent in English and several African languages.
Aside from the information set out in the announcement above, no
further information is required to be disclosed pursuant to Listing
Rule 9.6.13R.
Other Executive changes:
Leon van de Moortele, Executive Director and Chief Financial
Officer of the Grit group, is taking a medical leave of absence.
The Board are currently assessing the enlarged Group's shared
services model (post the acquisition of GREA and APDM) and will
make an announcement on a temporary replacement in due course. The
Group has business continuity plans in place to ensure the smooth
continuation of operations until the announcement of a temporary
replacement is made.
Peter Todd, Non-Executive Chairman of Grit, commented:
"I would like to express my gratitude to Sir Sam for his
meaningful contribution to Grit over the years and to wish him well
for the future and for his retirement.
The Board is also looking forward to working closely with Nigel.
His extensive expertise in global markets and well-established
network throughout the region will be a great support for Grit's
continued growth and enhancing of shareholder value."
By Order of the Board
19 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+, Catherine McIlraith+, Jonathan Crichton+,
Cross Kgosidiile, Nigel Nunoo+ 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: BOA
TIDM: GR1T
LEI Code: 21380084LCGHJRS8CN05
Sequence No.: 292688
EQS News ID: 1799321
End of Announcement EQS News Service
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