(Alliance News) - Grit Real Estate Income Group Ltd on Thursday said Ian Macleod, an independent non-executive director at the company, died on Sunday.
The pan-African real estate company has its headquarters in Mauritius and its dual-listed on the London and Johannesburg stock exchanges. Its board expressed its condolences to Macleod's family and friends and expressed gratitude for its contribution to the company over the past five years.
Chair Peter Todd said: "It is with great sadness that we have learned of the passing of Ian Macleod, our senior independent non-executive director. Ian was a great colleague and friend and it has been a huge privilege to know and work with him. He was a wise, insightful and much valued member of our board, playing a significant role in launching Grit and helping to support the company's growth by drawing on his extensive knowledge of African property and his passion for the industry. He will be sorely missed by all of us and we extend our condolences to Ian's wife and children."
Shares in Grit were down 0.9% at ZAR13.99 in Johannesburg on Thursday and were up 6.4% at USD0.80 in London.
Macleod had also been a non-executive director at Delta Property Fund Ltd since November 2014, Delta acknowledged his death on Wednesday, saying that "his significant contribution to Delta will be sorely missed".
By Anna Farley; annafarley@alliancenews.com
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