focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Business model
Grit Investment Trust was established as a self-managed investment trust run by its Board taking all major decisions collectively.
Investment objective
GRIT's investment objective was to generate medium and long-term capital growth through investing in a diverse portfolio of primarily small and mid-capitalisation natural resources and mining companies, which were listed/quoted on a relevant exchange.
Investment policy
GRIT's investment policy was established to diversify its investments across a number of companies, with a range of natural resource assets, in jurisdictions globally. There were no restrictions as to the commodity classes and geographical regions into which GRIT could invest. However, as it has not been possible for the Company to achieve ongoing AIFM authorisation the Company announced on 16 September 2022 that it is seeking a "Reverse Takeover" (RTO) by the acquisition of a business which enables the Company to achieve an appropriate listing on a public market.
Grit need an rto as it can’t move forward as afim issue
Https://www.grinvestmenttrust.com/announcements/28042023%20Final%20Results.pdf
Charlotte and Richard edwards involved. Grit is seeking an rto to capitalise its resource portfolio worth £39mill
Https://www.theaic.co.uk/companydata/grit-investment-trust/announcements/395871
Https://www.lse.co.uk/news/fragrant-prosperity-shares-stay-suspended-as-yet-to-publish-results-elmcudmgq1lclvz.html
And fragrant prosperity failed rto with same company
Failed £28 mill rto that failed to happen late 2022
https://businesscloud.co.uk/news/reverse-takeover-at-28m-fintech-hi/
Https://oscillateplc.com/advisors/
Peterhouse
From recent rns Dke 4th march “ As the new investors were introduced by Peterhouse Capital Limited ("Peterhouse") and in light of the work undertaken by Peterhouse to date, the Company has agreed to provide Peterhouse with warrants over 3% of the Company's issued share capital from time to time, exercisable over 3 years at £0.001 (the "Warrants").
Looks like this is the potential rto and they hold cash and some superb investments