Last checked at 31 Dec 2019 07:00
GRIT REAL ESTATE INCOME GROUP LIMITED (Registered by continuation in the Republic of Mauritius) (Registration number: C128881 C1/GBL) LSE share code: GR1T SEM share code: DEL.N0000 JSE share code: GTR ISIN: MU0473N00036 ("Grit" or the "Company") |
DEALING IN SECURITIES BY DIRECTOR/PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
The board of directors (the "Board") of Grit Real Estate Income Group Limited, a leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets underpinned by predominantly US$ and Euro denominated long-term leases with high quality multi-national tenants, has been notified that on Monday, 30 December 2019, Copapax Proprietary Limited ("Copapax") entered into an agreement with Freedom Asset Management Limited ("Freedom") to transfer, subject to regulatory approval, 1,135,000 ordinary shares in the Company previously pledged as security for a Copapax loan, which have been released from pledge following the repayment of bank financing lent to Copapax.
Copapax is a Person Closely Associated ("PCA") with a Person Discharging Managerial Responsibilities ("PDMR") for the purposes of the Market Abuse Regulation ("MAR") and an associate for purposes of the Listings Requirements of the JSE Limited ("JSE Listings Requirements").
Freedom is a PCA with a PDMR for the purposes of the MAR and an associate for purposes of the JSE Listings Requirements.
As a result of the transfer, there is no change to the beneficial ownership of ordinary shares in Grit held by Bronwyn Corbett, Grit's CEO, who is a shareholder and director of Copapax and Freedom. Mrs Corbett's beneficial ownership remains 5,776,307 Grit shares (2018: 5,459,614 Grit shares).
The Notification of Dealing Form provided in accordance with the requirements of the MAR in relation to the transaction listed above is set out below.
1. | Details of PDMR / PCA | |||||||
a) | Name of PDMR | BA Corbett | ||||||
b) | Name of PCA | Copapax Proprietary Limited and Freedom Asset Management Limited | ||||||
c) | Relationship of PDMR to Copapax | BA Corbett is a shareholder and director of the PCA | ||||||
d) | Relationship of PDMR to Freedom | BA Corbett is a shareholder and director of the PCA | ||||||
2. | Reason for the notification | |||||||
a) | Position / status | Chief Executive Officer of the Company | ||||||
b) | Initial notification / amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Grit Real Estate Income Group Limited | ||||||
b) | LEI | 21380084LCGHJRS8CN05 | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a) | Description of the Financial instrument, type of instrument
Identification code | Ordinary shares of No Par Value
MU0473N00036 | ||||||
b) | Nature of the transaction | Transfer of shares (off-market) with no change in beneficial ownership | ||||||
c) | Deemed price (closing price on Monday, 30 December 2019) and volume |
| ||||||
d) | Aggregated information: • Aggregated volume • Volume weighted average price |
As above | ||||||
e) | Date of the transaction | Within 3 business days of receipt of regulatory approval | ||||||
f) | Place of the transaction | Johannesburg Stock Exchange, Main Market (JSE) | ||||||
g) | Nature and extent of interest in the transaction | Indirect, beneficial | ||||||
h) | Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the JSE Listings Requirements and Appendix 6 of the Listing Rules of the Stock Exchange of Mauritius Ltd. | |||||||
By Order of the Board
31 December 2019
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited | |
Bronwyn Corbett, Chief Executive Officer | +230 269 7090 |
Darren Veenhuis, Head of Investor Relations | +44 779 512 3402 |
Morne Reinders, Investor Relations | +27 82 480 4541 |
Maitland/AMO - Communications Adviser | |
James Benjamin | +44 20 7379 5151 |
Vikki Kosmalska | Grit-maitland@maitland.co.uk |
Jason Ochere | |
finnCap Ltd - UK Financial Adviser | |
William Marle / Scott Mathieson / Matthew Radley (Corporate Finance) | +44 20 7220 5000 |
Mark Whitfeld (Sales) | +44 20 3772 4697 |
Monica Tepes (Research) | +44 20 3772 4698 |
Perigeum Capital Ltd - SEM Authorised Representative and Sponsor | |
Shamin A. Sookia | +230 402 0894 |
Kesaven Moothoosamy | +230 402 0898 |
PSG Capital - JSE Sponsor and Corporate Adviser | |
David Tosi | +27 21 887 9602 |
The Company's LEI is: 21380084LCGHJRS8CN05
NOTES:
Grit Real Estate Income Group Limited is a 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 a net total shareholder return inclusive of NAV growth of 12.0%+ p.a.*
The Company currently holds primary listings on both the Main Market of the London Stock Exchange (LSE: GR1T) and on the Main Board of the Johannesburg Stock Exchange (JSE: GTR), while its listing on the Official Market of the Stock Exchange of Mauritius Ltd is termed as a secondary listing (SEM: DEL.N0000).
Further information on the Company is available at http://grit.group/
* This is a target only and not a profit forecast and there can be no assurance that it 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 Corbett (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, Ian Macleod+, Nomzamo Radebe, Catherine McIlraith+, David Love+, Sir Samuel Esson Jonah+ and Bright Laaka (Permanent Alternate Director to Nomzamo Radebe).
(* Executive Director) (+ independent Non-Executive Director)
Company secretary: Intercontinental Fund Services Limited
Registered office address: Level 5, Alexander House, 35 Cybercity, Ebène 72201, Mauritius
Transfer secretary (South Africa): Computershare Investor Services Proprietary Limited
Registrar and transfer agent (Mauritius): Intercontinental Secretarial Services Limited
JSE sponsor: PSG Capital Proprietary Limited
SEM authorised representative and sponsor: Perigeum Capital Ltd
This notice is issued pursuant to the JSE Listings Requirements, LSE Listing Rules, Article 19 of MAR, SEM Listing Rule 11.3 and the Mauritian Securities Act 2005. The Board accepts full responsibility for the accuracy of the information contained in this communiqué.