Last checked at 17 Jun 2021 13:25
GRIT REAL ESTATE INCOME GROUP LIMITED
(Registered in Guernsey)
(Registration number: 68739)
LSE share code: GR1T
SEM share code: DEL.N0000
ISIN: GG00BMDHST63
LEI: 21380084LCGHJRS8CN05
("Grit" or the "Company" and, together with its subsidiaries, the "Group")
RESULTS OF THE GENERAL MEETING
The board of Directors of Grit Real Estate Income Group Limited (the "Board") is pleased to announce that at the general meeting of the Company ("GM") held at 1 p.m. Mauritian time (10 a.m. UK time) today, Thursday, 17 June 2021, at 3rd Floor, La Croisette Shopping Centre, Grand Baie, Mauritius, all resolutions were passed by the Company's shareholders. The detailed results of the voting, are as follows:
Resolutions proposed at the GM | Votes in favour resolution as a percentage of total number of shares voted at GM (rounded to 2 decimal place)* | Votes against resolution as a percentage of total number of shares voted at GM (rounded to 2 decimal place)* | Number of shares voted at GM | Number of shares voted at GM as a percentage of shares in issue (rounded to 2 decimal place)* | Number of shares abstained as a percentage of shares in issue (rounded to 2 decimal place)* |
Ordinary resolution number 1: Receiving and considering the auditors' reports and the Integrated Annual Report and the adoption of the audited financial statements
| 100% | Nil | 235,673,596 | 71.15% | Nil |
Ordinary resolution number 2: Appointment of PricewaterhouseCoopers LLP as statutory auditors of the Company
| 100% | Nil | 235,669,379 | 71.15% | Nil |
Ordinary resolution number 3: Authorisation to the directors to fix the remuneration of PricewaterhouseCoopers LLP as statutory auditors of the Company
| 100% | Nil | 235,669,369 | 71.15% | Nil |
Ordinary resolution number 4: Appointment of Mr.Cross Kgosidiile as Director of the Company
| 100% | Nil | 235,673,596 | 71.15% | Nil |
Ordinary resolution number 5: Approval of the 2021 Long-Term Incentive Scheme
| 99.69% | Nil | 234,940,740 | 70.93% | 0.22% |
Ordinary resolution number 6: Authorisation to the directors to grant awards to eligible persons to subscribe for shares up to a total of 16,561,777 shares in aggregate, being 5% of the issued share capital of the Company
| 100% | Nil | 235,673,556 | 71.15% | Nil |
Ordinary resolution number 7: Approval of the amended Remuneration Policy
| 61.91% | 37.78% | 234,940,350 | 70.93% | 0.22% |
Special resolution number 8: Authorisation to directors to make market purchases of up to 49,652,208 of the ordinary shares issued by the Company
| 100% | Nil | 235,673,196 | 71.15% | Nil |
Special resolution number 9: Authorisation to directors to disapply pre-emptive rights on the issue of sale of ordinary shares
| 97.06% | 2.63% | 234,940,340 | 70.93% | 0.22% |
* Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).
A vote withheld is not a vote in law and it is not counted in the votes for and against resolutions.
Total number of shares with voting rights in issue as at the date of the GM was 331,235,546.
Shareholders are further advised that, as ordinary resolution number 7, relating to the non-binding advisory vote on the remuneration policy of the Company, were voted against by 20% or more of the votes exercised by the Company's shareholders present in person or represented by proxy at the GM, the executives of Grit will make themselves available to consult with such dissenting shareholders on Thursday, 1 July 2021 at 2 p.m. Mauritius time (11 a.m. UK time) via a telephone conference. All dissenting shareholders to confirm their participation to the company secretary by e-mail at Grit@intercontinentaltrust.com by no later than close of business on Monday, 28 June 2021, who will provide dial-in details for the telephone conference. Dissenting shareholders are further invited to forward their concerns/questions on the remuneration policy to the company secretary in writing by close of business on 28 June 2021.
In accordance with Listing Rule 9.6.2 of the UK Financial Conduct Authority ("FCA"), a copy of the resolutions passed at the GM 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
17 June 2021
FOR FURTHER INFORMATION PLEASE CONTACT:
Grit Real Estate Income Group Limited |
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Bronwyn Knight, Chief Executive Officer | IR@Grit.group |
Darren Veenhuis, Chief Strategy Officer |
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Maitland/AMO - Communications Adviser |
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James Benjamin | +44 7747 113 930 |
| Grit-maitland@maitland.co.uk |
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finnCap Ltd - UK Financial Adviser & Broker |
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William Marle / Giles Rolls / Teddy Whiley (Corporate Finance) | +44 20 7220 5000 |
Mark Whitfeld / Pauline Tribe (Sales) | +44 20 3772 4697 |
Monica Tepes (Research) | +44 20 3772 4698 |
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Perigeum Capital Ltd - SEM Authorised Representative and Sponsor |
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Shamin A. Sookia | +230 402 0894 |
Kesaven Moothoosamy | +230 402 0898 |
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 Dollar 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 net asset value growth of 12.0%+ per annum.*
The Company currently holds a primary listing on the Premium segment of the Main Market of the London Stock Exchange (LSE: GR1T)), and a secondary listing on the Official Market of the Stock Exchange of Mauritius Ltd (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:
Directors: Peter Todd+ (Chairman), Bronwyn Knight (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, Jonathan Crichton+, Sir Samuel Esson Jonah+, Nomzamo Radebe, Catherine McIlraith+, David Love+, Cross Kgosidiile+ and Bright Laaka (Permanent Alternate Director to Nomzamo Radebe).
(* Executive Director) (+ independent Non-Executive Director)
Company secretary: Intercontinental Fund Services Limited
Company secretary address: Level 5, Alexander House, 35 Cybercity, Ebene, 72201, Mauritius
Registered office 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
SEM Sponsoring broker: Capital Markets Brokers Ltd
SEM authorised representative and sponsor: Perigeum Capital Ltd
UK Transfer secretary: Link Assets Services Limited
This notice is issued pursuant to the FCA Listing Rules, SEM Listing Rule 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.