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Grit Real Estate Inc - Director/PDMR Shareholding

Grit Real Estate Income

21/12/2021 06:59

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RNS Number : 2405W Grit Real Estate Income Group 21 December 2021

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")

DEALING IN SECURITIES BY PERSON CLOSELY ASSOCIATED WITH DIRECTOR/PERSON
DISCHARGING MANAGERIAL RESPONSIBILITIES

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 of the following dealings by Directors and Persons
Discharging Managerial Responsibilities ("PDMRs") as part of the Open Offer
and Placing which closed on Thursday, 16 December 2021. All dealings have
taken place at the Open Offer and Placing price of USD0.52 per share and are
in respect of new ordinary shares of no par value ("New Ordinary Shares").

In addition, the GRIT Executive Share Trust ("Trust") acquired a further
5,588,462 New Ordinary Shares in the Open Offer and Placing, which increased
the Trust's shareholding in the Company to 8,193,462 ordinary shares of no par
value, representing 1.72% per cent. of the enlarged issued share capital of
the Company. These New Ordinary Shares are intended to be used to satisfy
future awards under the Company's Long Term Incentive Plan ("LTIP"). Where
such awards are made to Directors and/or PDMRs a further announcement will be
made.

The Notification of Transaction Forms provided in accordance with the
requirements of the MAR in relation to the transactions mentioned above are
set out below.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name of PDMR Mr Jonathan Crichton
b. Name of PCA N/A
c. Relationship of PDMR to PCA N/A
2 Reason for notification

a. Position/Status Independent Non-Executive Director
b. Initial notification/ Initial Notification

Amendment
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 Ordinary shares of No Par Value

Identification Code

GG00BMDHST63
b. Nature of the transaction Purchase of shares under the Open Offer and Placing
c. Price(s) and volume(s) Price(s) Volume(s) Total
USD0.52 20,000 USD10,400
d. Aggregated information

- Aggregated Volume Single transaction

- Price As mentioned above
e. Date of the transaction 21 December 2021
f. Place of the transaction Off market transaction
5 Share ownership immediately post
New share ownership 200,000 shares (0.04% of issued share capital)

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name of PDMR Ms. Bronwyn Knight
b. Name of PCA N/A
c. Relationship of PDMR to PCA N/A
2 Reason for notification

a. Position/Status Chief Executive Officer
b. Initial notification/ Initial Notification

Identification Code

GG00BMDHST63
b. Nature of the transaction Purchase of shares under the Open Offer and Placing
c. Price(s) and volume(s) Price(s) Volume(s) Total
USD0.52 576,923 USD300,000
d. Aggregated information

- Aggregated Volume Single transaction

- Price As mentioned above
e. Date of the transaction 21 December 2021

f. Place of the transaction Off market transaction
5 Share ownership immediately post
New share ownership 7,331,655 shares (1.54% of issued share capital)

b. Name of PCA Cuckoos Nest Trust
c. Relationship of PDMR to PCA Settlor and Beneficiary
2 Reason for notification

a. Position/Status Chief Financial Officer
b. Initial notification/ Initial Notification

Identification Code

GG00BMDHST63
b. Nature of the transaction Purchase of shares under the Open Offer and Placing
c. Price(s) and volume(s) Price(s) Volume(s) Total
USD0.52 384,615 USD200,000
d. Aggregated information

- Aggregated Volume Single transaction

- Price As mentioned above
e. Date of the transaction 21 December 2021

f. Place of the transaction Off market transaction
5 Share ownership immediately post
New share ownership 2,557,349 shares (0.54% of issued share capital)

b. Name of PCA N/A
c. Relationship of PDMR to PCA N/A
2 Reason for notification

a. Position/Status Chief Operating Officer
b. Initial notification/ Initial Notification

Identification Code

GG00BMDHST63
b. Nature of the transaction Purchase of shares under the Open Offer and Placing
c. Price(s) and volume(s) Price(s) Volume(s) Total
USD0.52 192,307 USD100,000
d. Aggregated information

- Aggregated Volume Single transaction

- Price As mentioned above
e. Date of the transaction 21 December 2021

f. Place of the transaction Off market transaction
5 Share ownership
New share ownership 237,307 shares (0.05% of issued share capital)

b. Name of PCA N/A
c. Relationship of PDMR to PCA N/A
2 Reason for notification

a. Position/Status Head of Investment
b. Initial notification/ Initial Notification

Identification Code

GG00BMDHST63
b. Nature of the transaction Purchase of shares under the Open Offer and Placing
c. Price(s) and volume(s) Price(s) Volume(s) Total
USD0.52 192,307 USD100,000
d. Aggregated information

- Aggregated Volume Single transaction

- Price As mentioned above
e. Date of the transaction 21 December 2021

f. Place of the transaction Off market transaction
5 Share ownership
New share ownership 192,307 shares (0.04% of issued share capital)

b. Name of PCA N/A
c. Relationship of PDMR to PCA N/A
2 Reason for notification

a. Position/Status Head of Treasury
b. Initial notification/ Initial Notification

Identification Code

GG00BMDHST63
b. Nature of the transaction Purchase of shares under the Open Offer and Placing
c. Price(s) and volume(s) Price(s) Volume(s) Total
USD0.52 200,624 104,324
d. Aggregated information

- Aggregated Volume Single transaction

- Price As mentioned above
e. Date of the transaction 21 December 2021

f. Place of the transaction Off market transaction
5 Share ownership
New share ownership 207,017 shares (0.04% of issued share capital)

b. Name of PCA N/A
c. Relationship of PDMR to PCA N/A
2 Reason for notification

a. Position/Status Head of Real Estate
b. Initial notification/ Initial Notification

Identification Code

GG00BMDHST63
b. Nature of the transaction Purchase of shares under the Open Offer and Placing
c. Price(s) and volume(s) Price(s) Volume(s) Total
USD0.52 230,769 USD120,000
d. Aggregated information

- Aggregated Volume Single transaction

- Price As mentioned above
e. Date of the transaction 21 December 2021

f. Place of the transaction Off market transaction
5 Share ownership
New share ownership 230,769 shares (0.05% of issued share capital)

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name of PDMR Darren Veenhuis
b. Name of PCA Noble Tree Capital Partners Ltd
c. Relationship of PDMR to PCA Director and Shareholder
2 Reason for notification

a. Position/Status Chief Strategy Officer
b. Initial notification/ Initial Notification

Identification Code

GG00BMDHST63
b. Nature of the transaction Purchase of shares under the Open Offer and Placing
c. Price(s) and volume(s) Price(s) Volume(s) Total
USD0.52 1,834,359 953,867
d. Aggregated information

- Aggregated Volume Single transaction

- Price As mentioned above
e. Date of the transaction 21 December 2021

f. Place of the transaction Off market transaction
5 Share ownership
New number of shares 1,834,359 shares (0.38% of issued share capital)

By Order of the Board

21 December 2021

FOR FURTHER INFORMATION, PLEASE CONTACT:

Grit Real Estate Income Group Limited
Bronwyn Knight, Chief Executive Officer +230 269 7090
Darren Veenhuis, Chief Strategy Officer and Investor Relations +44 779 512 3402

Maitland/AMO - Communications Adviser
James Benjamin +44 7747 113 930
Grit-maitland@maitland.co.uk (mailto:Grit-maitland@maitland.co.uk)

finnCap Ltd - UK Financial Adviser
William Marle / Teddy Whiley (Corporate Finance) +44 20 7220 5000
Mark Whitfeld / Pauline Tribe (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

Capital Markets Brokers Ltd - Mauritian Sponsoring Broker
Neetusha Aubeeluck +230 402 0285

NOTES:

Grit Real Estate Income Group Limited is the 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 net total shareholder return inclusive of NAV growth of 12.0%+ p.a.*

The Company holds its primary listing on the Main Market of the London Stock
Exchange (LSE: GR1T and a secondary listing on the Stock Exchange of Mauritius
(SEM: DEL.N0000).

Further information on the Company is available at http://grit.group/
(http://grit.group/)

* These are targets only and not a profit forecast and there can be no
assurance that they 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 Knight (Chief Executive Officer)*,
Leon van de Moortele (Chief Financial Officer)*, David Love+, Sir Samuel Esson
Jonah+, Nomzamo Radebe, Catherine McIlraith+, Jonathan Crichton+, Cross
Kgosidiile+ and Bright Laaka+ (Permanent Alternate Director to Nomzamo
Radebe).

(* 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 Asset Services Limited

SEM authorised representative and sponsor: Perigeum Capital Ltd

This notice is issued pursuant to the FCA Listing Rules, Article 19 of MAR and
SEM Listing Rule 11.3 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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. END DSHBSBDDUDDDGBG

GR1T — Grit Real Estate Income News Story

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