REG - Grit Real Estate Inc - Result of AGM

Grit Real Estate IncomeAnnouncement

30/11/2022 12:00

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RNS Number : 0946I  Grit Real Estate Income Group  30 November 2022

 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 ANNUAL GENERAL MEETING

 

 

The board of Directors (the "Board") of Grit is pleased to announce that at
the annual general meeting of the Company ("AGM") held at 1:00 p.m. Mauritian
time (9:00 a.m. UK time) on Wednesday, 30 November 2022, at 3rd Floor, La
Croisette Shopping Centre, Grand Baie, Mauritius, all resolutions were passed.
The detailed results of the voting are as follows:

 

 Resolutions proposed at the AGM                                                 Votes for resolution as a percentage of total number of shares voted at AGM  Votes against resolution as a percentage of total number of shares voted at  Number of shares voted at AGM  Number of shares voted at AGM as a percentage of shares in issue  Number of shares abstained as a percentage of shares in issue

                                                                            AGM

                                                                                 (rounded to 2 decimal places)*
                                                                                                           (rounded to 2 decimal places)*                                    (rounded to 2 decimal places)*
                                                                                                                                                              (rounded to 2 decimal places)*
 Ordinary resolution number 1:                                                   100.00%                                                                      0.00%                                                                        403,147,314                    81.43%                                                            0.00%

 Receiving and considering the auditors' report and the Integrated Annual
 Report and the adoption of the audited annual financial statements

 Ordinary resolution number 2:                                                   100.00%                                                                      0.00%                                                                        403,147,314                    81.43%                                                            0.00%

 Appointment of PricewaterhouseCoopers LLP as the statutory auditors of the
 Company

 Ordinary resolution number 3:                                                   99.93%                                                                       0.07%                                                                        403,147,314                    81.43%                                                            0.00%

 Re-election of Peter McAllister Todd as Director of the Company

 Ordinary resolution number 4:                                                   99.93%                                                                       0.07%                                                                        401,940,391                    81.18%                                                            0.24%

 Re-election of Bronwyn Anne Knight as Director of the Company

 Ordinary resolution number 5:                                                   99.93%                                                                       0.07%                                                                        403,147,314                    81.43%                                                            0.00%

 Re-election of Leon Paul van de Moortele as Director of the Company

 Ordinary resolution number 6:                                                   99.93%                                                                       0.07%                                                                        403,147,314                    81.43%                                                            0.00%

 Re-election of Nomzamo Radebe as Director of the Company

 Ordinary resolution number 7:                                                   91.73%                                                                       8.27%                                                                        403,147,314                    81.43%                                                            0.00%

 Re-election of Catherine McIlraith as Director of the Company

 Ordinary resolution number 8:                                                   99.93%                                                                       0.07%                                                                        403,147,314                    81.43%                                                            0.00%

 Re-election of David Arthur Love as Director of the Company

 Ordinary resolution number 9:                                                   91.73%                                                                       8.27%                                                                        403,147,314                    81.43%                                                            0.00%

 Re-election of Samuel Esson Jonah as Director of the Company

 Ordinary resolution number 10:                                                  99.93%                                                                       0.07%                                                                        403,054,385                    81.41%                                                            0.02%

 Re-election of Jonathan H.K. Crichton as Director of the Company

 Ordinary resolution number 11:                                                  91.14%                                                                       8.86%                                                                        403,147,314                    81.43%                                                            0.00%

 Re-election of Cross Kgosidiile as Director of the Company

 Ordinary resolution number 12:                                                  70.22%                                                                       29.78%                                                                       403,147,314                    81.43%                                                            0.00%

 Non-binding advisory vote on Grit's implementation report on the remuneration
 policy

 Special resolution number 1:                                                    99.99%                                                                       0.01%                                                                        403,147,314                    81.43%                                                            0.00%

 Market Purchase of Own Shares/Share buy back

 

 

*    Percentages are expressed as a proportion of the total votes cast
(which does not include votes withheld).

 

Total number of shares in issue as at the date of the AGM was 495,092,339.

 

Shareholders are further advised that, whilst ordinary resolution number 12,
relating to the non-binding advisory vote on the implementation of the
remuneration policy of the Company, was supported by the majority of
shareholders, the Company does recognise that it was voted against by 29.78%
of the votes exercised by the Company's shareholders present in person or
represented by proxy at the AGM.

 

The executives of Grit have taken this on board and are committed to achieving
a greater understanding of the underlying reasons that has seen some
shareholders being unable to support these resolutions. The executives of Grit
will initiate a consultation with the Company's shareholders including
dissenting shareholders on Monday, 5 December 2022 at 3.00 p.m. Mauritius time
(11.00 a.m. UK time) via a telephone conference to further understand their
position and perspectives on the resolutions.

 

All shareholders are asked to confirm their participation to the company
secretary by e-mail at Grit@intercontinentaltrust.com
(mailto:Grit@intercontinentaltrust.com) by no later than close of business on
Friday, 2 December 2022, who will provide dial-in details for the telephone
conference. Shareholders are further invited to forward their
concerns/questions on the remuneration policy to the company secretary in
writing by close of business on Friday, 2 December 2022.

 

In accordance with Listing Rules 9.6.2 and 9.6.3 of the UK Financial Conduct
Authority ("FCA"), a copy of the resolutions passed at the AGM 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
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

 

By Order of the Board

 

30 November 2022

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

 H/Advisors Maitland - Communications Advisor
 James Benjamin                                                    +44 7747 113 930 / +44 20 7379 5151
 Alistair de Kare-Silver                                           Grit-maitland@h-advisors.global

 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
 Elodie Lan Hun Kuen                                               +230 402 0280

 

NOTES:

Grit Real Estate Income Group Limited is the leading and award-winning
pan-African impact real estate company focused on investing in, developing 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 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/)

 

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

Mauritian sponsoring broker: Capital Markets Brokers Ltd

 

This notice is issued pursuant to the FCA Listing Rules and 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.

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