REG-Grit Real Estate Income Group Board and Executive changes

Grit Real Estate IncomeAnnouncement

19/12/2023 07:15

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   Grit Real Estate Income Group (GR1T)
   Board and Executive changes

   19-Dec-2023 / 07:00 GMT/BST

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   GRIT REAL ESTATE INCOME GROUP LIMITED

   (Registered in Guernsey)

   (Registration number: 68739)

   LSE share code: GR1T
                                                                             
   SEM share code (dual currency trading): DEL.N0000 (USD) / DEL.C0000(MUR)

   ISIN: GG00BMDHST63

   LEI: 21380084LCGHJRS8CN05

   (“Grit” or the “Company” and, together with its subsidiaries, the
   "Group")

    

    

                          BOARD AND EXECUTIVE CHANGES

                                        

    

   The board of  Directors (the  "Board") of  Grit Real  Estate Income  Group
   Limited, a  leading  pan-African impact  real  estate company  focused  on
   investing in, developing and actively managing a diversified portfolio  of
   assets underpinned  by predominantly  US$ and  Euro denominated  long-term
   leases with high quality  multi-national tenants, today announces  changes
   to the Board.

    

   Sir Sam Jonah  reached retirement  age recently  and accordingly  withdrew
   himself from re-election  at the annual  general meeting, held  yesterday,
   and has stepped down from the Board today. The Board would like to express
   its gratitude to Sir Sam for his meaningful contribution to Grit over  the
   years and wishes him well for the future, and for his retirement.

    

   The Board is  pleased to  announce the appointment  of Mr  Nigel Nunoo  as
   independent Non-Executive Director with  effect from 19 December 2023.  He
   has also been appointed as a member of the Remuneration Committee. 

    

   Nigel is an experienced Global Senior  Executive with 20+ years of  tenure
   at Prudential Financial,  Inc. He is  known for successfully  establishing
   and expanding the company’s presence in  Africa. Nigel is a Fellow of  the
   Society of  Actuaries  (FSA)  and  a  Chartered  Financial  Analyst  (CFA)
   charter-holder who also  has an Executive  MBA. Nigel has  a proven  track
   record  of   driving  sustainable   growth  and   delivering   sustainable
   profitability in  diverse  global  markets, spanning  the  United  States,
   Europe, and Africa and is fluent in English and several African languages.

    

   Aside from the information set out  in the announcement above, no  further
   information is required to be disclosed pursuant to Listing Rule 9.6.13R.

    

   Other Executive changes:

   Leon van de Moortele,  Executive Director and  Chief Financial Officer  of
   the Grit  group, is  taking a  medical  leave of  absence. The  Board  are
   currently assessing the enlarged Group’s  shared services model (post  the
   acquisition of GREA and APDM) and will make an announcement on a temporary
   replacement in  due course.  The Group  has business  continuity plans  in
   place  to  ensure  the  smooth   continuation  of  operations  until   the
   announcement of a temporary replacement is made.  

   Peter Todd, Non-Executive Chairman of Grit, commented:

    

   “I would  like to  express my  gratitude  to Sir  Sam for  his  meaningful
   contribution to Grit over the  years and to wish  him well for the  future
   and for his retirement.

    

   The Board  is also  looking forward  to working  closely with  Nigel.  His
   extensive  expertise  in  global  markets  and  well-established   network
   throughout the region will be a great support for Grit’s continued  growth
   and enhancing of shareholder value.”

    

   By Order of the Board

    

   19 December 2023

    

   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
                                                              
   Cavendish Capital Markets Limited – UK Financial Adviser
                                                              
    
   William Marle/Teddy Whiley (Corporate Finance)            +44 20 7220 5000
   Pauline Tribe (Sales)                                     +44 20 3772 4697
                                                              
   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 pan-African woman led
   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 dual currency trading secondary listing on
   the Stock Exchange of Mauritius (SEM: DEL.N0000 (USD) / DEL.C0000 (MUR)).

    

   Further information on the Company is available at  1 http://grit.group.

   Directors:  Peter  Todd  (Chairman),   Bronwyn  Knight  (Chief   Executive
   Officer)*, Leon van de Moortele  (Chief Financial Officer)*, David  Love+,
   Catherine McIlraith+, Jonathan Crichton+,  Cross Kgosidiile, Nigel  Nunoo+
   and Lynette Finlay+.

   (* 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 Market 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, SEM Listing Rules
   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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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GG00BMDHST63
   Category Code: BOA
   TIDM:          GR1T
   LEI Code:      21380084LCGHJRS8CN05
   Sequence No.:  292688
   EQS News ID:   1799321


    
   End of Announcement EQS News Service

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