REG-Grit Real Estate Income Group RESULTS OF THE ANNUAL GENERAL MEETING

Grit Real Estate IncomeAnnouncement

13/12/2024 12:45

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   Grit Real Estate Income Group (GR1T)
   RESULTS OF THE ANNUAL GENERAL MEETING

   13-Dec-2024 / 12:30 GMT/BST

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   GRIT REAL ESTATE INCOME GROUP LIMITED

   (Registered in Guernsey)

   (Registration number: 68739)

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

   ISIN: GG00BMDHST63

   LEI: 21380084LCGHJRS8CN05

   ("Grit" or the "Company" or 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 2:30
   p.m. Mauritian time (10:30 a.m. UK time) on Friday, 13 December 2024,  all
   resolutions were  passed.  The  detailed  results of  the  voting  are  as
   follows:

    

                    Votes for   Votes
                    resolution  against                 Number of  Number of
                    as a        resolution              shares     shares
                    percentage  as a                    voted at   abstained
                    of total    percentage              AGM as a   as a
   Resolutions      number of   of total    Number of   percentage percentage
   proposed at the  shares      number of   shares      of shares  of shares
   AGM              voted at    shares      voted at    in issue   in issue
                    AGM         voted at    AGM
                                AGM                     (rounded   (rounded
                    (rounded to                         to 2       to 2
                    2 decimal   (rounded to             decimal    decimal
                    places)*    2 decimal               places)*   places)*
                                places)*
   Ordinary
   Resolution
   Number 1 –
   Receiving and
   considering the
   auditors’ report
   and the            100.00%      0.00%    397,183,006   80.22%     0.67%
   Integrated
   Annual Report
   and the adoption
   of the audited
   annual financial
   statements
   Ordinary
   Resolution
   Number 2 –
   Appointment of
   MacIntyre Hudson   100.00%      0.00%    397,183,006   80.22%     0.67%
   LLP as the
   statutory
   auditors of the
   Company
   Ordinary
   Resolution
   Number 3 –
   Re-election of     96.29%       3.71%    397,102,335   80.21%     0.68%
   Peter Todd as a
   Director of the
   Company
   Ordinary
   Resolution
   Number 4 –
   Re-election of
   Bronwyn Corbett    96.29%       3.71%    397,183,006   80.22%     0.67%
   as a Director of
   the Company

    
   Ordinary
   Resolution
   Number 5 –
   Re-election of
   Gareth Schnehage   100.00%      0.00%    397,102,335   80.21%     0.68%
   as a Director of
   the

   Company
   Ordinary
   Resolution
   Number 6 –
   Re-election of     99.98%       0.02%    397,180,883   80.22%     0.67%
   David Love as a
   Director of the
   Company
   Ordinary
   Resolution
   Number 7 –
   Re-election of     100.00%      0.00%    397,180,883   80.22%     0.67%
   Catherine
   McIlraith as a
   Director of the
   Company
   Ordinary
   Resolution
   Number 8 –
   Re-election of     100.00%      0.00%    397,180,883   80.22%     0.67%
   Cross Kgosidiile
   as a Director of
   the Company
   Ordinary
   Resolution
   Number 9 –
   Re-election of     100.00%      0.00%    397,180,883   80.22%     0.67%
   Lynette Finlay
   as a Director of
   the Company
   Ordinary
   Resolution
   Number 10 –
   Election of        100.00%      0.00%    397,183,006   80.22%     0.67%
   Nigel Nunoo as a
   Director of the
   Company
   Ordinary
   Resolution
   Number 11 –        89.09%      10.91%    397,183,006   80.22%     0.67%
   Approval to
   grant awards
   under the LTIP
   Ordinary
   Resolution
   Number 12 –        69.68%      30.32%    397,183,006   80.22%     0.67%
   Remuneration
   Policy
   Ordinary
   Resolution
   Number 13 –
   Non-binding
   advisory vote on   70.27%      29.73%    397,183,006   80.22%     0.67%
   Grit’s
   implementation
   report on the
   remuneration
   policy
   Ordinary
   Resolution
   Number 14 –        95.69%       4.31%    397,183,006   80.22%     0.67%
   Market Purchase
   of Own Shares /
   Share buy back
   Special
   Resolution
   Number 1 –
   Authority to       95.66%       4.34%    397,183,006   80.22%     0.67%
   issue shares for
   cash on a
   non-pre-emptive
   basis
   Special
   Resolution
   Number 2 –
   Authority to
   sell shares from   99.37%       0.63%    397,183,006   80.22%     0.67%
   treasury for
   cash on a
   non-preemptive
   basis

    

    *    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.

    

   Engagement with Dissenting Shareholders

    

   Shareholders are further advised that, whilst ordinary resolutions  number
   12 and 13, relating  to the remuneration  policy and non-binding  advisory
   vote on  Grit’s implementation  report on  the remuneration  policy,  were
   supported by the majority of shareholders, the Company does recognise that
   they were each  voted against by  30.32% and 29.73%  respectively, 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  Wednesday, 22  January
   2025 at 2 p.m. Mauritian time (10 a.m. UK time) via a telephone conference
   to  further   understand  their   position  and   perspectives  on   these
   resolutions.

    

   All shareholders are asked to  confirm their participation to the  company
   secretary by e-mail at  1 Grit@intercontinentaltrust.com by no later  than
   close of business on Wednesday, 15 January 2025, 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 Wednesday, 15 January 2025.

    

   An update on the views received  from shareholders and actions taken  will
   be published  no  later  than  six  months  after  the  meeting  with  the
   dissenting shareholders.

    

   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 the link below:

    2 https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    

   By Order of the Board

    

   13 December 2024

    

   FOR FURTHER INFORMATION, PLEASE CONTACT:

   Grit Real Estate Income Group Limited                      
   Bronwyn Corbett, Chief Executive Officer                  +230 269 7090
   Group Investor Relations                                  ir@grit.group
                                                              
   Cavendish Capital Markets Limited - UK Financial Adviser   
   James King / Tunga Chigovanyika / Teddy Whiley (Corporate +44 20 7220 5000
   Finance)
   Justin Zawoda-Martin / Daniel Balabanoff / Pauline        +44 20 3772 4697
   Tribe (Sales)
                                                              
   Perigeum Capital Ltd - SEM Authorised Representative and   
   Sponsor
   Shamin A. Sookia                                          +230 402 0894

   Darren Chinasamy                                          +230 402 0885
                                                              
                                                              
   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  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 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 www.grit.group

   Directors: Peter Todd (Chairman), Bronwyn Corbett (Chief Executive
   Officer) *, Gareth Schnehage (Chief Financial Officer) *, David
   Love+, Catherine McIlraith+, Cross Kgosidiile, Lynette Finlay+ and Nigel
   Nunoo+.

   (* Executive Director) (+ independent Non-Executive Director)

   Company secretary: Intercontinental Fund Services Limited

   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 authorised representative and sponsor: Perigeum Capital Ltd

   UK Transfer secretary: Link Assets Services Limited

   Mauritian Sponsoring Broker: Capital Markets Brokers Ltd

   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.

    

    

    

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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: RAG
   TIDM:          GR1T
   LEI Code:      21380084LCGHJRS8CN05
   Sequence No.:  365179
   EQS News ID:   2051163


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:Grit@intercontinentaltrust.com
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=1e84eb6c3310c93f7fb161c09372521b&application_id=2051163&site_id=refinitiv~~~790ea929-3c21-49b8-8ff9-1aed464daef1&application_name=news


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