| 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 (rounded to 2 decimal places)* | Votes against resolution as a percentage of total number of shares voted at AGM (rounded to 2 decimal places)* | Number of shares voted at AGM | Number of shares voted at AGM as a percentage of shares in issue (rounded to 2 decimal places)* | Number of shares abstained as a percentage of shares in issue (rounded to 2 decimal places)* |
| Ordinary resolution number 1: Receiving and considering the auditors' report and the Integrated Annual Report and the adoption of the audited annual financial statements
| 100.00% | 0.00% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 2: Appointment of PricewaterhouseCoopers LLP as the statutory auditors of the Company
| 100.00% | 0.00% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 3: Re-election of Peter McAllister Todd as Director of the Company
| 99.93% | 0.07% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 4: Re-election of Bronwyn Anne Knight as Director of the Company
| 99.93% | 0.07% | 401,940,391 | 81.18% | 0.24% |
| Ordinary resolution number 5: Re-election of Leon Paul van de Moortele as Director of the Company
| 99.93% | 0.07% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 6: Re-election of Nomzamo Radebe as Director of the Company
| 99.93% | 0.07% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 7: Re-election of Catherine McIlraith as Director of the Company
| 91.73% | 8.27% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 8: Re-election of David Arthur Love as Director of the Company
| 99.93% | 0.07% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 9: Re-election of Samuel Esson Jonah as Director of the Company
| 91.73% | 8.27% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 10: Re-election of Jonathan H.K. Crichton as Director of the Company
| 99.93% | 0.07% | 403,054,385 | 81.41% | 0.02% |
| Ordinary resolution number 11: Re-election of Cross Kgosidiile as Director of the Company
| 91.14% | 8.86% | 403,147,314 | 81.43% | 0.00% |
| Ordinary resolution number 12: Non-binding advisory vote on Grit's implementation report on the remuneration policy
| 70.22% | 29.78% | 403,147,314 | 81.43% | 0.00% |
| Special resolution number 1: Market Purchase of Own Shares/Share buy back | 99.99% | 0.01% | 403,147,314 | 81.43% | 0.00% |
* 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 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.
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/
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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