TIDMGR1T
RNS Number : 4071R
Grit Real Estate Income Group
08 March 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" )
BOARD APPOINTMENT
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 , advises its s hareholders that Mr Cross
Kgosidiile has been appointed as independent Non-Executive Director
to the board of Grit (the "Board") with effect from 5 March 2021.
He has also been appointed as a member of the Audit and Risk
Committees.
Mr Kgosidiile is the Managing Director of the Botswana
Development Corporation ("BDC"), the country's main agency for
commercial and industrial development, founded in 1970 with the
Government of Botswana as its sole shareholder.
He has over 20 years' experience in building high performance
businesses and teams, having served in a variety of leadership
roles, including at the Botswana Power Corporation (BPC), the Motor
Vehicle Accident (MVA) Fund and the national airline, Air Botswana.
Mr Kgosidiile has also worked as a business consultant where he
focused on property transactions. His expertise spans corporate
finance and business strategy, information technology, supply chain
management and business transformation.
He holds a Bachelor of Commerce in Accounting and a Master's
Degree in Business Administration, both from the University of
Botswana. He is a fellow member of the Chartered Institute of
Management Accountants (FCMA) and a fellow member of the Botswana
Institute of Chartered Accountants.
Mr Kgosidiile is currently Board Chairman of Mmila Fund
Administrators which administers the Debswana Pension Fund, Board
Member of Prime-Time Property Holdings Limited, a Council Member of
ABM university College and Trustee of Botswana Medical Aid Society.
Previously, he was Chairman of the Botswana Building Society and, a
board member of Botswana Railways, Stanbic Bank Botswana Limited,
MVA Fund and KYS Investments Limited.
BDC holds 14,839,510 ordinary shares of nil par value in the
Company and represents approximately 4.48% of the total issued
share capital of the Company.
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.
Peter Todd, Non-Executive Chairman of Grit, commented:
"The Board looks forward to welcoming Cross to the Board of Grit
and working closely with him. His depth of knowledge, wealth of
wide-ranging experience as well as relationships in the region will
make a significant contribution to the further growth of Grit and
delivering further value to our shareholders."
By order of the Board
8 March 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
finnCap Ltd - UK Financial Adviser & Broker
William Marle/Giles Rolls/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
NOTES
Grit Real Estate Income Group Limited is a 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 currently holds a primary listing on the premium
segment of the Main Market of the London Stock Exchange (LSE: GR1T)
and a secondary listing on the Official Market of the Stock
Exchange of Mauritius Ltd (SEM: DEL.N0000).
Further information on the Company is available at
http://grit.group/
* This is a target only and not a profit forecast and there
can be no assurance that it 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)*, Jonathan Crichton(+) , Sir Samuel Esson Jonah(+) ,
Nomzamo Radebe, Catherine McIlraith(+) , David Love(+) , Cross
Kgosidiile (+) and Bright Laaka (Permanent Alternate Director to
Nomzamo Radebe).
(* 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 Ltd
Sponsoring broker : Capital Markets Brokers Ltd
SEM authorised representative and sponsor : Perigeum Capital
Ltd
UK Transfer secretary : Link Assets Services Limited
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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END
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