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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")
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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:
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Resolutions
proposed at the AGM
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Votes for
resolution as a percentage of total number of shares voted at
AGM
(rounded to 2
decimal places)*
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Votes against
resolution as a percentage of total number of shares voted at
AGM
(rounded to 2
decimal places)*
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Number of shares
voted at AGM
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Number of shares
voted at AGM as a percentage of shares in issue
(rounded to 2
decimal places)*
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Number of shares
abstained as a percentage of shares in issue
(rounded to 2
decimal places)*
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Ordinary Resolution Number 1 –
Receiving and considering the auditors’ report and the Integrated
Annual Report and the adoption of the audited annual financial
statements
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100.00%
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0.00%
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397,183,006
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80.22%
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0.67%
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Ordinary Resolution Number 2 –
Appointment of MacIntyre Hudson LLP as the statutory auditors of
the Company
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100.00%
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0.00%
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397,183,006
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80.22%
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0.67%
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Ordinary Resolution Number 3 –
Re-election of Peter Todd as a Director of the Company
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96.29%
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3.71%
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397,102,335
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80.21%
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0.68%
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Ordinary Resolution Number 4 –
Re-election of Bronwyn Corbett as a Director of the
Company
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96.29%
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3.71%
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397,183,006
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80.22%
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0.67%
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Ordinary Resolution Number 5 –
Re-election of Gareth Schnehage as a Director of the
Company
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100.00%
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0.00%
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397,102,335
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80.21%
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0.68%
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Ordinary Resolution Number 6 –
Re-election of David Love as a Director of the Company
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99.98%
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0.02%
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397,180,883
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80.22%
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0.67%
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Ordinary Resolution Number 7 –
Re-election of Catherine McIlraith as a Director of the
Company
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100.00%
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0.00%
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397,180,883
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80.22%
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0.67%
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Ordinary Resolution Number 8 –
Re-election of Cross Kgosidiile as a Director of the
Company
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100.00%
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0.00%
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397,180,883
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80.22%
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0.67%
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Ordinary Resolution Number 9 –
Re-election of Lynette Finlay as a Director of the
Company
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100.00%
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0.00%
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397,180,883
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80.22%
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0.67%
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Ordinary Resolution Number 10 –
Election of Nigel Nunoo as a Director of the Company
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100.00%
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0.00%
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397,183,006
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80.22%
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0.67%
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Ordinary Resolution Number 11 –
Approval to grant awards under the LTIP
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89.09%
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10.91%
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397,183,006
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80.22%
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0.67%
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Ordinary Resolution Number 12 –
Remuneration Policy
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69.68%
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30.32%
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397,183,006
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80.22%
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0.67%
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Ordinary Resolution Number 13 –
Non-binding advisory vote on Grit’s implementation report on the
remuneration policy
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70.27%
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29.73%
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397,183,006
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80.22%
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0.67%
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Ordinary Resolution Number 14 –
Market Purchase of Own Shares / Share buy back
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95.69%
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4.31%
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397,183,006
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80.22%
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0.67%
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Special Resolution Number 1 –
Authority to issue shares for cash on a non-pre-emptive
basis
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95.66%
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4.34%
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397,183,006
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80.22%
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0.67%
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Special Resolution Number 2 –
Authority to sell shares from treasury for cash on a non-preemptive
basis
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99.37%
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0.63%
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397,183,006
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80.22%
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0.67%
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* 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 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:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
By Order of the Board
13 December 2024
FOR FURTHER
INFORMATION, PLEASE CONTACT:
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Grit Real Estate
Income Group Limited
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Bronwyn Corbett, Chief Executive
Officer
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+230 269 7090
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Group Investor Relations
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ir@grit.group
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Cavendish Capital
Markets Limited - UK Financial Adviser
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James King / Tunga Chigovanyika /
Teddy Whiley (Corporate Finance)
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+44 20 7220 5000
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Justin Zawoda-Martin
/ Daniel Balabanoff / Pauline
Tribe (Sales)
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+44 20 3772 4697
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Perigeum Capital
Ltd - SEM Authorised Representative and Sponsor
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Shamin A. Sookia
Darren Chinasamy
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+230 402 0894
+230 402 0885
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Capital Markets
Brokers Ltd - Mauritian Sponsoring
Broker
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Elodie Lan Hun Kuen
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+230 402 0280
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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.