logo-loader
RNS
viewGrit Real Estate Income Group

Grit Real Estate Inc - SEM Approval- Issue & Listing of Additional Shares

RNS Number : 0872U
Grit Real Estate Income Group
20 November 2019
 

GRIT REAL ESTATE INCOME GROUP LIMITED

(Registered by continuation in the Republic of Mauritius)

(Registration number: C128881 C1/GBL)

LSE share code: GR1T

SEM share code: DEL.N0000

JSE share code: GTR

ISIN: MU0473N00036

("Grit" or the "Company")


 

 

SEM APPROVAL FOR THE ISSUE AND LISTING OF ADDITIONAL SHARES AND ISSUE OF LISTING PARTICULARS

 

 

The board of Directors of Grit (the "Board") is pleased to announce that the Listing Executive Committee of the Stock Exchange of Mauritius Ltd (the "SEM") has approved, on 20 November 2019:

·      the issue and listing of up to 50,000,000 additional Grit shares on the Official Market of the SEM for cash and/or for acquisition issues in terms of private placements, at an offer price to be decided by the Board; and

 

·      the issue and listing of 9,839,511 additional Grit shares on the Official Market of the SEM, by way of consideration issue, as settlement for the acquisition of 66,500,000 ordinary shares in the issued share capital of Letlole La Rona Limited ("LLR"), each indivisibly linked to one variable unsecured debenture of LLR ("Linked Units"), constituting 23.75% of the total Linked Units in the capital of LLR (the "Consideration Issue").

 

For further information relating to the LLR transaction, reference can be made to the announcement released by Grit on 20 November 2019.

 

Shareholders should note that whilst the Listing Executive Committee of the SEM has approved the aforementioned issue and listing of additional shares in terms of private placements and the Consideration Issue, each actual issue and listing of additional shares will still be subject to the applicable JSE Listings Requirements and the Listing Rules of the London Stock Exchange.

 

As required by the SEM Listing Rules, the Listing Particulars of the Company as approved by the SEM, will be made available for inspection for at least 14 days, during normal office hours at the registered office of the Company which is situated at c/o Intercontinental Fund Services Limited, Level 5, Alexander House, 35 Cybercity, Ebene 72201, Mauritius as from 20 November 2019. The Listing Particulars will also be available on the Company's website: http://grit.group/.

 

This announcement is not an invitation to the public to subscribe for shares in the Company and is provided for information purposes only.

 

By Order of the Board

 

20 November 2019

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Grit Real Estate Income Group Limited


Bronwyn Corbett, Chief Executive Officer

+230 269 7090

Darren Veenhuis, Head of Investor Relations      

+44 779 512 3402

Morne Reinders, Investor Relations

+27 82 480 4541



Maitland/AMO - Communications Adviser


James Benjamin

+44 20 7379 5151

Vikki Kosmalska

[email protected]

Jason Ochere




finnCap Ltd - UK Financial Adviser


William Marle / Scott Mathieson / Matthew Radley (Corporate Finance)

+44 20 7220 5000

Mark Whitfeld (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



PSG Capital - JSE Sponsor and Corporate Adviser


David Tosi

+27 21 887 9602

 

The Company's LEI is: 21380084LCGHJRS8CN05

 

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 a net total shareholder return inclusive of NAV growth of 12.0% p.a.*

 

The Company currently holds primary listings on both the Main Market of the London Stock Exchange (LSE: GR1T) and on the Main Board of the Johannesburg Stock Exchange (JSE: GTR), while its listing on the Official Market of the Stock Exchange of Mauritius Ltd is termed as a secondary listing (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 Corbett (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, Ian Macleod+, Nomzamo Radebe, Catherine McIlraith+, David Love+, Sir Samuel Esson Jonah+ and Bright Laaka (Permanent Alternate Director to Nomzamo Radebe).

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

 

Company secretary: Intercontinental Fund Services Limited

Registered address: c/o Intercontinental Fund Services Limited, Level 5, Alexander House, 35 Cybercity, Ebène 72201, Mauritius

Transfer secretary (South Africa): Computershare Investor Services Proprietary Limited

Registrar and transfer agent (Mauritius): Intercontinental Secretarial Services Limited

JSE sponsor: PSG Capital Proprietary Limited 

SEM authorised representative and sponsor: Perigeum Capital Ltd

 

This notice is issued pursuant to the LSE Listing Rules, JSE Listings Requirements, SEM Listing Rule 11.3 and the Mauritian Securities Act 2005. The board of directors of the Company accepts full responsibility for the accuracy of the information contained in this communiqué.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCBMBTTMBMTBFL

Quick facts: Grit Real Estate Income Group

Price: 0.995

Market: LSE
Market Cap: $304.02 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Performance demonstrates 'robustness' of Grit Real Estate Income's business...

Capital Network analyst Ed Stacey talks through Grit Real Estate Income Group Ltd's (LON:GRIT) trading update for the year to June 2019. He says the company's on track to deliver its targeted 12% total shareholder return for the year and an increased dividend.

on 27/6/19