viewGrit Real Estate Income Group

Grit Real Estate Inc - JSE delisting offer unconditional–JSE Offer Result

RNS Number : 0596U
Grit Real Estate Income Group
24 July 2020


(Registered by continuation in the Republic of Mauritius)

(Registration number: C128881 C1/GBL)

SEM share code: DEL.N0000

JSE share code: GTR

LSE share code: GR1T

ISIN: MU0473N00036

LEI: 21380084LCGHJRS8CN05

("Grit" or the "Company")







Shareholders of Grit ("Shareholders") are referred to the announcements released by the Company on 11 June 2020 and 10 July 2020 and the circular dated 11 June 2020 ("Circular") relating to, inter alia, the proposed delisting of the Company from the Main Board of the JSE Limited by means of an offer (the "Offer") by Botswana Development Corporation Limited and Zep-Re (PTA Reinsurance Company).


Shareholders are hereby advised that the maximum number of shares for which acceptances may have been received has not been exceeded and accordingly all the conditions precedent to the Offer have been fulfilled and the Offer has now become unconditional.


Accordingly, the settlement of the Offer will proceed in accordance with the timetable set out in the Cirular and Grit will delist from the Main Board of the JSE Limited with effect from Wednesday, 29 July 2020.


By order of the Board


24 July 2020



Grit Real Estate Income Group Limited


Bronwyn Corbett, Chief Executive Officer

+230 269 7090

Darren Veenhuis, Head of Investor Relations      

+44 779 512 3402



Maitland/AMO - Communications Adviser


James Benjamin

+44 20 7379 5151

Jason Ochere

[email protected]



finnCap Ltd - UK Financial Adviser


William Marle / 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



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 net asset value growth of 12.0% per annum.*


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/


*               These are targets only and are not a profit forecast, there can be no assurance that they will be met. Any forward-looking statements and the assumptions underlying such statements are the responsibility of the board of directors of the Company and have not been reviewed or reported on by the Company's external auditors.



Peter Todd+ (Chairman), Bronwyn Corbett (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, 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

UK Transfer secretary: Link Asset Services

Corporate advisor and 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 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.

Quick facts: Grit Real Estate Income Group

Price: -

Market: LSE
Market Cap: -

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