GRIT REAL ESTATE INCOME GROUP LIMITED - Publication Of Prospectus,Placing And Offer For Subscription And Admission To The Official List Of The London Stock

Release Date: 18/07/2018 14:10
Code(s): GTR
 
Wrap Text
Publication Of Prospectus,Placing And Offer For Subscription And Admission To The Official List Of The London Stock

GRIT REAL ESTATE INCOME GROUP LIMITED
(previously known as Mara Delta Property Holdings Limited)
(Registered by continuation in the Republic of Mauritius)
(Registration number: C128881 C1/GBL)
SEM share code: DEL.N0000
JSE share code: GTR
ISIN: MU0473N00036
(“Grit” or “the Company”)


   PUBLICATION OF PROSPECTUS, PLACING AND OFFER FOR SUBSCRIPTION AND ADMISSION TO THE
                     OFFICIAL LIST OF THE LONDON STOCK EXCHANGE

Grit Real Estate Income Group Limited, the African focused real estate income group, has today published a
prospectus (the "Prospectus") in connection with the allotment, issue and admission to trading of up to 200 million
ordinary shares of no par value each (“Ordinary Shares”) at an issue price of US$1.43 per share (“Issue Shares”)
(the Directors of the Company have reserved the right, in conjunction with the Joint UK Placing Agents, to increase
the size of the issue to a maximum of 250 million Ordinary Shares if overall demand exceeds 200 million Ordinary
Shares) and 214,022,425 existing Ordinary Shares (“Existing Shares”). The Issue Shares and the Existing Shares
will be admitted to a standard listing on the Official List of the London Stock Exchange (“LSE”).

The Issue Shares represent the shares to be issued pursuant to the Initial Placing and Offer for Subscription
announced by the Company today, details of which can be found in the Prospectus.

The Offer for Subscription is being made in the UK only. Investors in South Africa and Mauritius may participate in the
Initial Placing only.

Admission to listing on the Official List of the London Stock Exchange of the Issue Shares and of the Existing Shares
is expected to take place at 8.00 a.m. UK time (11.00 a.m. Mauritius time) on 31 July 2018. The Issue Shares will also
be listed on the Official Market of the Stock Exchange of Mauritius Ltd (“SEM”) and the Main Board of the JSE Limited
(“JSE”) on the same day.

The Prospectus has been approved by the UK Listing Authority. A copy of the Prospectus is available from the
Company’s website at www.grit.group/ and a copy has been submitted to the UK National Storage Mechanism and
will shortly be available for inspection at: http://www.hemscott.com/nsm.do. In addition, the contents of the Prospectus
have been noted by the JSE.

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

The Board of Directors of Grit is pleased to announce that the Listing Executive Committee of the Stock Exchange of
Mauritius Ltd (“SEM”) has approved, on 18 July 2018:-

    -   the listing of the Issue Shares on the Official Market of the SEM in terms of the Initial Placing and Offer for
        Subscription, i.e. up to 200 million Ordinary Shares at an issue price of US$1.43 per share (or up to 250
        million in the event of over subscription) ; and

    -   the listing of the Placing Programme Shares on the Official Market of the SEM in terms of the Placing
        Programme, i.e. up to 100 million Ordinary Shares at an issue price not less than the most recently published
        Net Asset Value per Share at the time of the relevant Subsequent Placing.

As required by the SEM Rules, the Prospectus, which also serves as Listing Particulars pursuant to the SEM Rules,
will be made available for inspection for at least 14 days, during normal office hours (from 9 a.m. to 5 p.m. Mauritian
time) 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 from 18 July 2018.

SECONDARY LISTING ON THE SEM

As highlighted in the announcement released to the market on 9 April 2018, as from 31 July 2018, i.e. as from the
date of listing on the LSE, Grit will have primary listings on the Main Board of the JSE and on the Official List of the
LSE (as a Standard Listing), while the primary listing of Grit on the Official Market of the SEM will be termed as a
secondary listing.
WAIVER OF REQUIREMENT TO PUBLISH INTERIM (QUARTERLY) REPORTS

As announced to the market on 14 June 2018, the relevant authorities in Mauritius have granted a waiver to the
Company from the requirement to file and publish interim (quarterly) reports (as required under the Mauritian
Securities Act 2005 and the SEM Rules), following the primary listing of the Company on the LSE. Accordingly, Grit
will henceforth be filing and publishing interim (half-yearly) reports within the reporting deadlines pursuant to the
relevant provisions of the Mauritian Securities Act 2005 and the SEM Rules, which also comply with the JSE Listings
Requirements and the LSE Listing Rules.

The definitions set out in the Prospectus have, where appropriate, been used in this announcement.

Grit has its primary listings on both the Official Market of the Stock Exchange of Mauritius Ltd and the Main Board of
the JSE Limited.

By order of the Board

18 July 2018

Sponsor and placing agent in South Africa: PSG Capital
SEM authorised representative, sponsor and Mauritian transaction adviser: Perigeum Capital
                                                                    

Grit Real Estate Income Group Ltd
Bronwyn Corbett, Chief Executive Officer                                            +230 269 7090
Leon van de Moortele, Chief Financial Officer                                       +230 269 7090

finnCap Ltd
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

Citigate Dewe Rogerson
Jos Bieneman                                                                        +44 30 7282 1053

Perigeum Capital Ltd
Shamin A. Sookia                                                                    +230 402 0894
Kesaven Moothoosamy                                                                 +230 402 0898

PSG Capital
David Tosi                                                                          +27 21 887 9602

Directors: Peter Todd+ (Chairman), Bronwyn Corbett (Chief Executive Officer)*, Leon van de Moortele (Chief
Financial Officer)*, Ian Macleod+, Paul Huberman+, Faith Matshepo More, Nomzamo Radebe and Catherine McIlraith+
(* executive director) (+ independent non-executive director)
Company secretary: Intercontinental Fund Services Limited
Registered address: 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
Corporate advisor and JSE sponsor: PSG Capital Proprietary Limited
Sponsoring Broker: Axys Stockbroking Limited
SEM authorised representative and sponsor: Perigeum Capital Ltd

––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
This notice is issued pursuant to the LSE Listing Rules, the JSE Listings Requirements, SEM Listing Rule 11.3 and
Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The board of directors of the
Company accepts full responsibility for the accuracy of the information contained in this communiqué.

Date: 18/07/2018 02:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story