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GRIT REAL ESTATE INCOME GROUP LIMITED - Board Change

Release Date: 04/04/2019 14:15
Code(s): GTR     PDF:  
 
Wrap Text
Board Change

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”)

                                            BOARD CHANGE

The board of directors of Grit Real Estate Income Group Limited (the “Board”), have received
communication from the Public Investment Corporation (“PIC”) of South Africa requesting that Ms
Matshepo More be replaced as its nominee Non-Executive Director on the Board of Grit. Matshepo
More therefore ceases to be a member of the Board of directors of Grit with immediate effect. A new
representative will be nominated by the PIC in due course.

The PIC, who hold 27.6%, is Grit’s largest shareholder.

By way of background, the PIC is one of the largest and most successful investment managers in Africa
and wholly owned by the South African Government. As the largest investor on the Johannesburg Stock
Exchange, the PIC holds large stakes in several South African companies and has nominees on a
number of their respective boards.

By Order of the Board

4 April 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                                                                   Grit-maitland@maitland.co.uk
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 an annual dividend yield in USD of
8%+ and 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), with a
secondary listing on the Official Market of the Stock Exchange of Mauritius (SEM: DEL.N0000).

Further information on the Company is available at http://grit.group/

*These are targets only and not a profit forecast and there can be no assurance that they will be met.

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 Nomzano 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

Sponsoring broker: Axys Stockbroking Limited

SEM authorised representative and sponsor: Perigeum Capital Ltd

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

Date: 04/04/2019 02:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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