GRIT REAL ESTATE INCOME GROUP LIMITED - SEM Approval for the Issue and Listing of Additional Shares and Issue of Listing Particulars

SEM Approval for the Issue and Listing of Additional Shares and Issue of Listing Particulars

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                                                                  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 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.

Date: 20/11/2019 02:30:00
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