Wrap Text
Dealings In Securities By Director/PDMR And Persons Closely Associated With Them
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”)
DEALINGS IN SECURITIES BY DIRECTOR/PDMR AND PERSONS CLOSELY ASSOCIATED WITH THEM
The board of directors (the "Board") of Grit Real Estate Income Group Limited, a leading pan-African real estate
company focused on investing in and actively managing a diversified portfolio of assets underpinned by
predominantly US$ and Euro denominated long-term leases with high quality multi-national tenants, has been
notified about share dealings and announces the awarding of Long Term Incentive (“LTI”) share awards to
Persons Discharging Managerial Responsibilities ("PDMRs") pursuant to the terms of the Company’s Long Term
Incentive Plan (“LTIP”).
The value of the LTI share awards will be calculated as the amount by which the price of the Company's ordinary
shares has increased above the grant price of US$89 cents per Grit ordinary share adjusted for dividends paid
and imputed interest between the grant date and the vesting date. The LTI share awards vest after a period of
5 years subject to the satisfaction of specific conditions, including performance criteria, as set out in the rules of
the LTIP and summarised in the Company’s 2019 annual report.
In addition, the Company has been notified that on 30 June 2020, Persons Closely Associated (“PCAs”) with
certain PDMRs of the Company, as outlined below, have subscribed for equity in Wahoo International Feeder
Company Limited (“WIFC”), which directly owns 50,623 Grit ordinary shares (the “Subscription”).
Following the Subscription, the PDMRs outlined below have seen their beneficial interests, directly and
indirectly, in the share capital of the Company increase to:
PDMR Number of Shares % of issued share capital
Bronwyn Corbett* 6,715,432 2.124%
Peter Todd 8,437 0.003%
Leon van de Moortele* 2,133,734 0.675%
*Includes unvested LTI share awards
The details of the LTI share award are as follows:
1. Details of PDMR / PCA
a) Name of PDMR Bronwyn Corbett
b) Name of PCA N/A
2. Reason for the notification
a) Position / status Chief Executive Officer of the Company
b) Initial notification / amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Grit Real Estate Income Group Limited
b) LEI 21380084LCGHJRS8CN05
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the Financial instrument, type of instrument LTI share awards
Identification code MU0473N00036
b) Nature of the transaction Grant of LTI share awards
c) Deemed price and volume
Grant price Number of
ordinary shares
US$89 cps 1,280,906
d) Aggregated information:
• Aggregated volume As above
• Volume weighted average price
e) Date of the transaction 29 June 2020
f) Place of the transaction Outside a trading venue (off-market)
g) Nature and extent of interest in the transaction Indirect, beneficial
h) Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the JSE Listings
Requirements and Appendix 6 of the Listing Rules of the Stock Exchange of Mauritius Ltd.
1. Details of PDMR / PCA
a) Name of PDMR Leon van de Moortele
b) Name of PCA N/A
2. Reason for the notification
a) Position / status Chief Financial Officer of the Company
b) Initial notification / amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Grit Real Estate Income Group Limited
b) LEI 21380084LCGHJRS8CN05
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the Financial instrument, type of instrument LTI share awards
Identification code MU0473N00036
b) Nature of the transaction Grant of LTI share awards
c) Deemed price and volume
Grant price Number of
ordinary shares
US$89 cps 924,897
d) Aggregated information:
• Aggregated volume As above
• Volume weighted average price
e) Date of the transaction 29 June 2020
f) Place of the transaction Outside a trading venue (off-market)
g) Nature and extent of interest in the transaction Indirect, beneficial
h) Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the JSE Listings
Requirements and Appendix 6 of the Listing Rules of the Stock Exchange of Mauritius Ltd (“SEM”).
1. Details of PDMR / PCA
a) Name of PDMR Moira Van Der Westhuizen
b) Name of PCA N/A
2. Reason for the notification
a) Position / status Chief Operating Officer of the Company
b) Initial notification / amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Grit Real Estate Income Group Limited
b) LEI 21380084LCGHJRS8CN05
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the Financial instrument, type of instrument LTI share awards
Identification code MU0473N00036
b) Nature of the transaction Grant of LTI share awards
c) Deemed price and volume
Grant price Number of
ordinary shares
US$89 cps 372,923
d) Aggregated information:
• Aggregated volume As above
• Volume weighted average price
e) Date of the transaction 29 June 2020
f) Place of the transaction Outside a trading venue (off-market)
g) Nature and extent of interest in the transaction Indirect, beneficial
h) Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the JSE Listings
Requirements and Appendix 6 of the Listing Rules of the SEM.
1. Details of PDMR / PCA
a) Name of PDMR Jacobus Van Zyl
b) Name of PCA N/A
2. Reason for the notification
a) Position / status Group Treasury Manager of the Company
b) Initial notification / amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Grit Real Estate Income Group Limited
b) LEI 21380084LCGHJRS8CN05
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the Financial instrument, type of instrument LTI share awards
Identification code MU0473N00036
b) Nature of the transaction Grant of LTI share awards
c) Deemed price and volume
Grant price Number of
ordinary shares
US$89 cps 287,329
d) Aggregated information:
• Aggregated volume As above
• Volume weighted average price
e) Date of the transaction 29June 2020
f) Place of the transaction Outside a trading venue (off-market)
g) Nature and extent of interest in the transaction Indirect, beneficial
h) Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the JSE Listings
Requirements and Appendix 6 of the Listing Rules of the SEM.
The details of the Subscription are as follows:
1. Details of PDMR / PCA
a) Name of PDMR Bronwyn Corbett
b) Name of PCA Kenzlex Trust
c) Relationship of PDMR to PCA Bronwyn Corbett is the settlor of Kenzlex Trust
2. Reason for the notification
a) Position / status Chief Executive Officer of the Company
b) Initial notification / amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Grit Real Estate Income Group Limited
b) LEI 21380084LCGHJRS8CN05
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the Financial instrument, type of Ordinary shares of No Par Value
instrument
Identification code MU0473N00036
b) Nature of the transaction Acquisition of beneficial ownership
c) Deemed Price(s) and volume(s)
Price Number of shares
US$73 cps 8,437
d) Aggregated information:
• Aggregated volume As above
• Volume weighted average price
e) Date of the transaction 30 June 2020
f) Place of the transaction Outside a trading venue (off-market)
g) Nature and extent of interest in the transaction Indirect, beneficial
h) Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the JSE Listings
Requirements and Appendix 6 of the Listing Rules of the SEM.
1. Details of PDMR / PCA
a) Name of PDMR Peter Todd
b) Name of PCA Sea View Trust
c) Relationship of PDMR to PCA Peter Todd is the settlor of the Sea View Trust
2. Reason for the notification
a) Position / status Chairman of the Company
b) Initial notification / amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Grit Real Estate Income Group Limited
b) LEI 21380084LCGHJRS8CN05
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the Financial instrument, type of Ordinary shares of No Par Value
instrument
Identification code MU0473N00036
b) Nature of the transaction Acquisition of beneficial ownership
c) Deemed Price(s) and volume(s)
Price Number of shares
US$73 cps 8,437
d) Aggregated information:
• Aggregated volume As above
• Volume weighted average price
e) Date of the transaction 30 June 2020
f) Place of the transaction Outside a trading venue (off-market)
g) Nature and extent of interest in the transaction Indirect, beneficial
h) Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the JSE Listings
Requirements and Appendix 6 of the Listing Rules of the SEM.
1. Details of PDMR / PCA
a) Name of PDMR Leon van de Moortele
b) Name of PCA Cuckoos Nest Trust
c) Relationship of PDMR to PCA Leon van de Moortele is the settlor of Cuckoos
Nest Trust
2. Reason for the notification
a) Position / status Chief Financial Officer of the Company
b) Initial notification / amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Grit Real Estate Income Group Limited
b) LEI 21380084LCGHJRS8CN05
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the Financial instrument, type of Ordinary shares of No Par Value
instrument
Identification code MU0473N00036
b) Nature of the transaction Acquisition of beneficial ownership
c) Deemed Price(s) and volume(s)
Price Number of shares
US$73 cps 8,437
d) Aggregated information:
• Aggregated volume As above
• Volume weighted average price
e) Date of the transaction 30 June 2020
f) Place of the transaction Outside a trading venue (off-market)
g) Nature and extent of interest in the transaction Indirect, beneficial
h) Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the JSE Listings
Requirements and Appendix 6 of the Listing Rules of the SEM.
y Order of the Board
30 June 2020
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited
Bronwyn Corbett, Chief Executive Officer +230 269 7090
Darren Veenhuis, Head of Investor Relations +44 779 512 3402
Morne Reinders, Investor Relations +27 82 480 4541
Maitland/AMO – Communications Adviser
James Benjamin +44 20 7379 5151
Grit-maitland@maitland.co.uk
finnCap Ltd – UK Financial Adviser
William Marle / Matthew Radley (Corporate Finance) +44 20 7220 5000
Mark Whitfeld (Sales) +44 20 3772 4697
Monica Tepes (Research) +44 20 3772 4698
Perigeum Capital Ltd – SEM Authorised Representative and Sponsor
Shamin A. Sookia +230 402 0894
Kesaven Moothoosamy +230 402 0898
PSG Capital – JSE Sponsor and Corporate Adviser
David Tosi +27 21 887 9602
The Company’s LEI is: 21380084LCGHJRS8CN05
NOTES:
Grit Real Estate Income Group Limited is a leading pan-African real estate company focused on investing in and
actively managing a diversified portfolio of assets in carefully selected African countries (excluding South Africa).
These high-quality assets are underpinned by predominantly US$ 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 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 SEM 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 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)*, 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 office 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
UK Transfer secretary: Link Asset Services
JSE sponsor: PSG Capital Proprietary Limited
SEM authorised representative and sponsor: Perigeum Capital Ltd
This notice is issued pursuant to the JSE Listings Requirements, LSE Listing Rules, Article 19 of MAR, 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: 30-06-2020 02:30:00
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.
Sharenet Sites 
