DJ Result of AGM
Grit Real Estate Income Group (GR1T)
Result of AGM
18-Dec-2023 / 13:38 GMT/BST
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GRIT REAL ESTATE INCOME GROUP LIMITED
(Registered in Guernsey)
(Registration number: 68739)
LSE share code: GR1T
SEM share code (dual currency trading): DEL.N0000 (USD) / DEL.C0000(MUR)
ISIN: GG00BMDHST63
LEI: 21380084LCGHJRS8CN05
("Grit" or the "Company" and, together with its subsidiaries, the "Group")
RESULTS OF THE ANNUAL GENERAL MEETING
The board of Directors (the "Board") of Grit is pleased to announce that at the annual general meeting of the Company ("AGM") held at 1:00 p.m. Mauritian time (9:00 a.m. UK time) on Monday, 18th December 2023, all resolutions were passed. The detailed results of the voting are as follows:
Votes for Votes against Number of shares Number of shares
resolution as a resolution as a voted at AGM as a abstained as a
percentage of total percentage of total Number of percentage of percentage of
Resolutions proposed at the number of shares number of shares shares shares in issue shares in issue
AGM voted at AGM voted at AGM voted at
AGM (rounded to 2 (rounded to 2
(rounded to 2 (rounded to 2 decimal decimal places)* decimal places)*
decimal places)* places)*
Ordinary Resolution Number 1 -
Receiving and considering the
auditors' report and the
100.00% 0.00% 416,579,539 84.14% 0.00%
Integrated Annual Report and
the adoption of the audited
annual financial statements
Ordinary Resolution Number 2 -
Appointment of
PricewaterhouseCoopers LLP as
the 100.00% 0.00% 416,581,539 84.14% 0.00%
statutory auditors of the
Company
Ordinary Resolution Number 3 -
Re-election of Peter Todd as a 99.99% 0.01% 415,431,086 83.91% 0.24%
Director of the Company
Ordinary Resolution Number 4 -
Re-election of Bronwyn Knight
as a Director of the 99.60% 0.40% 415,431,086 83.91% 0.24%
Company
Ordinary Resolution Number 5 -
Re-election of Catherine
McIlraith as a Director of the 99.99% 0.01% 415,431,086 83.91% 0.24%
Company
Ordinary Resolution Number 6 -
Re-election of David Love as a 99.99% 0.01% 415,431,086 83.91% 0.24%
Director of the Company
Ordinary Resolution Number 7 -
Re-election of Jonathan
Crichton as a Director of the 99.99% 0.01% 415,431,086 83.91% 0.24%
Company
Ordinary Resolution Number 8 -
Re-election of Cross 99.99% 0.01% 415,431,086 83.91% 0.24%
Kgosidiile as a Director of
the Company
Ordinary Resolution Number 9 -
Election of Lynette Finlay as 99.99% 0.01% 415,431,086 83.91% 0.24%
a Director of the Company
Ordinary Resolution Number 10
- Non-binding advisory vote on 71.40% 28.60% 416,510,039 84.13% 0.02%
Grit's implementation report
on the remuneration policy
Ordinary Resolution Number 11
- Authority to grant awards 96.16% 3.84% 403,479,970 81.50% 2.65%
under the LTIP
Special Resolution Number 1 -
Market Purchase of Own Shares 96.43% 3.57% 405,502,586 83.92% 0.22%
/ Share buy back
Special Resolution Number 2 -
Authority to issue shares for
cash on a non-pre-emptive 96.15% 3.85% 416,494,939 84.12% 0.02%
Basis
Special Resolution Number 3 -
Authority to sell shares from
treasury for cash on a 96.42% 3.57% 399,408,536 80.67% 3.47%
non-preemptive
Basis
* Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).
Total number of shares in issue as at the date of the AGM was 495,092,339.
Engagement with Dissenting Shareholders
Shareholders are further advised that, whilst ordinary resolution number 10, relating to the non-binding advisory vote on Grit's implementation report on the remuneration policy, was supported by the majority of shareholders, the Company does recognise that it was voted against by 28.60% of the votes exercised by the Company's shareholders present in person or represented by proxy at the AGM.
The executives of Grit have taken this on board and are committed to achieving a greater understanding of the underlying reasons that has seen some shareholders being unable to support this resolution. The executives of Grit will initiate a consultation with the Company's shareholders including dissenting shareholders on Wednesday, 17 January 2024 at 13.00 hours Mauritius time (09.00 hours UK time) via a telephone conference to further understand their position and perspectives on the resolution.
All shareholders are asked to confirm their participation to the company secretary by e-mail at Grit@intercontinentaltrust.com by no later than close of business on Wednesday 10 January 2024, who will provide dial-in details for the telephone conference. Shareholders are further invited to forward their concerns/questions on the remuneration policy to the company secretary in writing by close of business on Wednesday, 10 January 2024.
An update on the views received from shareholders and actions taken will be published no later than six months after the meeting with the dissenting shareholders.
In accordance with Listing Rules 9.6.2 and 9.6.3 of the UK Financial Conduct Authority ("FCA"), a copy of the resolutions passed at the AGM has been submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
By Order of the Board
18 December 2023
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited Bronwyn Knight, Chief Executive Officer +230 269 7090 Darren Veenhuis, Investor Relations +44 779 512 3402 Cavendish Capital Markets Limited - UK Financial Adviser William Marle/Teddy Whiley (Corporate Finance) +44 20 7220 5000 Pauline Tribe (Sales) +44 20 3772 4697 Perigeum Capital Ltd - SEM Authorised Representative and Sponsor Shamin A. Sookia +230 402 0894 Kesaven Moothoosamy +230 402 0898 Capital Markets Brokers Ltd - Mauritian Sponsoring Broker Elodie Lan Hun Kuen +230 402 0280
NOTES:
Grit Real Estate Income Group Limited is the leading pan-African woman led real estate company focused on investing in, developing and actively managing a diversified portfolio of assets in carefully selected African countries (excluding South Africa). These high-quality assets are underpinned by predominantly USUSD 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 holds its primary listing on the Main Market of the London Stock Exchange (LSE: GR1T and a dual currency trading secondary listing on the Stock Exchange of Mauritius (SEM: DEL.N0000 (USD) / DEL.C0000 (MUR)).
Further information on the Company is available at http://grit.group.
Directors: Peter Todd (Chairman), Bronwyn Knight (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, David Love+, Sir Samuel Esson Jonah+, Catherine McIlraith+, Jonathan Crichton+, Cross Kgosidiile and Lynette Finlay+.
(* Executive Director) (+ independent Non-Executive Director)
Company secretary: Intercontinental Fund Services Limited
Registered address: PO Box 186, Royal Chambers, St Julian's Avenue, St Peter Port, Guernsey GY1 4HP
Registrar and transfer agent (Mauritius): Intercontinental Secretarial Services Limited
UK Transfer secretary: Link Market Services Limited
SEM authorised representative and sponsor: Perigeum Capital Ltd
Mauritian sponsoring broker: Capital Markets Brokers Ltd
This notice is issued pursuant to the FCA Listing Rules, SEM Listing Rules 15.24 and the Mauritian Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the information contained in this communiqué.
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ISIN: GG00BMDHST63 Category Code: RAG TIDM: GR1T LEI Code: 21380084LCGHJRS8CN05 Sequence No.: 292683 EQS News ID: 1799241 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
December 18, 2023 08:38 ET (13:38 GMT)
