REG-Grit Real Estate Income Group Drive in Trading structure unwind and transaction in own shares

Grit Real Estate IncomeAnnouncement

04/06/2024 13:00

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   Grit Real Estate Income Group (GR1T)
   Drive in Trading structure unwind and transaction in own shares

   04-Jun-2024 / 13:00 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: DEL.N0000

   ISIN: GG00BMDHST63

   LEI: 21380084LCGHJRS8CN05

   ("Grit" or the "Company" and, together with its subsidiaries, the
   "Group")

     

    

        DRIVE IN TRADING STRUCTURE UNWIND AND TRANSACTION IN OWN SHARES

                                        

   The board  of Directors  (the "Board")  of Grit Real  Estate Income  Group
   Limited today  announces  the  conclusion  of  the  unwind  of  the  Drive
   in Trading (Pty) Ltd ("DiT") structure.

    

   The transaction is already fully provided for in Grit’s financial  results
   and is not expected to have any meaningful impact on the Company's  latest
   reported EPRA NRV.

    

   The Public Investment Corporation, on  behalf of the Government  Employees
   Pension Fund of South  Africa, has added its  entitlement of DiT  Security
   Shares to  its existing  holdings  in the  Company  while Grit  has  added
   9,000,000 Ordinary Shares at  a nominal  price of USD  $0.01 per share  to
   treasury. There is  no change to  the total number  of Ordinary Shares  in
   issue following the above transaction

    

   By Order of the Board

    

   4 June 2024

    

   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   
   James King /Teddy Whiley (Corporate Finance)              +44 20 7220 5000
   Justin Zawoda-Martin / Daniel Balabanoff/Pauline          +44 20 3772 4697
   Tribe (Sales)
                                                              
   Perigeum Capital Ltd - SEM Authorised Representative and   
   Sponsor
   Shamin A. Sookia                                          +230 402 0894
                                                              
                                                              
   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  impact
   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 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 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 www.grit.group

   Directors: Peter Todd (Chairman), Bronwyn Knight (Chief Executive Officer)
   *, Gareth Schnehage (Chief Financial Officer) *, David Love+, Catherine
   McIlraith+, Jonathan Crichton+, Cross Kgosidiile, Lynette Finlay + and
   Nigel Nunoo+.

   (* Executive Director) (+ independent Non-Executive Director)

   Company secretary: Intercontinental Fund Services Limited

   Registered office 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

   SEM authorised representative and sponsor: Perigeum Capital Ltd

   UK Transfer secretary: Link Assets Services Limited

   Mauritian Sponsoring Broker: Capital Markets Brokers Ltd

   This notice is issued pursuant to the FCA Listing Rules, SEM Listing  Rule
   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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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GG00BMDHST63
   Category Code: POS
   TIDM:          GR1T
   LEI Code:      21380084LCGHJRS8CN05
   Sequence No.:  325809
   EQS News ID:   1917767


    
   End of Announcement EQS News Service

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