Grit Real Estate Income Group, GG00BMDHST63

Grit Real Estate Income Group / GG00BMDHST63

16.02.2024 - 11:00:04

Results of General Meeting: Bora and Acacia Estate disposals

Grit Real Estate Income Group (GR1T)

16-Feb-2024 / 10:00 GMT/BST

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 GENERAL MEETING

The board of Directors of Grit Real Estate Income Group Limited (the "Board") is pleased to announce that at the general meeting of the Company (“GM”) held at Unity Building, The Precinct, M2 Junction, B11 Fond du Sac Road, Grand Baie at 1.00 p.m. (MUT) / 9.00 a.m. (GMT) today, Friday, 16 February 2024, all resolutions were passed by the Company’s shareholders. Bronwyn Knight, CEO of Grit, commented: “We are pleased to announce 93.87% support for the Bora and Acacia transactions, reaffirming the Board’s strategy of asset recycling at, or close to, book value and reinforces the Group’s audited net asset value at 30 June 2023. The resultant US$48.5 million GREA equity subscription will be used to reduce debt and applied towards development projects that are expected to meaningfully contribute to ESG impact, accelerated NAV growth and fee income generation to the Group, as is contemplated under the Grit 2.0 strategy.” The Public Investment Corporation of South Africa ("PIC") are a related party in relation to the transaction and did not vote their shares. Adjusting for this, the participation rate was 72.3%. The detailed results of the voting, are as follows:

Resolutions proposed at the GM	Votes in favour resolution as a percentage of total number of shares voted at GM (rounded to 2 decimal place)*	Votes against resolution as a percentage of total number of shares voted at GM (rounded to 2 decimal place)*	Number of shares voted at GM	Number of shares voted at GM as a percentage of shares in issue (rounded to 2 decimal place)*	Number of shares abstained as a percentage of shares in issue (rounded to 2 decimal place)*
Ordinary Resolution number 1: To approve the Bora Investment and authorise the Board to implement the Bora Investment	93.87%	0.00%	283,365,621	57.23%	3.74%
Ordinary Resolution Number 2: To approve the DH Disposal and authorise the Board to implement the DH Disposal	93.87%	0.00%	283,365,621	57.23%	3.74%

* Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld). Total number of shares with voting rights in issue as at the date of the GM was 495,092,339. In accordance with Listing Rule 9.6.2 of the UK Financial Conduct Authority ("FCA"), a copy of the resolutions passed at the GM 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. Terms not otherwise defined in this announcement have the meanings given to them in the Circular issued by Grit on 29 January 2024. By Order of the Board 16 February 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 0500
Justin Zawoda-Martin / Daniel Balabanoff / Pauline Tribe (Sales)	+44 20 3772 4697

Perigeum Capital Ltd – SEM Authorised Representative and Sponsor
Shamin A. Sookia	+230 402 0894
Darren Chinasamy	+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 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 http://grit.group. Directors: Peter Todd (Chairman), Bronwyn Knight (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, David Love+, Catherine McIlraith+, Jonathan Crichton+, Cross Kgosidiile, Nigel Nunoo+ 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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