GRIT REAL ESTATE INCOME GROUP LIMITED
(Registered in Guernsey)
(Registration number: 68739)
LSE share code: GR1T
SEM share code: DEL.N0000
("Grit" or the "Company" and, together with its subsidiaries, the "Group")
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, advises its shareholders that Mr Cross Kgosidiile has been appointed as independent Non-Executive Director to the board of Grit (the "Board") with effect from 5 March 2021. He has also been appointed as a member of the Audit and Risk Committees.
Mr Kgosidiile is the Managing Director of the Botswana Development Corporation ("BDC"), the country's main agency for commercial and industrial development, founded in 1970 with the Government of Botswana as its sole shareholder.
He has over 20 years' experience in building high performance businesses and teams, having served in a variety of leadership roles, including at the Botswana Power Corporation (BPC), the Motor Vehicle Accident (MVA) Fund and the national airline, Air Botswana. Mr Kgosidiile has also worked as a business consultant where he focused on property transactions. His expertise spans corporate finance and business strategy, information technology, supply chain management and business transformation.
He holds a Bachelor of Commerce in Accounting and a Master's Degree in Business Administration, both from the University of Botswana. He is a fellow member of the Chartered Institute of Management Accountants (FCMA) and a fellow member of the Botswana Institute of Chartered Accountants.
Mr Kgosidiile is currently Board Chairman of Mmila Fund Administrators which administers the Debswana Pension Fund, Board Member of Prime-Time Property Holdings Limited, a Council Member of ABM university College and Trustee of Botswana Medical Aid Society. Previously, he was Chairman of the Botswana Building Society and, a board member of Botswana Railways, Stanbic Bank Botswana Limited, MVA Fund and KYS Investments Limited.
BDC holds 14,839,510 ordinary shares of nil par value in the Company and represents approximately 4.48% of the total issued share capital of the Company.
Aside from the information set out in the announcement above, no further information is required to be disclosed pursuant to Listing Rule 9.6.13R.
Peter Todd, Non-Executive Chairman of Grit, commented:
"The Board looks forward to welcoming Cross to the Board of Grit and working closely with him. His depth of knowledge, wealth of wide-ranging experience as well as relationships in the region will make a significant contribution to the further growth of Grit and delivering further value to our shareholders."
By order of the Board
8 March 2021
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited
Bronwyn Knight, Chief Executive Officer
+230 269 7090
Darren Veenhuis, Chief Strategy Officer and Investor Relations
+44 779 512 3402
Maitland/AMO - Communications Adviser
+44 7747 113 930
finnCap Ltd - UK Financial Adviser & Broker
William Marle/Giles Rolls/Teddy Whiley (Corporate Finance)
+44 20 7220 5000
Mark Whitfeld/Pauline Tribe (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
+230 402 0898
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 net total shareholder return inclusive of NAV growth of 12.0% p.a.*
The Company currently holds a primary listing on the premium segment of the Main Market of the London Stock Exchange (LSE: GR1T) and a secondary listing on the Official Market of the Stock Exchange of Mauritius Ltd (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 Knight (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, Jonathan Crichton+, Sir Samuel Esson Jonah+, Nomzamo Radebe, Catherine McIlraith+, David Love+, Cross Kgosidiile+ and Bright Laaka (Permanent Alternate Director to Nomzamo Radebe).
(* 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 Ltd
Sponsoring broker: Capital Markets Brokers Ltd
SEM authorised representative and sponsor: Perigeum Capital Ltd
UK Transfer secretary: Link Assets Services Limited
This notice is issued pursuant to the FCA Listing Rules and 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.