GR1T Grit Real Estate Income Group Limited

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

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:

*  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:

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