Business
Capital Markets Day and Transactions update
Capital Markets Day and Transactions update.
About this update from Grit Real Estate Income Group Limited
[{"type":"text","content":"\n \n \n \n\n\nGrit Real Estate Income Group (GR1T)\n\n\n\n\n\n\nCapital Markets Day and Transactions update 10-May-2023 / 08:00 GMT/BST\n\n\n\n GRIT REAL ESTATE INCOME GROUP LIMITED\n\n (Registered in Guernsey)\n\n (Registration number: 68739)\n\n LSE share code: GR1T\n\n SEM share code: DEL.N0000\n\n ISIN: GG00BMDHST63 \n\n LEI: 21380084LCGHJRS8CN05\n\n (“Grit” or the “Company” and, together with its subsidiaries, the \"Group\")\n \n \n \n \n \n\n \n\nGRIT CAPITAL MARKETS DAY AND TRANSACTION UPDATES\n\n \n\n \n\nThe board of Directors (the “Board”) of Grit Real Estate Income Group Limited will today host a Capital Markets Day for investors and key stakeholders, both physically in Mauritius and available for virtual attendance via livestream. The inaugural Capital Markets and Investor day will delve deeper into “Grit 2.0”, the Group’s growth strategy post the acquisition of controlling interests in Gateway Real Estate Africa (“GREA”) and African Property Development Managers (“APDM”).\n\n \n\nThe livestream will commence at 12:30pm Mauritius / 09:30am UK / 10:30am South Africa via the Investor Meet Company platform, with the livestream being open to all existing and potential shareholders and other interested parties at the following link:\n\n \n\nhttps://www.investormeetcompany.com/grit-real-estate-income-group-limited/register-investor \n\n \n\nA playback will be accessible on-demand via the Company website after the event. \n\n \n\nNo new material or price sensitive information will be discussed and all information is contained in the presentation which will be made available on the Company’s website on 10 May 2023. Ahead of the presentations the Board is however pleased to provide the following updates on transactions currently underway:\n\n \n\nAcquisition of controlling interests in GREA and APDM:\n\n \n\nPhase 3 of the acquisition of GREA and APDM is scheduled to complete on 15 May 2023. However, as the Mauritius Prime Minister’s Office (“PMO”) consent remains outstanding, parties have agreed that Grit will transfer the remainder of the transaction cash consideration, and Gateway will pledge the GREA and APDM shares it is selling, to an escrow agent pending the receipt of the PMO approval which is expected shortly. \n\n \n\n...