Business
Issue & Proposed Acquisition not impacted by AGM
Issue & Proposed Acquisition not impacted by AGM.
About this update from Grit Real Estate Income Group Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 5400U\n Grit Real Estate Income Group\n 03 December 2021\n \n \n \n \n \n \n \n \n GRIT REAL ESTATE INCOME GROUP LIMITED\n \n \n (Registered in Guernsey)\n \n \n (Registration number: 68739)\n \n \n LSE share code: GR1T\n \n \n SEM share code: DEL.N0000\n \n \n ISIN: GG00BMDHST63 \n \n \n LEI: 21380084LCGHJRS8CN05\n \n \n (\"Grit\" or the \"Company\" \n and, together with its subsidiaries, the \"Group\"\n )\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Issue, Proposed Acquisition and General Meeting not impacted by AGM result\n \n \n \n \n \n \n \n \n \n \n Further to its announcement on 29 November 2021 giving details of the results of the Company's 2021 annual general meeting, the Company confirms that the failure to be passed at the AGM of Special Resolution 1 (Authority to issue shares for cash on a non-pre-emptive basis) does not impact on the Company's ability to issue new Ordinary Shares pursuant to the proposed open offer and placing (the \"Issue\") of new Ordinary Shares of the Company announced on 22 November 2021. \n \n \n \n \n \n As stated in the Company's combined prospectus and circular dated 22 November 2021 (the \"Prospectus\"), published in connection with the Issue, as the open offer is being made to all Shareholders on a proportionate basis to their existing shareholdings and the issue of new Ordinary Shares pursuant to the placing will only be in respect of any new Ordinary Shares not taken up by Shareholders pursuant to their open offer entitlements, there is no requirement for Shareholder approval to waive the pre-emption rights in the Company's articles of incorporation for the purposes of the Issue.\n \n \n \n \n \n The Company notes that there is some misunderstanding amongst certain Shareholders and confirms that it continues to progress with the Issue, Proposed Acquisition and General Meeting as announced on 22 November 2021.\n \n \n \n \n \n Terms not otherwise defined in this announcement have the meanings given to them in the Prospectus.\n \n \n \n \n \n By Order of the Board\n \n \n \n \n \n 3 December 2021\n \n \n \n \n \n FOR FURTHER INFORMATION, PLEASE CONTACT:\n \n \n \n \n \n \n Grit Real Estate Income Group Limited\n \n \n \n \n \n \n \n \n \n Bronwyn Knight, Chief Executive Officer\...