MAURITIUS - Grit Real Estate Income Group Limited (LSE:GR1T), a leading pan-African real estate company, held its annual general meeting (AGM) on Friday, with all resolutions proposed to shareholders receiving near-unanimous support. The voting outcomes, released on the same day, showed strong backing for the company's direction and management.
The resolutions included the adoption of audited financial statements, the re-election of board members, and the appointment of MacIntyre Hudson (NYSE:HUD) LLP as statutory auditors, each passing with 100% approval from the shares voted. The re-election of directors Peter Todd, Bronwyn Corbett, Gareth Schnehage, David Love, Catherine McIlraith, Cross Kgosidiile, Lynette Finlay, and the election of Nigel Nunoo as a new director, all received overwhelming support, with approval rates ranging from 96.29% to 100%.
However, two resolutions related to the company's remuneration policy saw notable dissent, with approximately 30% of votes cast against. In response, Grit's executives have committed to engaging with dissenting shareholders to understand their concerns. A consultation via telephone conference is scheduled for January 22, 2025, and shareholders are invited to submit their questions in advance.
The company's commitment to sustainability and delivering strong, sustainable income for shareholders was underscored, reflecting its focus on long-term leases with blue-chip multi-national tenants across various property sectors in Africa.
Grit Real Estate's listings include a primary listing on the London Stock Exchange (LON:LSEG) and a dual currency trading secondary listing on the Stock Exchange of Mauritius.
An update on the shareholder consultation and any actions taken will be published within six months following the meeting. The full details of the AGM resolutions have been made available for public inspection through the UK Financial Conduct Authority's National Storage Mechanism.
This report is based on a press release statement from Grit Real Estate Income Group Limited.
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