Announcement • Apr 08
Grit Real Estate Income Group Limited to Report 18 Months Period Ending Dec 31, 2025 Results on Apr 30, 2026 Grit Real Estate Income Group Limited announced that they will report 18 months, period ending Dec 31, 2025 results at 8:00 AM, GMT Standard Time on Apr 30, 2026 Announcement • Dec 02
Grit Real Estate Income Group Limited Announces Board Changes Grit Real Estate Income Group Limited announced that Peter Todd will remain as Chairman until the publication of the Group’s results for the 18-month period ending 31 December 2025, when he will step down. This extended hand over period enables the Company to manage an orderly and effective transition at a time when stability and continuity are of paramount importance. At the conclusion of this period and following publication of the results on or before 30 April 2026, Peter Todd will hand over the role of Chairman to Mr. Nigel Nunoo, currently an Independent Non-Executive Director. Nigel has been deeply engaged in the Group’s governance and strategic oversight, and Grit is confident that this planned succession ensures clarity, continuity, and a seamless transfer of responsibilities. Additionally, Mr. Cross Kgosidiile has informed the Board that he will not stand for re-election at this AGM. The Board extends its sincere thanks to Cross for his dedicated service and his valued contributions over the years. Following Mr. Kgosidiile not offering himself for re-election, the Board will comprise seven directors, of whom four are independent. Announcement • Dec 01
Grit Real Estate Income Group Limited, Annual General Meeting, Dec 22, 2025 Grit Real Estate Income Group Limited, Annual General Meeting, Dec 22, 2025, at 14:30 Arabian Standard Time. Location: unity building, the precinct, m2 junction, grand baie, Mauritius Announcement • Aug 09
Grit Real Estate Income Group Limited to Report Fiscal Year 2025 Results on Aug 12, 2025 Grit Real Estate Income Group Limited announced that they will report fiscal year 2025 results on Aug 12, 2025 Announcement • Jan 21
Grit Real Estate Income Group Limited to Report First Half, 2025 Results on Feb 28, 2025 Grit Real Estate Income Group Limited announced that they will report first half, 2025 results on Feb 28, 2025 Announcement • Nov 23
Grit Real Estate Income Group Limited, Annual General Meeting, Dec 13, 2024 Grit Real Estate Income Group Limited, Annual General Meeting, Dec 13, 2024, at 14:30 Arabian Standard Time. Location: unity building, the precinct, m2 junction, b11 fond du sac road, grand baie, Mauritius Announcement • Sep 27
Grit Real Estate Income Group Limited Announces Demise of Jonathan Crichton, Independent Non-Executive Director Grit Real Estate Income Group Limited announced the passing of Independent Non-Executive Director, Mr. Jonathan (“Johnny”) Crichton, aged 69. His unexpected demise has left his fellow Board members and colleagues deeply saddened. Mr. Crichton joined the Board on 17 September 2020, serving as Chairman of the Risk Committee and as a Member of the Audit Committee. He brought extensive experience in commercial matters, regulation, and governance, significantly benefiting the Board and the Company. In light of this, Lynette Finlay, Independent Non-Executive Director, has been appointed as a Member of the Audit Committee and Nigel Nunoo, Independent Non-Executive Director, has been appointed as a Member and Chair of the Risk Committee. New Risk • Sep 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Paying a dividend despite being loss-making. Market cap is less than US$100m (MU₨3.98b market cap, or US$86.6m). New Risk • Aug 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: MU₨4.57b (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (5.2% average weekly change). Market cap is less than US$100m (MU₨4.57b market cap, or US$98.7m). New Risk • Jul 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: MU₨4.59b (US$98.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (5.5% average weekly change). Earnings have declined by 20% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (MU₨4.59b market cap, or US$98.3m). New Risk • Apr 03
New major risk - Revenue and earnings growth Earnings have declined by 20% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (5.3% average weekly change). Upcoming Dividend • Mar 27
Upcoming dividend of US$0.015 per share Eligible shareholders must have bought the stock before 03 April 2024. Payment date: 15 May 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 11%. Within top quartile of Mauritian dividend payers (6.0%). Higher than average of industry peers (5.3%). Announcement • Feb 13
Grit Real Estate Income Group Limited to Report Fiscal Year 2024 Results on Oct 25, 2024 Grit Real Estate Income Group Limited announced that they will report fiscal year 2024 results on Oct 25, 2024 Announcement • Feb 09
Grit Real Estate Income Group Limited to Report First Half, 2024 Results on Feb 28, 2024 Grit Real Estate Income Group Limited announced that they will report first half, 2024 results on Feb 28, 2024 Announcement • Nov 25
Grit Real Estate Income Group Limited, Annual General Meeting, Dec 18, 2023 Grit Real Estate Income Group Limited, Annual General Meeting, Dec 18, 2023, at 13:00 Mauritius Standard Time. Location: Unity Building, The Precinct, M2 Junction Grand Baie Mauritius Agenda: To consider and approve the audited annual financial statements of the Company for the year ended 30 June 2023; To consider the Integrated Annual Report (as defined below) of the Company; To receive the report of PricewaterhouseCoopers LLP, the statutory auditors of the Company; and To consider and, if deemed fit, approve, with or without modification, the Ordinary and Special Resolutions set out in this notice of AGM. New Risk • Nov 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: MU₨4.29b (US$97.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. New Risk • Nov 05
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Nov 03
Full year 2023 earnings released: US$0.049 loss per share (vs US$0.026 profit in FY 2022) Full year 2023 results: US$0.049 loss per share (down from US$0.026 profit in FY 2022). Revenue: US$56.2m (down 21% from FY 2022). Net loss: US$23.6m (down 326% from profit in FY 2022). Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 1.4% growth forecast for the Real Estate industry in Africa. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Oct 06
Grit Real Estate Income Group Limited Announces Changes to Its Board Committees Grit Real Estate Income Group Limited announced changes to the membership of its Board Committees effective 1 October 2023. Peter Todd (Non-Executive Chairman) ceased to be a member of the Remuneration Committee and Lynette Finlay (Independent Non-Executive Director) has been appointed as a member of the Remuneration Committee. New Risk • Aug 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 175% Cash payout ratio: 151% Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Announcement • Jun 24
An unknown buyer acquired a 6.75% stake in Letlole La Rona Limited from Grit Real Estate Income Group Limited for BWP 47.3 million. An unknown buyer acquired a 6.75% stake in Letlole La Rona Limited from Grit Real Estate Income Group Limited for BWP 47.3 million on June 22, 2023.An unknown buyer completed the acquisition of a 6.75% stake in Letlole La Rona Limited from Grit Real Estate Income Group Limited on June 22, 2023. Reported Earnings • Feb 26
First half 2023 earnings released: EPS: US$0.01 (vs US$0.013 in 1H 2022) First half 2023 results: EPS: US$0.01. Revenue: US$26.9m (down 22% from 1H 2022). Net income: US$4.74m (up 11% from 1H 2022). Profit margin: 18% (up from 12% in 1H 2022). Revenue is expected to decline by 16% p.a. on average during the next 2 years, while revenues in the Real Estate industry in Africa are expected to grow by 2.6%. Announcement • Feb 14
Grit Real Estate Income Group Limited to Report First Half, 2023 Results on Feb 24, 2023 Grit Real Estate Income Group Limited announced that they will report first half, 2023 results on Feb 24, 2023 Announcement • Feb 06
Grit Real Estate Income Group Limited Announces Board Changes The board of Directors of Grit Real Estate Income Group Limited announced that, as a result of new responsibilities as chief operating officer of another listed South African real estate business, Nomzamo Radebe has stepped down from the Board, effective immediately. The Board would also like to highlight that the re-election of Mr. Bright Laaka as Permanent Alternate to Nomzamo Radebe was not put for shareholders' approval at the Company's Annual General Meeting held on 30 November 2022. Bright thus ceased to be the Permanent Alternate to Nomzamo effective 30 November 2022. Ms Radebe was a nominated shareholder representative for the Drive-in-Trading Black economic empowerment structure, and as such, was regarded as non-independent. The Board composition is currently being assessed and replacements being identified to fill vacant posts. Further announcements will be made in due course. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment deteriorated over the past week After last week's 69% share price decline to MU₨15.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 4x in the Real Estate industry in Africa. Total loss to shareholders of 69% over the past three years. Reported Earnings • Oct 30
Full year 2022 earnings released: EPS: US$0.026 (vs US$0.17 loss in FY 2021) Full year 2022 results: EPS: US$0.026 (up from US$0.17 loss in FY 2021). Revenue: US$50.8m (up 1.9% from FY 2021). Net income: US$10.4m (up US$62.4m from FY 2021). Profit margin: 21% (up from net loss in FY 2021). Revenue is forecast to grow 77% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Real Estate industry in Africa. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Dec 18
Grit Real Estate Income Group Limited has completed a Follow-on Equity Offering in the amount of £7.215 million. Grit Real Estate Income Group Limited has completed a Follow-on Equity Offering in the amount of £7.215 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,000,000
Price\Range: £0.481
Security Features: Income Trust
Transaction Features: Regulation S Announcement • Jul 31
Grit Real Estate Income Group Completes JSE Delisting Shareholders of Grit Real Estate Income Group Limited ("Shareholders") are advised that the Company on July 29, 2020 completed its delisting from the Main Board of the Johannesburg Stock Exchange, as referred to in the announcements by the Company on 10 and 24 July 2020. The Company now has its primary listing on the standard segment of the London Stock Exchange ("LSE") and a secondary listing on the Stock Exchange of Mauritius ("SEM"). Announcement • Jul 25
Grit to Delist from Main Board of JSE Limited, Effective July 29, 2020 Shareholders of Grit Real Estate Income Group Limited are referred to the announcements released by the Company on 11 June 2020 and 10 July 2020 and the circular dated 11 June 2020 ("Circular") relating to the proposed delisting of the Company from the Main Board of the JSE Limited by means of an offer (the "Offer") by Botswana Development Corporation Limited and Zep-Re (PTA Reinsurance Company). Accordingly, the settlement of the Offer will proceed in accordance with the timetable set out in the Cirular and Grit will delist from the Main Board of the JSE Limited with effect from Wednesday, 29 July 2020.