Founders Story
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Timeline of Events
2020
■ Acquisition of Assets
■ Key Events
January 2020
2019
■ Acquisition of Assets
■ Key Events
March 2019
April 2019
Paid distribution of US$5.25cps for the six months ended 31 December 2018
June 2019
September 2019
US$140m debt facility in respect of Mozambique portfolio refinance
September 2019
Successful completion and launch of AnfaPlace Mall renovation at a capital cost of US$25m (Morocco)
November 2019
Acquisition of additional 23.75% interest in Bostwana-listed Letlole La Rona (LLR) for US$13.8m (Botswana)
November 2019
Paid distribution of US$6.95cps, take FY2019 distribution to a total of US$12.20cps
2018
■ Acquisition of Assets
■ Key Events
March 2018
Paid distribution of US6.07cps for the six months ended 31 December 2017
May 2018
Acquired 47.5% of Capital Place for US$12.2m (Ghana)
July 2018
Grit successfully raised US$132m in London Listing Capital Raise
Grit becomes the first Pan-African Real Estate Income Group & first Mauritius-domiciled company to list on the Main Market of the London Stock Exchange (LSE)
Introduction of UK Investors into share register
August 2018
Acquisition of 80.1% stake in Acacia Estate for US$24.2m (Mozambique)
[Tenanted by the US Embassy]
September 2018
Acquisition of CADS II Building for US$10.5m in Accra (Ghana)
November 2018
Paid dividend of US$6.12cps, taking FY2018 distribution to a total of US$12.19cps
December 2018
Acquisition of 5th Avenue Building for US$20.5m in Accra (Ghana)
2017
■ Acquisition of Assets
■ Key Events
March 2017
Leaseback acquisition of Tamassa Resort (Mauritius) from Lux Resorts for US$40m & acquisition of Mall de Tete (Mozambique) for US$24.2m
March 2017
Paid distribution of US6.12cps for the six months ended 31 December 2016
June 2017
Distribution – clean out dividend for period 1 Jan 17 to 30 Apr 17 of US4.57cps prior to Rights Offer
Raised US$121m by way of a Rights Offer at an issue price of US$1.40 per share, significantly increasing market cap and asset value to c.US$600m
June 2017
Acquisition of 50% stake in Cosmopolitan Mall for US$37.2m (Zambia)
July 2017
Shareholders approved Grit’s rebrand and name change, reflecting the Group’s current reality and future growth ambitions
August 2017
Acquisition of Imperial Distribution Center for US$18m (Kenya)
Acquisition of 6.25% stake in Letlole La Rona (Botswana)
October 2017
Paid distribution of US1.38cps, taking FY2017 distribution to a total of US$12.07cps
October 2017
Inclusion into the SEM-10 Index
2016
■ Acquisition of Assets
■ Key Events
February 2016
Acquisition of ABSA House for US$13.6m (Mauritius)
March 2016
Paid distribution of US$6.17cps for six month period ended 31 December 2015
April 2016
Acquisition of 50% stake in Buffalo Mall (Kenya) & Bollore Warehouse (Mozambique) for US$14.8m (combined)
May 2016
Delta Africa officially becomes Mara Delta – the largest pan African income fund listed on the JSE and SEM
October 2016
Paid distribution of US$5.58cps, taking FY2016 distribution to a total of US$11.75cps
September 2016
Acquisition of VDE Housing Estate for US$33.1m (Mozambique)
December 2016
Leaseback acquisition of a 44.4% stake in Beachcomber Hospitality Investments (BHI), owner of 3 luxury resorts for US$83.4m (Mauritius)
2015
■ Acquisition of Assets
■ Key Events
March 2015
Debut on Mauritius Stock Exchange (SEM) and migration from BSX.
Maiden distibution of US$6.64cps
April 2015
Introduction of the Public Investment Corporation as anchor shareholder in US$42.0m capital raise
April 2015
Acquisition of Hollard building for US$14.9m (Mozambique)
May 2015
Acquired the Vodacom Building for US$49m (Mozambique)
June 2015
Maiden issue of shares on the SEM
August 2015
Paid distribution of US$4.65cps, taking FY2015 distribution to a total of US$11.29cps
August 2015
Acquisition of Zimpeto Square for US$10.2m (Mozambique)
November 2015
Delta Africa and Pivotal announces business agreement to become Mara Delta
December 2015
Acquired Kafubu and Mukuba Malls for US$40.6m (Zambia)
2014
■ Acquisition of Assets
■ Key Events
January 2014
Grit Real Estate Income Group Founded
Bronwyn Corbett and Greg Pearson, aware of the strong demand for world-class corporate real estate development across Africa, established Grit Real Estate Income Group* (“Grit”) in 2014.
July 2014
Acquired Commodity House Phase 1 as its 1st asset for US$32.5m (Mozambique)
Acquisition of AnfaPlace Mall for US$114.7m (Morocco)
July 2014
Completion of inward listing on the JSE Limited’s ALT-X board
