/Equities/XLON/GRIT/RNS

PDMR Dealings

RNS Number : 5347E

GRIT Investment Trust PLC

28 October 2022

GRIT Investment Trust PLC

("GRIT" or the "Company")

Further to Conversion of Existing Convertible Loan Notes

PDMR/Director Dealings

Conversion of Existing Convertible Loan Notes

On 25 October 2022, the GRIT Board announced that an aggregate of £52,500 principal of Existing Convertible Loan Notes held by Malcolm Burne and Richard Lockwood, Directors of GRIT have been converted into 2,100,000 new ordinary shares (the "Conversion Shares") of 2.5p each in the Company at a conversion price of 2.5p per share. Of the total Conversion Shares, 1,040,279 new ordinary shares were issued to Malcolm Burne and 1,059,721 new ordinary shares were issued to Richard Lockwood. The Conversion Shares have been admitted to listing on the Official List (premium listing segment) and to trading on the London Stock Exchange's main market for listed securities.

Acquisition of Existing Convertible Loan Notes

Further to the above Malcolm Burne has agreed, via Peterhouse Capital Limited, with other holders of the Existing Convertible Loan Notes issued on 2 August 2021, to acquire £26,006.98 worth of the Existing Convertible Loan Notes in exchange for 1,040,279 ordinary shares of GRIT. Richard Lockwood has agreed, via Peterhouse Capital Limited, with other holders of the Existing Convertible Loan Notes issued on 2 August 2021, to acquire £26,493.03 worth of the Existing Convertible Loan Notes in exchange for 1,059,721 ordinary shares of GRIT.

For more information, please contact:-

GRIT Investment Trust plc

Martin Lampshire

Tel: +44 (0) 20 3198 2554

Peterhouse Capital Limited

Lucy Williams/Duncan Vasey

Tel: +44 (0)20 7469 0930

The following information relating to the acquisition of the Existing Loan Notes following the issue of Conversion Shares to Malcolm Burne has been filed with the FCA in accordance with Article 19(1) of UK MAR:-

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

Details of the person discharging managerial responsibilities / person closely associated

Name

Malcolm Burne

Reason for the notification

Position/status

Director

Initial notification /Amendment

Initial notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

GRIT Investment Trust PLC

LEI

2138005OJKGWG3X4SY51

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 2.5 pence

ISIN: GB00BL594W83

Nature of the transaction

Disposal of 1,040,279 shares to acquire an aggregate £26,006.98 of Convertible Loan Notes.

Price(s) and volume(s)

Price	No. of shares
2.5 pence	1,040,279

Aggregated information

- Aggregated volume

- Price

1,040,279

2.5 pence

Date of the transaction

28/10/2022

Place of the transaction

Outside a trading venue

Details of the person discharging managerial responsibilities / person closely associated

Name

Richard Lockwood

Reason for the notification

Position/status

Director

Initial notification /Amendment

Initial notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

GRIT Investment Trust PLC

LEI

2138005OJKGWG3X4SY51

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 2.5 pence

ISIN: GB00BL594W83

Nature of the transaction

Disposal of 1,059,721 shares to acquire an aggregate £26,493.03 of Convertible Loan Notes.

Price(s) and volume(s)

Price	No. of shares
2.5 pence	1,059,721

Aggregated information

- Aggregated volume

- Price

1,059,721

2.5 pence

Date of the transaction

28/10/2022

Place of the transaction

Outside a trading venue

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:			GRIT Investment Trust Plc
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) ⁱⁱⁱ:
3. Details of person subject to the notification obligation ^iv
Name			Malcolm Burne
City and country of registered office (if applicable)			GB
4. Full name of shareholder(s) (if different from 3.) ^v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached ^vi:			28 Oct 2022
6. Date on which issuer notified (DD/MM/YYYY):			28 Oct 2022
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) ^vii
Resulting situation on the date on which threshold was crossed or reached	14.64%	0.000000		14.64%	1,263,890
Position of previous notification (if applicable)	3.42%	0.000000		3.42%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ^ix					% of voting rights
		Direct (DTR5.1)		Indirect (DTR5.2.1)			Direct (DTR5.1)		Indirect (DTR5.2.1)
GB00BL594W83		1,263,890					14.64%


SUBTOTAL 8. A		1,263,890					14.64%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument		Expiration date ^x	Exercise/ Conversion Period ^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date ^x		Exercise/ Conversion Period ^xi		Physical or cash Settlement ^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiii				X
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xiv
Name ^xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold






10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information ^xvi

Place of completion	London
Date of completion	28/10/22

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:			GRIT Investment Trust Plc
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) ⁱⁱⁱ:
3. Details of person subject to the notification obligation ^iv
Name			Malcolm Burne
City and country of registered office (if applicable)			GB
4. Full name of shareholder(s) (if different from 3.) ^v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached ^vi:			28 Oct 2022
6. Date on which issuer notified (DD/MM/YYYY):			28 Oct 2022
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) ^vii
Resulting situation on the date on which threshold was crossed or reached	2.59%	0.000000		2.59%	223,611
Position of previous notification (if applicable)	14.64%	0.000000		14.64%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ^ix					% of voting rights
		Direct (DTR5.1)		Indirect (DTR5.2.1)			Direct (DTR5.1)		Indirect (DTR5.2.1)
GB00BL594W83		223,611					2.59%


SUBTOTAL 8. A		223,611					2.59%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument		Expiration date ^x	Exercise/ Conversion Period ^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date ^x		Exercise/ Conversion Period ^xi		Physical or cash Settlement ^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiii				X
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xiv
Name ^xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold






10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information ^xvi

Place of completion	London
Date of completion	28/10/22

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:			GRIT Investment Trust Plc
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) ⁱⁱⁱ:
3. Details of person subject to the notification obligation ^iv
Name			Richard Lockwood
City and country of registered office (if applicable)			GB
4. Full name of shareholder(s) (if different from 3.) ^v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached ^vi:			28 Oct 2022
6. Date on which issuer notified (DD/MM/YYYY):			28 Oct 2022
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) ^vii
Resulting situation on the date on which threshold was crossed or reached	14.86%	0.000000		14.86%	1,283,332
Position of previous notification (if applicable)	3.42%	0.000000		3.42%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ^ix					% of voting rights
		Direct (DTR5.1)		Indirect (DTR5.2.1)			Direct (DTR5.1)		Indirect (DTR5.2.1)
GB00BL594W83		1,283,332					14.86%


SUBTOTAL 8. A		1,283,332					14.86%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument		Expiration date ^x	Exercise/ Conversion Period ^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date ^x		Exercise/ Conversion Period ^xi		Physical or cash Settlement ^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiii				X
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xiv
Name ^xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold






10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information ^xvi

Place of completion	London
Date of completion	28/10/22

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:			GRIT Investment Trust Plc
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) ⁱⁱⁱ:
3. Details of person subject to the notification obligation ^iv
Name			Richard Lockwood
City and country of registered office (if applicable)			GB
4. Full name of shareholder(s) (if different from 3.) ^v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached ^vi:			28 Oct 2022
6. Date on which issuer notified (DD/MM/YYYY):			28 Oct 2022
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) ^vii
Resulting situation on the date on which threshold was crossed or reached	2.59%	0.000000		2.59%	223,611
Position of previous notification (if applicable)	14.86%	0.000000		14.86%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ^ix					% of voting rights
		Direct (DTR5.1)		Indirect (DTR5.2.1)			Direct (DTR5.1)		Indirect (DTR5.2.1)
GB00BL594W83		223,611					2.59%


SUBTOTAL 8. A		223,611					2.59%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument		Expiration date ^x	Exercise/ Conversion Period ^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date ^x		Exercise/ Conversion Period ^xi		Physical or cash Settlement ^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiii				X
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xiv
Name ^xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold






10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information ^xvi

Place of completion	London
Date of completion	28/10/22

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END

MSCFEAFDAEESEFS

TIDM	GRIT
Share Price	1.25p-20.00%
Market Cap	£309.04k

Date	28 Oct 2022
Time	14:22:29
Category	Miscellaneous
ID	5347E

TIDM	GRIT
Share Price	1.25p-20.00%
Market Cap	£309.04k

Date	28 Oct 2022
Time	14:22:29
Category	Miscellaneous
ID	5347E

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PDMR Dealings