INDUSTRIALS REIT LIMITED

Transaction in Own Shares • Jun 22, 2018

National Storage Mechanism | Additional information

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RNS Number : 2301S

Stenprop Limited

22 June 2018

STENPROP LIMITED
(Registered in Guernsey)
(Registration number 64865)
LSE share code: STP    JSE share code: STP
ISIN:  GG00BFWMR296
("Stenprop" or the "Company")

DEALINGS IN SECURITIES BY A DIRECTOR OF A MAJOR SUBSIDIARY OF THE COMPANY AND ISSUE OF NEW SHARES

22 June 2018

Shareholders are advised of the following information relating to the acceptance of market value options awarded on 7 June 2018 under the Stenprop Limited Long Term Incentive Plan ("Long Term Incentive Plan"). The market value options will vest in three tranches on 31 March 2019, 31 March 2020 and 31 March 2021 and once fully vested will result in the issue of 95 816 shares subject to the payment of the exercise price of £1.10 per share, for a deemed value of £105 397.60.

Name of director: Name of subsidiary companies:	Nicolaas Marais Stenprop (UK) Limited and Stenprop (Germany) Limited
Transaction date:	7 June 2018
Class of securities:	Market value options
Number of securities:	95 816
Nature of transaction: Nature and extent of director's interest: Clearance to deal received:	Off-market acceptance of market value options in terms of the Long Term Incentive Plan Direct beneficial Yes

Shareholders are further advised of the following information relating to the acceptance of nil cost options awarded on 7 June 2018 under the Stenprop Limited Amended Deferred Share Bonus Plan ("Deferred Bonus Plan"). One third of these nil cost options vested immediately, with the second third vesting on 31 March 2019 and the last third vesting on 31 March 2020. Once fully vested, they will result in the issue of 18 363 shares.

Name of director: Name of subsidiary companies:	Nicolaas Marais Stenprop (UK) Limited and Stenprop (Germany) Limited
Transaction date:	7 June 2018
Class of securities:	Nil cost options
Number of securities:	18 363
Nature of transaction: Nature and extent of director's interest: Clearance to deal received:	Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan Direct beneficial Yes

Shareholders are further advised of the exercise of nil cost options awarded under the Deferred Bonus Plan, comprising 6 121 nil cost options granted on 7 June 2018, which vested immediately, 3 675 options awarded on 8 June 2017 which vested on

31 March 2018 and 5 283 options awarded on 9 June 2016 which vested on 31 March 2018, which will result in the issuance of 15 079 shares, in each case at a deemed value of £1.185 per share.

Name of director: Name of subsidiary companies:	Nicolaas Marais Stenprop (UK) Limited and Stenprop (Germany) Limited
Transaction date:	20 June 2018
Class of securities:	Nil cost options
Number of securities:	15 079
Deemed total value: Nature of transaction: Nature and extent of director's interest: Clearance to deal received:	£17,868.61 Off-market exercise of nil cost options in terms of the Deferred Bonus Plan Direct beneficial Yes

Following the transaction, Nicolaas Marais' beneficial interest in the Company is 295 679 shares, representing approximately 0.10% of the issued capital of the Company.

ISSUE OF NEW SHARES

Application has been made for 50 819 new ordinary shares to be admitted to the Specialist Fund Segment of the London Stock Exchange and to the Main Board of the JSE. This application includes the above 15 079 vested options exercised by Nicolaas Marais and an additional 35 740 ordinary shares in relation to the exercise of additional nil cost options by an employee of the Stenprop group in terms of the Deferred Bonus Plan. It is expected that admission will take place at 8.00 am on 26 June 2018.

Enquiries:

Stenprop Limited Paul Arenson Patsy Watson Julian Carey	+44(0)20 7079 6600
Numis Securities Limited (Financial Adviser) Hugh Jonathan Vicki Paine	+44(0)20 7260 1000
Tavistock (PR adviser) James Whitmore James Verstringhe Kirsty Allan	+44(0)20 7920 3150
JSE Sponsor Java Capital Trustees and Sponsors Proprietary Limited	+ 27 (0) 11 722 3050

About Stenprop

Stenprop is a Guernsey-registered UK REIT. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to www.stenprop.com.

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