INDUSTRIALS REIT LIMITED

Share Issue/Capital Change • Aug 16, 2018

National Storage Mechanism | Additional information

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RNS Number : 0488Y

Stenprop Limited

16 August 2018

STENPROP LIMITED

(Registered in Guernsey)

(Registration number 64865)

LSE share code: STP    JSE share code: STP

ISIN:  GG00BFWMR296

("Stenprop" or the "Company")

RESULTS ANNOUNCEMENT IN RESPECT OF AN ELECTION TO RECEIVE

EITHER A CASH DIVIDEND OR A SCRIP DIVIDEND

16 August 2018

Stenprop shareholders are referred to the announcement released on 17 July 2018 regarding the election being offered to receive the final dividend of 4.00 pence per share in respect of the six months ended 31 March 2018 either as a cash dividend or a scrip dividend by way of an issue of new Stenprop shares (of the same class as existing shares) credited as fully paid up.

The Company is pleased to announce that election forms for 2,636,280 shares of EUR 0.000001258 pence each in the Company have been received, representing 0.9% of the current issued share capital of the Company.

An application has been made for the scrip dividend shares to be admitted to the Specialist Fund Segment of the main market of the London Stock Exchange and to be listed on the JSE ("Admission"). It is expected that Admission will occur on Friday, 17 August 2018. The scrip dividend shares will rank pari passu in all respects with the Company's existing issued shares.

Following Admission, the total number of shares issued by the Company will be 294,405,575 of which 11,662,469 are treasury shares. The total number of shares in issue following Admission less shares held in treasury will be 282,743,106. The figure of 282,743,106 shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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

Instinctif Partners (SA Investor Relations and PR Adviser)	+27 (0)11 447 3030
Keagile Makgoba
Java Capital (JSE Sponsor)	+ 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.

Stenprop has a listing on the Specialist Fund Segment of the main market of the LSE and a primary listing on the Main Board of the JSE.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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