Dealings in securities by directors by a director of major subsidiaries and by the company secretary of the company

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 DIRECTORS, BY A DIRECTOR OF MAJOR SUBSIDIARIES OF THE COMPANY AND BY THE COMPANY SECRETARY


10 June 2019

Shareholders are advised of the following information relating to the acceptance of nil cost options and market value options
awarded on 6 June 2019 under the Stenprop Limited Long Term Incentive Plan ("Long Term Incentive Plan"). The nil cost options
will vest on 31 March 2022 subject to certain vesting conditions having been met, including performance targets set by the
remuneration committee prior to the awards being made. Assuming that the performance targets are met in full at the end of the
performance period, the nil cost options will result in the issue of 964,172 shares. The market value options will vest in three
tranches on 31 March 2020, 31 March 2021 and 31 March 2022 and once fully vested will result in the issue of 320,063 shares
subject to the payment of the exercise price of £1.1171 per share.

Name of director:                                    Paul Arenson
Transaction date:                                    6 June 2019
Class of securities:                                 Nil cost options
Number of securities:                                491,631
Nature of transaction:                               Off-market acceptance of nil cost options in terms of the Long Term
                                                     Incentive Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes

Name of director:                                    Julian Carey
Transaction date:                                    6 June 2019
Class of securities:                                 Nil cost options
Number of securities:                                472,541
Nature of transaction:                               Off-market acceptance of nil cost options in terms of the Long Term
                                                     Incentive Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes

Name of director:                                    James Beaumont
Transaction date:                                    6 June 2019
Class of securities:                                 Market value options
Number of securities:                                109,361
Total price payable on exercise:                     £122,167.17
Nature of transaction:                               Off-market acceptance of market value options in terms of the Long Term
                                                     Incentive Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes

Name of director:                                    Neil Marais
Name of major subsidiaries:                          Stenprop (UK) Limited and Stenprop (Germany) Limited
Transaction date:                                    6 June 2019
Class of securities:                                 Market value options
Number of securities:                                94,627
Total price payable on exercise:                     £105,707.82
Nature of transaction:                               Off-market acceptance of market value options in terms of the Long Term
                                                     Incentive Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes
                                                                                                                            
Name of company secretary:                           Sarah Bellilchi
Transaction date:                                    6 June 2019
Class of securities:                                 Market value options
Number of securities:                                116,075
Total price payable on exercise:                     £129,667.38
Nature of transaction:                               Off-market acceptance of market value options in terms of the Long Term
                                                     Incentive Plan
Nature and extent of company secretary's interest:   Direct beneficial
Clearance to deal received:                          Yes

Shareholders are further advised of the following information relating to the acceptance of nil cost options awarded on
6 June 2019 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 2020 and the last third vesting on 31 March 2021. Once
fully vested, they will result in the issue of 478,296 shares.

Name of director:                                    Paul Arenson
Transaction date:                                    6 June 2019
Class of securities:                                 Nil cost options
Number of securities:                                142,137
Nature of transaction:                               Off-market acceptance of nil cost options in terms of the Deferred Bonus
                                                     Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes

Name of director:                                    Patsy Watson
Transaction date:                                    6 June 2019
Class of securities:                                 Nil cost options
Number of securities:                                136,618
Nature of transaction:                               Off-market acceptance of nil cost options in terms of the Deferred Bonus
                                                     Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes

Name of director:                                    Julian Carey
Transaction date:                                    6 June 2019
Class of securities:                                 Nil cost options
Number of securities:                                136,618
Nature of transaction:                               Off-market acceptance of nil cost options in terms of the Deferred Bonus
                                                     Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes

Name of director:                                    James Beaumont
Transaction date:                                    6 June 2019
Class of securities:                                 Nil cost options
Number of securities:                                21,112
Nature of transaction:                               Off-market acceptance of nil cost options in terms of the Deferred Bonus
                                                     Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes

Name of director:                                    Neil Marais
Name of major subsidiaries:                          Stenprop (UK) Limited and Stenprop (Germany) Limited
Transaction date:                                    6 June 2019
Class of securities:                                 Nil cost options
Number of securities:                                17,347
Nature of transaction:                               Off-market acceptance of nil cost options in terms of the Deferred Bonus
                                                     Plan
Nature and extent of director's interest:            Direct beneficial
Clearance to deal received:                          Yes
                                                                                                                                      
Name of company secretary:                           Sarah Bellilchi
Transaction date:                                    6 June 2019
Class of securities:                                 Nil cost options
Number of securities:                                24,469
Nature of transaction:                               Off-market acceptance of nil cost options in terms of the Deferred Bonus
                                                     Plan
Nature and extent of company secretary's interest:   Direct beneficial
Clearance to deal received:                          Yes


For further information:

Stenprop Limited                                                          44(0)20 3918 6600
Paul Arenson
Julian Carey
James Beaumont


Numis Securities Limited (Financial Adviser)                              44(0)20 7260 1000
Hugh Jonathan
Vicki Paine

Tavistock (PR Adviser)                                                    44(0)20 7920 3150
James Whitmore
James Verstringhe
Charlotte Dale

Java Capital                                                              27 (0)11 722 3050
(JSE sponsor)


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.

Date: 10/06/2019 04:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.