Dealings in securities

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, ASSOCIATES OF DIRECTORS, A DIRECTOR OF MAJOR SUBSIDIARIES
AND AN ASSOCIATE OF A DIRECTOR OF MAJOR SUBSIDIARIES OF THE COMPANY

31 July 2018

Shareholders are advised of the following information relating to dealings in securities by a director and associates of
directors of the Company; and by a director of major subsidiaries and an associate of a director of major subsidiaries
of Stenprop, pursuant to the declaration of a cash dividend for the six months ended 31 March 2018 with an election
to receive a scrip dividend in lieu of cash ("scrip dividend") in accordance with the circular issued to shareholders on
10 July 2018. Clearance to deal was granted in respect of all shares allocated in terms of the scrip dividend:

Name of director:                           Paul Arenson
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       14,122
Price per security:                         GPB 1.1330
Total value:                                GPB 16,000.23
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend through SP Nominees, a nominee company which holds shares
                                            on behalf of Paul Arenson
Nature and extent of director’s interest:   Direct beneficial


Name of associate:                          Jabali Enterprises Limited
Name of director and relationship to        Paul Arenson, who is a discretionary beneficiary of the Lonat Trust which
director:                                   has a beneficial interest in Jabali Enterprises Limited
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       190,381
Price per security:                         GPB 1.1330
Total value:                                GPB 215,701.67
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend through SP Nominees, a nominee company which holds shares
                                            on behalf of Jabali Enterprises Limited
Nature and extent of director’s interest:   Indirect beneficial


Name of associate:                          Zowert Properties Limited
Name of director and relationship to        Paul Arenson, who is a discretionary beneficiary of the Saruga Trust,
director:                                   which has a beneficial interest in Zowert Properties Limited
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       58,944
Price per security:                         GPB 1.1330
Total value:                                GPB 66,783.55
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend through SP Nominees, a nominee company which holds shares
                                            on behalf of Zowert Properties Limited
Nature and extent of director’s interest:   Indirect beneficial


Name of associate:                          Lonat Trust
Name of director and relationship to        Paul Arenson, who is a discretionary beneficiary of the Lonat Trust
director:
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       70,868
Price per security:                         GPB 1.1330
Total value:                                GPB 80,2943.44
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend through SP Nominees, a nominee company which holds shares
                                            on behalf of the Lonat Trust
Nature and extent of director’s interest:   Indirect beneficial


Name of associate:                          Saruga Trust
Name of director and relationship to        Paul Arenson, who is a discretionary beneficiary of the Saruga Trust
director:
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       107,807
Price per security:                         GPB 1.1330
Total value:                                GPB 122,145.33
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend through SP Nominees, a nominee company which holds shares
                                            on behalf of Saruga Trust
Nature and extent of director’s interest:   Indirect beneficial


Name of associate:                          Millicent Limited
Name of director and relationship to        Patsy Watson, who is a discretionary beneficiary of the Swallow Trust
director:                                   which has a beneficial interest in Millicent Limited
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       154,070
Price per security:                         GPB 1.1330
Total value:                                GPB 174,561.31
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend through SP Nominees, a nominee company which holds shares
                                            on behalf of Millicent Limited
Nature and extent of director’s interest:   Indirect beneficial


Name of associate:                          Ferryman Capital Partners Limited
Name of director and relationship to        Warren Lawlor, who is a beneficiary of the Warren Lawlor Family Trust,
director:                                   which has a beneficial interest in Ferryman Capital Partners Limited
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       28,369
Price per security:                         GPB 1.1330
Total value:                                £32,142.08
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend through SP Nominees, a nominee company which holds shares
                                            on behalf of Ferryman Capital Partners Limited
Nature and extent of director’s interest:   Indirect beneficial


Name of associate:                          Pringlelight Investments Proprietary Limited
                                            Warren Lawlor, who is the sole director of Pringlelight Investments
Name of director and relationship to        Proprietary Limited and a beneficiary of the Warren Lawlor Family Trust
director:                                   which has a beneficial interest in Pringlelight Investments Proprietary
                                            Limited
Transaction date:                           27 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       746
Price per security:                         GPB 1.1330
Total value:                                £845.22
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip dividend
                                            dividend
Nature and extent of director’s interest:   Indirect beneficial


Name of associate:                          Sphere Investments Limited
                                            Stephen Ball, who is a director of Stenprop (UK) Limited, Stenprop
Name of director and relationship to        (Germany) Limited, Stenprop (Swiss) Limited and Stenprop Trafalgar
director:                                   Limited, being subsidiaries of Stenprop. Stephen Ball has a beneficial
                                            interest in Sphere Investments Limited
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       8,826
Price per security:                         GPB 1.1330
Total value:                                GPB 9,999.86
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend through SP Nominees, a nominee company which holds shares
                                            on behalf of Sphere Investments Limited
Nature and extent of director’s interest:   Indirect beneficial


Name of associate:                          Sphere Investments Limited
                                            Stephen Ball, who is a director of Stenprop (UK) Limited, Stenprop
Name of director and relationship to        (Germany) Limited, Stenprop (Swiss) Limited and Stenprop Trafalgar
director:                                   Limited, being subsidiaries of Stenprop. Stephen Ball has a beneficial
                                            interest in Sphere Investments Limited
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       1,059
Price per security:                         GPB 1.1330
Total value:                                GPB 1,199.85
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend
Nature and extent of director’s interest:   Indirect beneficial


Name of director:                           Neil Marais, who is a director of Stenprop (UK) Limited, Stenprop
                                            (Germany) Limited, Stenprop (Swiss) Limited and Stenprop Trafalgar
                                            Limited, being subsidiaries of Stenprop.
Transaction date:                           30 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       532
Price per security:                         GPB 1.1330
Total value:                                GPB 602.76
Nature of transaction:                      Off-market receipt of shares pursuant to an election to receive the scrip
                                            dividend
Nature and extent of director’s interest:   Direct beneficial


Shareholders are further advised of the following on-market purchase of shares by an associate of a director of
Stenprop (UK) Limited, Stenprop (Germany) Limited, Stenprop (Swiss) Limited and Stenprop Trafalgar Limited, being
subsidiaries of Stenprop:

Name of associate:                          Sphere Investments Limited
                                            Stephen Ball, who is a director of Stenprop (UK) Limited, Stenprop
Name of director and relationship to        (Germany) Limited, Stenprop (Swiss) Limited and Stenprop Trafalgar
director:                                   Limited, being subsidiaries of Stenprop. Stephen Ball has a beneficial
                                            interest in Sphere Investments Limited
Transaction date:                           13 July 2018
Class of securities:                        Ordinary shares
Number of securities:                       30,000
Price per security:                         GPB 1.1800
Total value:                                GPB 35,400.00
Nature of transaction:                      On-market purchase of shares
Nature and extent of director’s interest:   Indirect beneficial
Clearance to deal:                          N/A as the purchase of shares was undertaken by a portfolio manager


Enquiries:

Stenprop Limited
Paul Arenson
                                                                                           44(0)20 7079 6600
Patsy Watson
Julian Carey

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

Tavistock (PR adviser)
James Whitmore                                                                             44(0)20 7920 3150
James Verstringhe
Kirsty Allan

Instinctif Partners (SA Investor Relations and PR Adviser)                                 27 (0)11 447 3030
Keagile Makgoba

Java Capital Trustees and Sponsors Proprietary Limited (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.

Date: 31/07/2018 03:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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