(Incorporated in Bermuda)
(Registration number 47031)
BSX share code: STP.BH JSE share code: STP
ISIN: BMG8465Y1093
(?Stenprop? or ?the Company?)


Shareholders are advised that Mandy Yachad has resigned from the board of directors of Stenprop (the ?board?) 
with effect from 28 February 2018. The board thanks Mandy for his invaluable contribution since his appointment 
as a director of Stenprop in October 2014.

Stenprop has previously announced its intention to migrate its jurisdiction of incorporation from Bermuda to Guernsey, 
to convert to a UK real estate investment trust ("REIT"), and to list on the Specialist Fund Segment of the London 
Stock Exchange. This will require a number of changes to the composition and operation of the board, which will take 
effect upon conversion to a REIT so as to ensure that the Company complies with the REIT conditions. Further changes 
to the composition of the board will be announced via SENS as and when they occur.

Stenprop has a primary listing on the Main Board of the Johannesburg Stock Exchange (?JSE?) and a secondary listing 
on the Bermuda Stock Exchange.

19 January 2018

JSE sponsor
Java Capital

Bermuda Stock Exchange sponsor
Estera Securities (Bermuda) Limited