Dealings in securities by a director of major subsidiaries of the company

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


3 April 2019

Shareholders are advised of the following information relating to the exercise of nil cost options awarded under the
Stenprop Limited Amended Deferred Share Bonus Plan ("Deferred Bonus Plan"), comprising 3,674 nil-cost options granted
on 8 June 2017 and 6,121 nil-cost options granted on 7 June 2018, which all vested on 31 March 2019 at a deemed value of
GBP 1.10 per nil cost option:

Name of director of major subsidiaries:                     Neil Marais
Name of major subsidiaries:                                 Stenprop (UK) Limited and Stenprop (Germany) Limited
Transaction date:                                           31 March 2019
Class of securities:                                        Nil cost options
Number of securities exercised:                             9,795
Deemed total value of the transaction:                      GBP 10,774.50
Nature of transaction:                                      Off-market exercise 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

The Company intends to utilise treasury shares to settle the exercise of the nil cost options to the director and to other
participants of the Deferred Bonus Plan, following which the total number of treasury shares held by the Company will be
15,975,826 ordinary shares and the total number of shares in issue less shares held in treasury will be 282,799,349 ordinary

For further information:

Stenprop Limited
Paul Arenson
                                                                     44(0)20 3918 6600
Patsy Watson
Julian Carey

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

JSE Sponsor                                                           27 (0) 11 722 3050
Java Capital Trustees and Sponsors Proprietary Limited

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

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