Results of general meeting

(Formerly Stenprop Limited)
(Registered in Guernsey with registration number 64865)
LSE share code: MLI JSE share code: MLI
(“Industrials REIT” or the “Company”)

9 February 2022

Results of general meeting

The Industrials REIT general meeting was held earlier today (in terms of the notice of general meeting
dispatched to shareholders on Thursday, 20 January 2022). A poll was held on each of the resolutions
proposed and the results of the poll are set out below. Resolutions 1 and 2 were passed as ordinary
resolutions and resolution 3 was passed as a special resolution by the requisite majority of
shareholders. As a result, migration of the listing of the Company’s ordinary shares from a primary
listing to a secondary listing on the Main Board of the Johannesburg Stock Exchange will take effect
from Friday, 11 February 2022.

Details of the results of voting at the general meeting are as follows:

  -   total number of Industrials REIT shares that could have been voted at the general meeting:
      290,785,827; and
  -   total number of Industrials REIT shares that were voted in person or by proxy at the general
      meeting: 127,325,322 (being 43.79% of the total number of shares that could have been
      voted at the meeting).

Ordinary resolutions

Resolution 1: To authorise the Company’s migration to a secondary listing on the Johannesburg
Stock Exchange with effect from 11 February 2022 (the “JSE Migration”).
Shares voted*              For                      Against                   Abstentions^
127,325,322, being         127,318,998, being       6,324, being 0.00%        426,932, being
42.62%                     100.00%                                            0.14%

Resolution 2: To authorise the Industrials REIT Limited SAYE Share Option Plan.
Shares voted*              For                      Against                   Abstentions^
127,325,322, being         124,260,803, being       3,064,519, being          426,932, being
42.62%                     97.59%                   2.41%                     0.14%

Special resolutions

Resolution 3: That the amended articles of incorporation be adopted as the articles of
incorporation of the Company in substitution for, and to the exclusion of, the existing articles of
incorporation of the Company with effect from completion of the proposed JSE Migration.
Shares voted*              For                      Against                   Abstentions^
127,180,449, being         127,174,125, being       6,324 being 0.00%         571,805, being
42.57%                     100.00%                                            0.19%

* shares voted in relation to the total shares in issue, being 298,775,175.
^ in relation to total shares in issue, being 298,775,175.

In accordance with LR 9.6.2 of the Financial Conduct Authority’s Listing Rules, copies of the resolutions
will be submitted to the National Storage Mechanism and will shortly be available for inspection at:

For further information:

Industrials REIT 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

FTI Consulting (PR Adviser)                                                        44(0)20 3727 1000
Richard Sunderland
Richard Gotla
Neel Bose

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

About Industrials REIT:

Industrials REIT is a UK REIT traded on the London Stock Exchange and the Johannesburg Stock
Exchange. The objective of the Company is to deliver sustainable growing income to its investors.
Industrials REIT invests 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

Date: 09-02-2022 05:00:00
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