STOR-AGE PROPERTY REIT LIMITED - Dealings in securities by Directors

Dealings in securities by Directors

Stor-Age Property REIT Limited
Incorporated in the Republic of South Africa
Registration number 2015/168454/06
Share code: SSS ISIN ZAE000208963
Approved as a REIT by the JSE
(“Stor-Age” or the “Company”)


DEALINGS IN SECURITIES BY DIRECTORS


Executive Directors          :   Gavin Lucas
                                 Steven Horton
                                 Stephen Lucas
Company                      :   Stor-Age Property REIT Limited
Date of transaction          :   23 November 2021
Nature of transaction        :   Extension of an off-market loan facility agreement (“loan
                                 facility”) of R58 500 000 entered into with Investec Bank
                                 Limited as disclosed in the Company’s annual financial
                                 statements for the year ended 31 March 2021.

                                 The loan facility has a 36-month term, bears interest at the
                                 prime overdraft rate less 0.75% and is secured by the pledge
                                 of Stor-Age ordinary shares held by companies and trusts
                                 related to the executive directors (“the related entities”).

                                 At the date of this announcement, the total Stor-Age ordinary
                                 shares held by the related entities and the executive
                                 directors is 31 362 704.

                                  The outstanding balance on the loan facility at the date of
                                  this announcement is R37 786 250 (“outstanding balance”).

                                  Based on the closing share price of R14.17 on 23 November
                                  2021, the outstanding balance is sufficiently covered by
                                  2 666 637 Stor-Age ordinary shares held by the related
                                  entities.

Class of securities            :  Ordinary shares
Number of shares pledged       :  16 513 761 (based on four times cover of the loan facility of
                                  R58 500 000)
Deemed value of pledged shares :  R234 500 000
Value of transaction           :  R58 500 000
Nature of interest             :  Indirect beneficial
Clearance obtained             :  Yes


Cape Town
24 November 2021

Sponsor
Investec Bank Limited

Date: 24-11-2021 01:27:00
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