To view the PDF file, sign up for a MySharenet subscription.

STOR-AGE PROPERTY REIT LIMITED - Close of private placement and clearing price for the retail offer

Release Date: 02/11/2015 07:05
Code(s): SSS     PDF:  
Wrap Text
Close of private placement and clearing price for the retail offer

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


CLOSE OF THE PRIVATE PLACEMENT AND CLEARING PRICE FOR THE RETAIL OFFER


1. Introduction

As disclosed in the prospectus dated 26 October 2015 (“Prospectus”) in respect of the listing of Stor-
Age shares in the “Speciality REITs” sector on the main board of the JSE, approximately
82.72 million shares in the Company have been offered, through a private placement, to selected
institutional investors and high net worth individuals (“Private Placement”).

2. Close of the Private Placement

   2.1. Potential investors in Stor-Age are advised that the Private Placement in relation to the
        subscription offer closed on Friday, 30 October 2015.

   2.2. Stor-Age is pleased to announce that in light of the strong demand, the Private Placement
        was significantly oversubscribed. As detailed in the Prospectus, the directors of the
        Company (“Directors”) reserve the right to issue such additional shares as they determine
        appropriate.

   2.3. The results of the Private Placement and allocations will be communicated to successful
        applicants in accordance with the timetable in paragraph 4.

3. Retail Offer

   3.1. As disclosed in the Prospectus, the Directors reserve the right to allocate approximately
        1.5 million shares, or such additional shares as they determine in their discretion, to
        qualifying investors, being past tenants, tenants, staff members and/or any other private
        investor to the satisfaction of the Directors (“Retail Offer”) (“Qualifying Investors”).

   3.2. Stor-Age is pleased to announce that the Retail Offer will open today and will close at
        12:00pm on Friday 6, November 2015.

   3.3. The clearing price for the purposes of applications in respect of the Retail Offer is R10.00.
        Qualifying Investors are reminded that the minimum investment is 500 shares or R5 000 per
        applicant.
                                                                                                    
   3.4. The results of the Retail Offer and allocations will be communicated to successful applicants
        in accordance with the timetable in paragraph 4.

4. Salient dates

Potential investors are referred to the salient dates below in respect of the listing of Stor-Age shares
in the “Speciality REITs” sector on the main board of the JSE:

                                                                                                2015
Opening date of the Retail Offer (09:00)                                         Monday, 2 November
Closing date of the Retail Offer (12:00)                                         Friday, 6 November
Results of the Private Placement and the Retail Offer released on                Monday, 9 November
SENS on or about
Results of the Private Placement and the Retail Offer released in                Tuesday, 10 November
the Press on or about
Allocation of shares communicated to successful applicants on or                 Tuesday, 10 November
before
Proposed date of listing on the JSE from the commencement of                     Monday, 16 November
trade on or about (09:00)




Cape Town
2 November 2015


Corporate Advisor, Bookrunner and Sponsor
Questco


Attorneys
Cliffe Dekker Hofmeyr Inc



                                                                                                           2

Date: 02/11/2015 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story