STOR-AGE PROPERTY REIT LIMITED - Update in respect of acquisitions

Update in respect of acquisitions

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”)


UPDATE IN RESPECT OF ACQUISITIONS

Shareholders are referred to the announcements released on SENS on:

•       10 October 2017 in which they were advised that Stor-Age had entered into an
        agreement with the shareholders of DanCor Properties Proprietary Limited (“DanCor”)
        in terms of which Stor-Age would acquire 99.99% of the shares in DanCor. DanCor
        conducts its self-storage business from four locations under the name StorTown with
        properties situated in Brackenhill (two properties), Durban CBD and Durban North; and

•       5 September 2017 and 18 September 2017 in which they were advised that Stor-Age
        had entered into a sale and purchase agreement in terms of which Stor-Age would
        acquire, by way of a series of inter-dependent transactions, 97.3% of the issued share
        capital of Betterstore Self Storage Holdings Limited (“Storage King Group”) from CS
        Capital Partners III, LP, a fund managed by Cabot Square Capital LLP, and the
        management of the Storage King Group,

and are advised that all the conditions precedent in regard to these acquisitions have been
satisfied, and accordingly they became effective on 2 November 2017.


Cape Town
3 November 2017

Sponsor
Questco Corporate Advisory (Pty) Ltd




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