STOR-AGE PROPERTY REIT LIMITED - Notice to Shareholders in terms of section 45(5) of the Companies Act

Release Date: 03/09/2018 12:00
Code(s): SSS
 
Wrap Text
Notice to Shareholders in terms of section 45(5) of the Companies Act

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”)


NOTICE TO SHAREHOLDERS IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT,
2008 (“the Act”) OF RESOLUTIONS ADOPTED BY THE BOARD OF DIRECTORS
AUTHORISING THE COMPANY TO PROVIDE FINANCIAL ASSISTANCE TO RELATED
COMPANIES AND ENTITIES


Shareholders are reminded that, at the Annual General Meeting of shareholders of the
Company held on 23 August 2018, Special Resolution Number 2: General authority to
provide financial assistance to related companies and entities, was passed by the requisite
majority.

In accordance with section 45(5)(a) of the Act, notice is hereby given that the board of
directors of the Company agreed on 23 August 2018, in principle, to provide financial
assistance to its wholly owned subsidiary Roeland Street Investments Proprietary Limited
(“RSI”) by way of securing and/or providing loan facilities to RSI from time to time. Such
assistance will, in aggregate, exceed one-tenth of one percent of the Company’s net worth
at the date of adoption of the resolution. The Company does not have any employees
represented by a trade union.

In terms of section 45(3)(b) of the Act, the Board is satisfied that:
•     immediately after providing the aforementioned financial assistance, the Company
      would satisfy the solvency and liquidity test as set out in section 4 of the Act; and
•     the terms under which the financial assistance is proposed to be given under the
      resolution are fair and reasonable to the Company.


Cape Town
3 September 2018

Sponsor
Questco Corporate Advisory Proprietary Limited



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