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STENPROP LIMITED ANNOUNCES INVESTOR ROADSHOW FOR PROPOSED CAPITAL RAISE
Hamilton, Bermuda: 20 February 2015 – Stenprop Limited (“the Company”) announces an investor roadshow for proposed capital raise as follows:
Shareholders are referred to the announcement released on Monday, 9 February 2015 (the “announcement”) wherein the Company advised shareholders of transactions the Company had concluded, as well as details of other potential transactions.
STENPROP plans to raise up to EUR35 million (equivalent to approximately ZAR462 million) of equity in order to fund the opportunities detailed in the announcement; bring in a range of institutional investors to complement the current shareholder base (made up almost exclusively of private clients from the Stenham Group); and improve liquidity in STENPROP’s shares on the JSE. Accordingly, the Company will embark on a series of investor meetings in South Africa starting on Monday, 23 February 2015.
The investor presentation, which contains forward looking statements and statements in relation to the prospects of the Company, is available on the Company’s website www.stenprop.com.
Paul Arenson, STENPROP CEO, commented: “The capital raised will be deployed to fund immediate opportunities to acquire prime growth assets in the Berlin residential market as well as a West End London office property. This is in line with our strategy to develop a portfolio with an optimal balance of growth and income assets.”
“We look forward to bringing on board a range of South African institutional investors to complement our current shareholder base and improve our profile as we migrate towards a JSE Main Board listing in the next twelve months.”
STENPROP has a primary listing on the Bermuda Stock Exchange and a secondary listing on the Alternative Exchange of the JSE Limited.
20 February 2015
Corporate advisor, bookrunner and JSE sponsor:
Java Capital
Bermuda Stock Exchange sponsor:
Appleby Securities (Bermuda) Ltd
Bermuda Stock Exchange sponsor:
Appleby Securities (Bermuda) Ltd