Stor-Age directors reduce pledged share holdings

Stor-Age Property REIT Limited has disclosed a reduction in the number of ordinary shares pledged as security for loan facilities from Investec Bank Limited by entities connected to its executive directors. This follows a renegotiation of loan facility agreements, as detailed in a SENS announcement dated 27 November 2024 and in note 26.3 of the company's annual financial statements for the year ended 31 March 2025.

Stor-Age Property Holdings (Pty) Ltd ("SPH"), whose ultimate beneficiaries include Gavin Lucas, Stephen Lucas, and Steven Horton, has seen the number of pledged shares for a R30 500 000 loan facility decrease. The previous pledge of 8 031 841 Stor-Age ordinary shares held by SPH and Stor-Age Property Holdings Trust has been reduced to 5 809 524 Stor-Age ordinary shares held by SPH.

Similarly, Castle Rock Investments (Pty) Ltd ("CRI"), with Gavin Lucas and Stephen Lucas as ultimate beneficiaries, has reduced its pledged shares for a R28 050 500 loan facility. The number of Stor-Age ordinary shares held by CRI and pledged has decreased from 7 399 998 to 5 333 333.

Clearance for these transactions has been obtained. All other specifics outlined in the SENS announcement of 27 November 2024 remain unchanged. Investec Bank Limited serves as the Equity Sponsor, and Nedbank Corporate and Investment Banking is the Debt Sponsor.