STENPROP LIMITED - DEALINGS IN SECURITIES BY DIRECTORS AND BY THE COMPANY SECRETARY

Hamilton, Bermuda — 11 June 2018 – In a filing with the Bermuda Stock Exchange (“BSX”), Stenprop Limited (the “Company” or “Stenprop”; Ticker: STP.BH) issued an announcement about dealings in securities by directors and by the company secretary. The full filing stated:

Shareholders are advised of the following information relating to the acceptance of nil cost options and market value options awarded on 7 June 2018 under the Stenprop Limited Long Term Incentive Plan (“Long Term Incentive Plan”). The nil cost options will vest on 7 June 2021 subject to certain vesting conditions having been met, including performance targets set by the remuneration committee prior to the awards being made. Assuming that the performance targets are met in full at the end of the performance period, the nil cost options will result in the issue of 1,423,460 shares. The market value options will vest in three tranches on 31 March 2019, 31 March 2020 and 31 March 2021 and once fully vested will result in the issue of 99 685 shares subject to the payment of the exercise price of £1.10 per share:
Name of director:    Paul Arenson
Transaction date:    7 June 2018
Class of securities:    Nil cost options
Number of securities:    487 096
Nature of transaction:

Nature and extent of director’s interest:
Clearance to deal received:     Off-market acceptance of nil cost options in terms of the Long Term Incentive Plan
Direct beneficial
Yes

Name of director:    Patsy Watson
Transaction date:    7 June 2018
Class of securities:    Nil cost options
Number of securities:    468 182
Nature of transaction:

Nature and extent of director’s interest:
Clearance to deal received:     Off-market acceptance of nil cost options in terms of the Long Term Incentive Plan
Direct beneficial
Yes

Name of director:    Julian Carey
Transaction date:    7 June 2018
Class of securities:    Nil cost options
Number of securities:    468 182
Nature of transaction:

Nature and extent of director’s interest:
Clearance to deal received:     Off-market acceptance of nil cost options in terms of the Long Term Incentive Plan
Direct beneficial
Yes

Name of company secretary:    Sarah Bellilchi
Transaction date:    7 June 2018
Class of securities:    Market value options
Number of securities:    99 685
Nature of transaction:

Nature and extent of company secretary’s interest:
Clearance to deal received:     Off-market acceptance of market value options in terms of the Long Term Incentive Plan
Direct beneficial

Yes

Shareholders are further advised of the following information relating to the acceptance of nil cost options awarded on 7 June 2018 under the Stenprop Limited Amended Deferred Share Bonus Plan (“Deferred Bonus Plan”). One third of these nil cost options vested immediately, with the second third vesting on 31 March 2019 and the last third vesting on 31 March 2020. Once fully vested, they will result in the issue of 324 321 shares:

Name of director:    Paul Arenson
Transaction date:    7 June 2018
Class of securities:    Nil cost options
Number of securities:    113 800
Nature of transaction:

Nature and extent of director’s interest:
Clearance to deal received:     Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan
Direct beneficial
Yes

Name of director:    Patsy Watson
Transaction date:    7 June 2018
Class of securities:    Nil cost options
Number of securities:    109 381
Nature of transaction:

Nature and extent of director’s interest:
Clearance to deal received:     Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan
Direct beneficial
Yes

Name of director:    Julian Carey
Transaction date:    7 June 2018
Class of securities:    Nil cost options
Number of securities:    82 036
Nature of transaction:

Nature and extent of director’s interest:
Clearance to deal received:     Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan
Direct beneficial
Yes

Name of company secretary:    Sarah Bellilchi
Transaction date:    7 June 2018
Class of securities:    Nil cost options
Number of securities:    19 104
Nature of transaction:

Nature and extent of company secretary’s interest:
Clearance to deal received:     Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan
Direct beneficial        Yes
 
 
Stenprop has a primary listing on the Main Board of the JSE and a secondary listing on the BSX.
 
11 June 2018
 
 

JSE sponsor
Java Capital

Bermuda Stock Exchange sponsor
Estera Securities (Bermuda) Limited