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Stenprop puts REIT conversion, London listing up for shareholder vote

Stenprop Ltd.'s proposal to convert into a U.K. real estate investment trust will be up for a vote at a special general shareholder meeting scheduled for March 7.

The diversified real estate property company said its plan to list on the London Stock Exchange will help pave the way for it to become a leading U.K. multilet industrial business.

In line with the listing, Stenprop plans to migrate its jurisdiction to Guernsey from Bermuda and adopt new articles of incorporation.

The company expects the REIT migration to take effect March 23. The record date for the special shareholder meeting is March 2.

Stenprop will delist from the Bermuda Stock Exchange and keep its primary listing on the Johannesburg Stock Exchange after the London listing.