National Storage REIT Completes Placement

National Storage REIT (NSR) has yesterday successfully completed a fully underwritten placement to institutional and professional investors of 33,333,334 new ordinary stapled securities at a price of $1.50 per stapled security raising $50 million (Placement).

The issue price represents a 5.4% discount to the last closing price of NSR stapled securities on Tuesday 12 December 2017 (being the last trading day prior to the announcement of the capital raising).

Settlement of the Placement securities is scheduled to occur on Monday 18 December 2017 with allotment to occur on Tuesday, 19 December 2017.

The purpose of the capital raising is to execute acquisition opportunities and strengthen the NSR balance sheet.

Following the successful completion of the Placement, NSR stapled securities will recommence trading on ASX today and NSR requests the trading halt be lifted on opening of the market today.

Morgan Stanley Australia Securities Limited and JP Morgan Australia Limited acted as the underwriters and joint lead managers for the Placement.

NSR confirms that the Placement was undertaken utilising its placement capacity in accordance with Listing Rule 7.1 and did not require securityholder approval.


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