Broad-based Black Economic Empowerment

Commitment Statement

As the leading and largest self storage company in South Africa, Stor-Age commits to making a real difference in the South African economy. This is done by implementing sustainable business transformation and employment diversification plans as part of its transformation plan, in order to achieve key milestones and maintain compliance status in terms of the Property Sector Transformation Charter.

The Property Sector Transformation Charter and Codes were gazetted and legislated on 9 June 2017 and became effective for property owning companies for all full year-ends completed after this date.

Objectives

The strategic business imperatives for implementing a broad-based strategy that delivers on this commitment ensures that:

• Priority elements of the Property Sector codes are the primary focus
• Benefits (and risks) of equity ownership and participation in management control are extended to groups that were previously excluded
• Meaningful job opportunities are created and skills are developed in the communities in which we operate
• As a supplier, the preferential procurement status of customers are impacted positively and
• The Company’s reputation as a responsible corporate citizen and JSE-listed entity are enhanced

Delivery

The transformation plan includes tangible milestones to be achieved, in order to address the requirements of the following Codes and maintain and improve compliance:

• Code 100: Ownership
• Code 200A: Management Control
• Code 200B: Employment Equity
• Code 300: Skills Development
• Code 400: Employment Equity

In accordance with Appendix 1 to Section 11 of the JSE Listings Requirements, Stor-Age’s Annual Compliance Report, in terms of section 13G(2) of the Act, is available here.