RECEIPT OF NON-BINDING INDICATIVE PROPOSAL

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  1. 71.5k
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    The Board of National Storage REIT (NSR) notes the recent media speculation about a
    potential takeover proposal for NSR.
    The Board of NSR wishes to advise its securityholders that it has received a confidential nonbinding indicative proposal from Gaw Capital Partners for 100% of the issued stapled
    securities of NSR.
    Discussions are at this stage preliminary and subject to a number of conditions and there is
    no certainty that the discussions will lead to a final recommended offer.
    The Board advises NSR securityholders to take no action at this time in respect of their
    securityholdings in NSR.
    NSR will continue to keep securityholders appropriately informed of any developments in
    accordance with its continuous disclosure requirements.
    NSR remains fully committed to acting in the best interests of, and maximising value for, NSR
    securityholders.
    NSR has engaged J.P. Morgan as its financial advisor and Allens as its legal advisor.

    courtesy of Bell Direct
    =======================================================================================
    ( DYOR )

    i do not hold this share

    ( never got into my target range ,, so far )

  2. 71.5k
    Posts

    RECEIPT OF UNSOLICITED NON-BINDING INDICATIVE PROPOSAL
    FROM PUBLIC STORAGE
    As previously announced on 23 January 2020, National Storage REIT (NSR) received a
    confidential non-binding indicative proposal from Gaw Capital Partners (GAW) to acquire
    100% of the issued stapled securities of NSR (GAW indicative proposal). In a follow up
    announcement on 13 February 2020, NSR advised that discussions are ongoing with GAW in
    relation to its indicative proposal.
    NSR announces that it has also received an unsolicited non-binding indicative proposal from
    Public Storage (NYSE: PSA) to acquire 100% of the issued stapled securities of NSR for a cash
    price of $2.40 per stapled security by way of inter-conditional company and trust schemes
    (Public Storage indicative proposal). The offer price will be reduced by any distribution
    declared or paid by NSR after today, excluding the already declared December 2019
    distribution of $0.047 per stapled security to be paid on 28 February 2020.
    The Public Storage indicative proposal is subject to a number of customary conditions
    including completion of confirmatory due diligence, obtaining necessary board and
    regulatory approvals and execution of definitive legal documentation however the Board of
    NSR notes that it is not subject to a funding condition. The Board advises that, after careful
    consideration of the Public Storage indicative proposal, it has commenced discussions with
    Public Storage and resolved to grant Public Storage access to due diligence.
    The Board notes that the price per NSR security offered under Public Storage indicative
    proposal is superior to the price per NSR security offered under Gaw indicative proposal.
    There is no certainty that the discussions with either GAW or Public Storage will lead to a
    binding proposal or a proposal that the Board of NSR will recommend to NSR securityholders.
    The Board of NSR is committed to acting in the best interests of, and maximising value for,
    NSR securityholders. The Board advises NSR securityholders to take no action at this time in
    respect of their securityholdings in NSR. NSR will continue to keep securityholders
    appropriately informed of any developments in accordance with its continuous disclosure
    requirements.

    courtesy of Bell Direct
    =======================================================================================
    ( DYOR )

    i do not hold this share

    ( never got into my target range ,, so far )

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