Stoneweg Europe Stapled Trust Issues Acquisition Fee in Stapled Securities

Key Developments & Investor Highlights

• Stoneweg Europe Stapled Trust (SERT) has announced the issuance of 326,797 stapled securities to its Trustee-Manager as payment for an acquisition fee.
• The issuance is linked to an investment in AiOnX, a fund managed by a controlling shareholder of the Trustee-Manager.
• Securities were issued at €1.5300 per stapled security, calculated based on the volume weighted average price over 10 business days on the SGX-ST.
• These newly issued securities represent 0.059% of the total issued stapled securities of SERT as of 12 November 2025.
• The acquisition fee paid is 1.0% of the acquisition price for the investment, as stipulated in the Stoneweg European BT Deed of Trust.
• Importantly, stapled securities issued for interested party transactions (such as this) cannot be sold within one year from the date of issuance.

Potential Price Sensitive Information for Shareholders

• This transaction involves an interested party (the fund AiOnX is managed by a controlling shareholder), which could raise governance and conflict of interest considerations among investors.
• The additional issuance of stapled securities, though small in proportion, may cause minor dilution for existing shareholders.
• The restriction on selling these securities for a year helps mitigate immediate market impact but signals ongoing alignment between management and the interests of SERT.
• Given the direct link to an acquisition, investors may wish to monitor the performance and strategic impact of the AiOnX investment on SERT’s broader portfolio.
• No immediate public offering or sale of these securities in the United States, EEA, Canada, Japan, or Australia is planned.

About Stoneweg Europe Stapled Trust

SERT, formerly known as Cromwell European REIT, is a stapled group consisting of Stoneweg European Real Estate Investment Trust (SEREIT) and Stoneweg European Business Trust. Managed by Stoneweg EREIT Management Pte. Ltd. and Stoneweg EBT Management Pte. Ltd., SERT is listed on the Singapore Exchange (SGX) and has a portfolio valued at €2.3 billion across 100 predominantly freehold properties in major European gateway cities. The total lettable area stands at approximately 1.7 million sqm, serving over 800 tenant-customers.

SERT’s investment mandate focuses on income-producing commercial real estate, with at least 75% exposure to Western Europe and the logistics/light industrial and office sectors. Currently, 86% of the portfolio is in Western Europe and 56% in logistics/light industrial, with plans to further increase this sector weighting.

The sponsor, SWI Group (comprising Stoneweg, Icona Capital, its subsidiaries and associates), holds a 28% stake in SERT’s stapled securities. SWI Group is a prominent platform in real estate, data centres, credit, and financial sectors, managing over €10 billion in assets and operating in 15 European countries, the US, and Singapore.

Important Notices and Risks

• This announcement is for informational purposes and does not constitute an offer, invitation, or solicitation of securities in any jurisdiction.
• The value of SERT units and derived income may fluctuate; units are not guaranteed by the Manager or Sponsor.
• The announcement contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from expectations.
• Investors should not place undue reliance on forward-looking statements and are reminded that SERT units may only be traded on SGX-ST; listing does not guarantee liquidity.
• Distribution of this announcement outside Singapore may violate securities laws of other jurisdictions.

Disclaimer

This article is for informational purposes only and is not intended as investment advice or an offer to buy or sell any securities. Investors are advised to conduct their own due diligence and consult with their financial advisers before making any investment decisions. Past performance is not indicative of future results. The information presented may contain forward-looking statements, which are subject to risks, uncertainties, and assumptions. Actual outcomes may differ materially. The issuer does not guarantee the accuracy or completeness of the information contained herein.

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