ACCELERATE PROPERTY FUND LTD - Results of the accelerated bookbuild offering

Results of the accelerated bookbuild offering

Accelerate Property Fund Limited
Incorporated in the Republic of South Africa
Registration number 2005/015057/06
Share code: APF
ISIN: ZAE000185815
(“Accelerate” or “the Company”)
(Approved as a REIT by the JSE)

RESULTS OF THE ACCELERATED BOOKBUILD OFFERING

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN. THIS ANNOUNCEMENT DOES
NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE UNITED STATES OR ANY
OTHER JURISDICTION

Accelerate is pleased to announce that it has successfully closed its accelerated bookbuild offering of
new Accelerate shares (the “Offering”).

In light of strong demand, the capital raising was increased to R500 million. 76 569 678 new shares
were placed with qualifying investors at a price of R6.53 per share. The issue price represents a
discount of 5% to the 30-day volume weighted average price of Accelerate shares as at 30 July 2015.

Subject to approval by the JSE Limited, listing and trading of 61 255 743 new shares is expected to
commence at 09h00 on Friday, 7 August 2015.

The issue of the remaining 15 313 935 shares to Fourways Precinct Proprietary Limited will be
subject to shareholder approval in terms of section 41(1) of the Companies Act, 2008 (Act 71 of 2008)
as amended.

Rand Merchant Bank, (a division of FirstRand Bank Limited) and Investec Bank Limited, are acting as
joint bookrunners for the Offering (“the Bookrunners”).

Fourways

31 July 2015

Transaction Sponsor
Rand Merchant Bank, (A division of FirstRand Bank Limited)

This announcement is not for publication or distribution or release, directly or indirectly, in the United
States of America (including its territories and possessions, any state of the United States and the
District of Columbia). This announcement does not constitute or form part of an offer or solicitation of
an offer to purchase or subscribe for securities in the United States or any other jurisdiction. The Offer
Shares have not been and will not be registered under the United States Securities Act of 1933, as
amended (the 'Securities Act'), and may not be offered or sold, directly or indirectly, in the United
States, absent registration or an exemption from, or transaction not subject to, the registration
requirements of the Securities Act. No public offering of Offer Shares is being made in the United
States.

Neither this announcement nor the Offering constitutes or is intended to constitute an offer to the
public in South Africa in terms of the South African Companies Act 71 of 2008 (as amended). In South
Africa, the invitation to apply for Offer Shares in terms of the Offering is only open to (i) persons who
are acting as principal and who apply for Offer Shares at a minimum acquisition cost of ZAR



 
 


1,000,000, as contemplated in section 96(1)(b) of the South African Companies Act 71 of 2008 (as
amended), or (ii) persons who comply with the requirements set out in section 96(1)(a) of the South
African Companies Act 71 of 2008 (as amended).

Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or
indirectly in or into the United States, Canada, Australia or Japan.

This announcement has been issued by and is the sole responsibility of Accelerate. No representation
or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or
liability is or will be accepted by the Bookrunners or by any of their respective affiliates or agents as
to, or in relation to, the accuracy or completeness of this announcement or any other written or oral
information made available to or publicly available to any interested party or its advisers, and any
liability therefore is expressly disclaimed.

This announcement does not purport to identify or suggest the risks (direct or indirect) which may be
associated with an investment in the Offer Shares. No representation or warranty is made by
Accelerate or the Bookrunners or Investec in connection with the Offer Shares or Accelerate. Any
investment decision to apply for and subscribe for Offer Shares in the Offering must be made solely
on the basis of publicly available information, which information has not been independently verified
by the Bookrunners.




 

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