ACCELERATE PROPERTY FUND LIMITED - Results of the General Meeting

Results of the General Meeting

                                     ACCELERATE PROPERTY FUND LIMITED
                                       (Incorporated in the Republic of South Africa)
                                             (Registration Number 2005/015057/06)
                                             Share code: APF ISIN: ZAE000185815
                                               (Approved as a REIT by the JSE)
                                              (“Accelerate” or “the Company”)



                                       RESULTS OF THE GENERAL MEETING



Accelerate shareholders (“Accelerate Shareholders”) are referred to the announcement published on the stock exchange news
service (“SENS”) of the JSE Limited (“JSE”) on 25 October 2016, regarding the posting of a circular (“Circular”) including a
notice of general meeting (“General Meeting”) of Accelerate Shareholders and are hereby advised that at the General Meeting
held today, Tuesday, 22 November 2016, the ordinary and special resolutions contained in the notice of General Meeting, were
passed by the requisite majority of votes of Accelerate Shareholders present in person or represented by proxy at the General
Meeting.

The total number of shares voted at the General Meeting, in person or by proxy, amounted to 716 837 201 (“Voted Shares”)
representing 83% of the issued share capital of Accelerate (“Accelerate Shares”) registered on the record date for the General
Meeting being 11 November 2016.

Details of the results of voting at the General Meeting are as follows:



                                                    Votes in favour               Votes against
                                                                                                        Abstentions as a
                                                                 As a                                     percentage
                                                                                            As a
                                                            percentage of                                Accelerate of
                                                Number                      Number      percentage of
                                                             Voted Shares                                   Shares
                                                                                        Voted Shares
                                                                    
  
 Ordinary resolution number 1:
    140 000 000 authorised but unissued
    Accelerate Shares are placed under         714 692 380     99.7%       2 083 394        0.3%              0.0%
    control of the directors


    Ordinary resolution number 2:
    Any director is authorised to do all
    such things and sign all documents
    necessary to give effect to the
    resolutions proposed at the General        716 767 574     100.0%        8 200          0.0%              0.0%
    Meeting at which this ordinary
    resolution is proposed

    Special resolution number 1:
    Accelerate entitled to grant direct of
    indirect financial assistance, as          655 823 174     91.5%       60 805 738       8.5%              0.0%
    contemplated in section 45 of the
    Companies Act, to a director

.

Johannesburg

22 November 2016
Financial Advisor and Transaction Sponsor

Investec Bank Limited


Sponsor
The Standard Bank of South Africa Limited

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