ACCELERATE PROPERTY FUND LIMITED - Appointment of Independent Non-Executive Director

Appointment of Independent Non-Executive Director

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


APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

Further to the announcement released on SENS on 5 October 2020 relating to the
resignation of Dr Gert Cruywagen from the board of directors of Accelerate (“board”),
shareholders and noteholders of Accelerate are advised that the board has appointed
Mr Derick van der Merwe as an independent non-executive to the board with effect
from 1 February 2021.

In addition, Derick has been appointed as a member of the Audit and Risk Committee,
and as Chairman of the Investment Committee, effective 1 February 2021.

Derick is a CA (SA). He is an associate member of the Chartered Institute of Building,
and past president of the South African Chapter of FIABCI (the International Real
Estate Federation). Derick had a 28-year career in property, which included managing
the planning and development of the V&A Waterfront, and holding various executive
roles culminating in Chief Executive Officer of the V&A Waterfront. Derick has
continued consulting to the property industry since 2008, both locally and
internationally, and has extensive experience serving on boards, audit and risk
committees and finance committees.

This appointment strengthens the property, corporate governance and financial skills
on the board and the board looks forward to Derick’s contribution to the ongoing
success of the Company.


Fourways
19 January 2021


Equity Sponsor
The Standard Bank of South Africa Limited


Debt Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)

Date: 19-01-2021 05:30:00
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