ACCELERATE PROPERTY FUND LIMITED - Finalisation announcement and results of the general meeting

Finalisation announcement and results of the general meeting

 ACCELERATE PROPERTY FUND LIMITED
 (Incorporated in the Republic of South Africa)
 Registration Number: 2005/015057/06
 LEI: 378900D514788C447E45
 Share Code: APF ISIN: ZAE000185815
 ("the Company" or "APF")
 (Approved as a REIT by the JSE)


 NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
 STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR ANY OTHER JURISDICTION WHERE EXTENSION OR
 MAKING THE RIGHTS OFFER WOULD BE UNLAWFUL OR IN CONTRAVENTION OF APPLICABLE LAW. THIS
 ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE UNITED STATES OR
 ANY OTHER JURISDICTION


 FINALISATION ANNOUNCEMENT AND RESULTS OF THE GENERAL MEETING

 1.    INTRODUCTION

      1.1   Shareholders of APF ("Shareholders") are referred to the announcement published on SENS
            on Friday, 12 April 2024 ("Declaration Announcement") wherein Shareholders were advised
            of APF's intention to raise R200 million by way of a fully underwritten renounceable rights
            offer ("Rights Offer") to qualifying Shareholders ("Qualifying Shareholders"), of 500 000 000
            ordinary shares issued at R0.40 per share ("Rights Offer Shares") in the authorised share
            capital of APF ("APF Shares"), in the ratio of 38,58416 Rights Offer Shares for every 100 APF
            Shares held at the close of business on Friday, 24 May 2024.
      1.2   Shareholders are advised that:
            -      the Company has now received all necessary Shareholder and board approvals and
                   accordingly the Rights Offer and underwriting agreement have become
                   unconditional;
            -      the Company has received formal approval of the Rights Offer Circular ("Circular")
                   from the Issuer Regulation Division of the JSE Limited and all conditions have been
                   fulfilled;
            -      500 000 000 ordinary shares are intended to be issued at R0.40 per share, in the
                   authorised share capital of APF and based on the current APF share register,
                   ordinary shares will be issued in the ratio of 38,59528 Rights Offer Shares for every
                   100 APF Shares held at the close of business on Friday, 24 May 2024; and
            -      there have been no changes to the salient terms of the Rights Offer and to the
                   salient dates and times in relation to the Rights Offer, as announced in the
                   Declaration Announcement.
      1.3   Accordingly, the Rights Offer will be implemented in accordance with the terms and the
            salient dates and times contained in the Declaration Announcement and included in the
            Circular.


 2.    RESULTS OF THE GENERAL MEETING

       Details of the results of voting at the general meeting are as follows:
       -     Total number of issued ordinary shares ("Shares"): 1,340,323,952
       -     Total number of issued Shares net of treasury shares: 1,295,494,922 ("GM Total Voteable
             Shares")
       -     Total number of issued Shares which were voted in person or represented by proxy:
             1 154 617 472 Shares, being 86,14% of the total issued Shares and 89,13% of the GM Total
             Voteable Shares ("Voted Shares").


 Special resolution number 1: Authority pursuant to sections 41(1), 41(3)

 Number of shares     Percentage of         For** (%)           Against** (%)      Abstained* (%)
 voted                voteable shares*
 1 154 601 597        89,12%                85,87%              14,13%             0,00%


 Ordinary resolution number 1: Issue of shares for the sole purpose of implementing the rights offer

 Number of shares     Percentage of         For** (%)           Against** (%)        Abstained* (%)
 voted                voteable shares*
 1 154 617 472        89,13%                85,87%              14,13%               0,00%


 Ordinary resolution number 2: Mandatory offer and waiver

 Number of shares     Percentage of         For^^ (%)          Against^^ (%)         Abstained^ (%)
 voted                voteable shares^                       
 738 218 130          83,97%                77,90%             22,10%                0,00%


 *  In relation to the 1 295 494 922 voteable shares.
 ** In relation to the 1 154 617 472 shares present/represented by proxies at the GM.
 ^  In relation to the 879 111 455 voteable shares for ordinary resolution number 2.
 ^^ In relation to the 738 234 005 shares present/represented by proxies at the GM for ordinary
    resolution number 2.


 The rights offer circular is available on the APF website:
 https://www.acceleratepf.co.za/investorcentre/#Circulars




 Fourways
 14 May 2024


 Corporate Advisor and Transaction Sponsor: Bravura Capital (Pty) Limited

Date: 14-05-2024 04:00:00
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