ACCELERATE PROPERTY FUND LTD - Modification to the notice of annual general meeting

Modification to the notice of annual general meeting

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)


MODIFICATION TO THE NOTICE OF ANNUAL GENERAL MEETING

Shareholders are referred to the announcements published on SENS on
23 June 2014 and 30 June 2014, which included details of the
company’s first annual general meeting, scheduled to be held at
Accelerate’s registered office, in the main boardroom, Cedar Square
Shopping Centre, Management Office, 1 st Floor, Cnr Willow Avenue and
Cedar Road, Fourways, Johannesburg on Tuesday, 29 July 2014 at 10:00
(“AGM”).

On 30 June 2014 and 03 July 2014, respectively, the company
distributed a notice of AGM (“Notice”) and an addendum thereto
(“Addendum”), which set out the matters to be considered and, if
deemed fit, the adoption, with or without modification, of the
shareholder special and ordinary resolutions as contained in the
Notice and Addendum, at the AGM.

Shareholders are advised that ordinary resolution number 5, placing
the unissued authorised ordinary shares (“shares”) of the company
under the control of the directors, has been modified as follows:

  - limiting such authority to allot and issue new shares in
    respect of vendor settlements only;
  - the number of shares that may in be issued, in aggregate in
    any one financial year, is limited to 10% of the total number
    of shares in issue at the beginning of each financial year;
    and
  - the maximum discount permitted, in respect of vendor
    settlements, will be 5% of the weighted average traded price
    of the shares in question, measured over the 30 business days
    prior to the date of each issue of new shares or the 30
    business days prior to the date the directors resolve to issue
    such new shares.

The date, time and location of the AGM remain unchanged.


Johannesburg
23 July 2014

Sponsor
KPMG Services (Pty) Limited

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