Wrap Text
Secondary offering of Accelerate shares
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)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, INTO OR IN
THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. THIS ANNOUNCEMENT DOES NOT
CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE UNITED STATES OR ANY OTHER
JURISDICTION.
Secondary offering of Accelerate shares
Shareholders are referred to the announcement released on SENS earlier today regarding the issue
and allotment of new Accelerate ordinary shares to the Michael Family Trust in terms of a conditional
deferred payment.
The Michael Family Trust is launching an accelerated bookbuild offering of up to 27 344 829 Accelerate
ordinary shares (the “Offer Shares”) to qualifying institutional investors only (the “Offer”). The Offer
Shares represent approximately 4.1% of the total number of Accelerate shares in issue.
The Offer Shares are being offered at an initial price range of R5.50 to R5.65.
The proceeds from the sale of the Offer Shares are to be utilised by the Michael Family Trust to facilitate,
inter alia, the development of an additional 90 000m² of retail space at the Fourways Mall Shopping
Centre, which is owned by Accelerate.
After the Offer, the Michael Family Trust will continue to hold 40 924 783 shares, representing 6.1% of
the total number of Accelerate shares in issue. The Michael Family Trust together with Fourways
Precinct (Pty) Ltd, solely owned by Michael Georgiou, will in aggregate continue to hold 256 063 772
shares, representing 38.3% of the total number of Accelerate shares in issue.
The book for the Offering will open with immediate effect and is expected to close today, 17 September
2014. Pricing and allocations will be announced as soon as practicable following the closing of the book.
Rand Merchant Bank, a division of FirstRand Bank Limited (“RMB”), is the bookrunner for the Offer.
Johannesburg
17 September 2014
Bookrunner
Rand Merchant Bank (A division of FirstRand Bank Limited)
Sponsor
KPMG Services (Pty) Ltd
This announcement is not for publication or distribution or release, directly or indirectly, in the United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
securities referred to herein 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 securities is being made in the
United States. This announcement does not and is not intended to constitute an offer to the public in
South Africa in terms of Chapter VI of the South African Companies Act, 1973 (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 is for information purposes only and in member states of the European Economic
Area (other than the United Kingdom) is directed only at persons who are qualified investors (as defined
in article 2(1)(e) of EU directive 2003/71/EC (the "Prospectus Directive") and the relevant implementing
rules and regulations adopted by each Member State). In the United Kingdom, this announcement is
directed only at the following persons: investment professionals falling within article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); and high net
worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a)
to (d) of the Order.
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 RMB or by any of its 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 securities. Any investment decision to purchase Offer Shares must
be made solely on the basis of publicly available information which has not been independently verified
by RMB.
In connection with the Offer, RMB is acting only for the Michael Family Trust and no one else, and will
not be responsible to anyone other than the Michael Family Trust for providing the protections offered
to clients of RMB nor for providing advice in relation to the Offer.
Date: 17/09/2014 07:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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