Wrap Text
Posting of circular relating to the placing of unissued shares under the control of directors
ACCELERATE PROPERTY FUND
Approved as a REIT by the JSE
(Incorporated in the Republic of South Africa)
(Registration number 2005/015057/06)
Share Code: APF
ISIN: ZAE000185815
(“Accelerate” or “the Company”)
POSTING OF CIRCULAR RELATING TO THE PLACING OF UNISSUED SHARES UNDER THE
CONTROL OF DIRECTORS PURSUANT TO THE KPMG ACQUISITION
Shareholders are referred to the announcement released on the Stock Exchange News Service (“SENS”) on
16 February 2015, in which they were advised that Accelerate has entered into an agreement with certain of
the directors and former directors of KPMG Incorporated and KPMG Services Proprietary Limited
(“Acquisition Agreement”), in terms of which the Company proposes to acquire the entire issued share
capital of Parktown Crescent Properties Proprietary Limited (“PCP”) and the remaining 30% of the issued
share capital of Wanooka Properties Proprietary Limited (“Wanooka”) not already held by PCP (“KPMG
Acquisition”). Shareholders are advised that, in terms of the Acquisition Agreement, the Company may elect
to settle the KPMG Acquisition purchase price of R850 million (less outstanding debt obligations and net
current liabilities of PCP and Wanooka) by way of a fully-funded debt package or through a combination of
the fully-funded debt package and the issue of Accelerate shares pursuant to a renounceable vendor
consideration placement.
Shareholders are further advised that a circular, setting out, inter alia, the terms of the KPMG Acquisition and
incorporating a Notice of General Meeting convening a general meeting of Accelerate shareholders
(“General Meeting”) in order to consider and, if deemed fit, to pass the ordinary resolution necessary to
authorise the placing of an additional 80,000,000 Accelerate shares under the control of the directors will be
posted to shareholders today, Tuesday, 5 May 2015 (“the Circular”).
The salient dates pertaining to the General Meeting, also contained in the Circular, are as follows:
EVENT 2015
Record date for Accelerate shareholders to be eligible to receive the Friday, 24 April
Circular
Circular posted to Accelerate shareholders on Tuesday, 5 May
Last day to trade Accelerate shares in order to be eligible to participate Friday, 22 May
in and vote at the General Meeting
Record date in order to be eligible to participate in and vote at the Friday, 29 May
General Meeting
Last date for receipt of the forms of proxy for the General Meeting by Thursday, 4 June
10:00 on
General Meeting to be held at 10:00 at Accelerates’ registered office, Friday, 5 June
being Cedar Square Shopping Centre, Management Office, 1st Floor,
Corner Willow Avenue and Cedar Road, Fourways, Gauteng, on
Results of the General Meeting released on SENS on Friday, 5 June
Results of the General Meeting published in the press on Monday, 8 June
Fourways
5 May 2015
Merchant bank and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Sponsor
KPMG Services Proprietary Limited
Legal advisors
Glyn Marais
Date: 05/05/2015 09:25:00 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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