ACCELERATE PROPERTY FUND LTD - Fulfilment of outstanding conditions precedent regarding the acquisition by Accelerate of PCP and Wanooka

Fulfilment of outstanding conditions precedent regarding the acquisition by Accelerate of PCP and Wanooka

Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APF
ISIN: ZAE000185815
(“Accelerate” or “the Company”)
(REIT status approved)

FULFILMENT OF OUTSTANDING CONDITIONS PRECEDENT REGARDING THE ACQUISITION BY ACCELERATE OF PARKTOWN CRESCENT 
PROPERTIES PROPRIETARY LIMITED (“PCP”) AND WANOOKA PROPERTIES PROPRIETARY LIMITED (“WANOOKA”)

INTRODUCTION

Accelerate shareholders are referred to the SENS announcement dated 16 February 2015, wherein Accelerate
shareholders were advised that Accelerate had entered into an agreement with the shareholders of Wanooka and PCP
to acquire the entire issued ordinary share capital of PCP and 30% of the issued ordinary share capital of Wanooka,
representing the remaining shares in Wanooka not already owned by PCP (“the Acquisitions”).

The Acquisitions were subject to the fulfilment of the following conditions precedent:

    -   South African Competition Authorities’ approval;
    -   The leases with Wanooka becoming effective on the terms as set out in the SENS of 16 February 2015; and
    -   There being no material adverse changes between the date of signature of the Acquisition agreements and
        the closing date of the Acquisitions.


FULFILMENT OF CONDITIONS PRECEDENT

The Accelerate board of directors is pleased to announce that the outstanding conditions precedent to the
Acquisitions, have been fulfilled and accordingly the Acquisition is now unconditional.

Fourways

14 May 2015



Merchant bank and Transaction Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Sponsor
KPMG Services Proprietary Limited

Legal and competition advisors
Glyn Marais Inc.

Reporting accountants
Ernst & Young Advisory Services Proprietary Limited

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