ACCELERATE PROPERTY FUND LIMITED - APFE - Notification of the Voting Results in Respect of the Request for Written Consent of the Secured Noteholders

APFE - Notification of the Voting Results in Respect of the Request for Written Consent of the Secured Noteholders

Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
Bond code: APF07         ISIN: ZAG000152141
Bond code: APF09         ISIN: ZAG000152760
Bond code: APF14         ISIN: ZAG000171075
Bond code: APF16         ISIN: ZAG000176967
(Approved as a REIT by the JSE)
(“Accelerate” or the “Issuer”)


NOTIFICATION OF THE VOTING RESULTS IN RESPECT OF THE REQUEST FOR WRITTEN CONSENT OF THE SECURED NOTEHOLDERS

Unless otherwise defined herein, capitalised terms shall have the same meaning as set forth in the Consent Request (as defined below).

Secured Noteholders are referred to the notice of request for written consent released on SENS on 16 November 2022 (the Consent Request), with the deadline date for
the submission of votes in respect of the Consent Request being 17h00 on 14 December 2022. The following Extraordinary Resolutions were included in the Consent
Request for consideration by the Secured Noteholders:

   Extraordinary Resolution No. 1:

   “THAT the respective Secured Noteholders of each of the Senior Secured Notes consent to the amendment and restatement of the Additional Terms and Conditions of
   the relevant Applicable Pricing Supplements (collectively, the Applicable Pricing Supplements) relating to the APF07 Senior Secured Notes, the APF09 Senior Secured
   Notes, the APF14 Senior Secured Notes and the APF16 Senior Secured Notes, in terms of which the provisions relating to the redemption in the event of a breach of the
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   financial covenants, as set out in paragraph 2 of Appendix B (Additional Terms and Conditions) in each Applicable Pricing Supplement, are amended in accordance with
   revisions contained in Annexures B to E of the Consent Request.”

   Extraordinary Resolution No. 2:

   “THAT the Trustee be authorised to enter into any documentation or to take any necessary steps to give effect to the consent specified in Extraordinary Resolution 1."

In this regard, the Issuer confirms the voting results from the Consent Request, in relation to the total nominal amount issued by the Issuer under each of the Senior
Secured Notes, were as follows:

 Stock Code       Extraordinary      Total nominal        Debt securities       Debt securities        Votes abstained as     Votes carried for     Votes against the
                  Resolution         amount of all debt   voted on disclosed    voted on disclosed     a percentage           the resolution as a   resolution as a
                                     securities           as a number           as a percentage                               percentage            percentage

 APF07            1                  R32 233 000.00       R32 233 000.00        100.00%                0.00%                  100.00%               0.00%
                  2                  R32 233 000.00       R32 233 000.00        100.00%                0.00%                  100.00%               0.00%
 APF09            1                  R182 000 000.00      R182 000 000.00       100.00%                0.00%                  100.00%               0.00%
                  2                  R182 000 000.00      R182 000 000.00       100.00%                0.00%                  100.00%               0.00%
 APF14            1                  R275 000 000.00      R240 500 000.00       87.45%                 0.00%                  87.45%                0.00%
                  2                  R275 000 000.00      R240 500 000.00       87.45%                 0.00%                  87.45%                0.00%
 APF16            1                  R134 000 000.00      R123 500 000.00       92.16%                 0.00%                  92.16%                0.00%
                  2                  R134 000 000.00      R123 500 000.00       92.16%                 0.00%                  92.16%                0.00%

The resolutions for each Senior Secured Note have been passed and the effective date of such amendments is the date of approval of the amendments, 14 December
2022.


15 December 2022

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)




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Date: 15-12-2022 07:40:00
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