ACCELERATE PROPERTY FUND LIMITED - Results of the Rights Offer

Results of the Rights Offer

ACCELERATE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2005/015057/06
LEI: 378900D514788C447E45
Share Code: APF ISIN: ZAE000185815
("the Company" or "APF")
(Approved as a REIT by the JSE)



NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR ANY OTHER JURISDICTION WHERE EXTENSION
OR MAKING THE RIGHTS OFFER WOULD BE UNLAWFUL OR IN CONTRAVENTION OF APPLICABLE LAW.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE UNITED
STATES OR ANY OTHER JURISDICTION


RESULTS OF THE RIGHTS OFFER


1.    INTRODUCTION

Shareholders are referred to the declaration and finalisation announcements published on the Stock
Exchange News Service ("SENS") on Friday, 30 May 2025 and Tuesday, 1 July 2025, respectively.
Capitalised terms used, but not otherwise defined in this announcement, shall have the meaning
assigned thereto in the rights offer circular published Friday, 30 May 2025.

Shareholders were advised, inter alia, of APF's intention to raise R100 million by way of a fully
underwritten renounceable rights offer to Qualifying Shareholders, of 250 000 000 Rights Offer Shares
at a Subscription Price of R0.40 per Rights Offer Share, in the ratio of 13,92374 Rights Offer Shares for
every 100 APF Shares held as at the close of business on Friday, 11 July 2025.

In terms of the Rights Offer underwriting agreement, Investec Bank Limited (registration number
1969/004763/06), the Committed Subscriber, committed to subscribe for its pro-rata allocation of the
Rights Offer Shares and the remaining Rights Offer Shares were underwritten by K2016336084 (South
Africa) Proprietary Limited, the Underwriter.

The APF board of directors is pleased to advise that APF has successfully raised a total amount of R100
million pursuant to the Rights Offer. The Committed Subscriber subscribed for its pro-rata allocation of
the Rights Offer Shares. The Underwriter subscribed for 46 067 881 Rights Offer Shares for a value of
R18 427 152.40.

2.      RESULTS OF THE RIGHTS OFFER

The Rights Offer closed at 12:00 on Friday, 25 July 2025, the results of which are set out below:

                                                   Number of Rights Offer                Value of Rights
                                                                    Shares        R0.40 per Rights Offer
                                                                                                    Share
 Rights Offer Shares available for                            250 000 000               R100 000 000.00
 subscription


 Certificated Number of Rights Offer Shares                             0                         R0.00
 Taken Up
 Dematerialised Number of Rights Offer                        203 932 119                R81 572 847.60
 Shares Taken Up
 Total Number of Rights Exercised                             203 932 119                R81 572 847.60


 Number of rights available for                                46 067 881                R18 427 152.40
 Underwriter's portion


3.      ISSUE OF RIGHTS OFFER SHARES

3.1       Qualifying Dematerialised Shareholders (or their Renouncees or the purchasers of their
Letters of Allocation) who have followed their Rights and/or have been allocated excess Rights Offer
Shares, will have their Broker, CSDP, nominee, agent or trustee accounts debited with the relevant
aggregate Subscription Price and credited with the relevant Rights Offer Shares, on Monday, 28 July
2025.

3.2       Qualifying Certificated Shareholders (or their Renouncees or the purchasers of their Letters of
Allocation), who followed their Rights, and who:

             -   have an account with a Broker or CSDP and elected "Option 1" on Form D of the Form
                 of Instruction, will have their account at their Broker or CSDP credited with the relevant
                 Rights Offer Shares, on Monday, 28 July 2025;
             -   do not have an account with a Broker or CSDP and elected "Option 2" on Form D of
                 the Form of Instruction, will be issued a statement of allocation in respect thereof as
                 soon as possible and will be required to appoint a Broker or CSDP to enable the Rights
                 Offer Shares to be made available to them; and
             -   do not wish to hold the Rights Offer Shares subscribed for in Dematerialised form and
                 elected "Option 3" on Form D of the Form of Instruction, the Documents of Title in
                 respect thereof will be posted to such Qualifying Certificated Shareholders, at their
                 risk, as soon as possible.




Fourways
28 July 2025


Corporate Advisor and Transaction Sponsor: Bravura Capital (Pty) Limited

Date: 28-07-2025 03:55:00
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