ACCELERATE PROPERTY FUND LIMITED - Announcement relating to Property Acquisition transfer of properties and increase in voting control
APF 201512090038A
Announcement relating to Property Acquisition, transfer of properties and increase in voting control
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)
Announcement relating to Property Acquisition, transfer of
properties and increase in voting control
Shareholders are referred to the announcement dated 20 November 2014
in terms of which shareholders were advised that Accelerate had agreed
terms with relevant vendors for the Property Acquisitions.
*Defined terms in the 20 November announcement apply similarly
to this announcement.
Shareholders are accordingly provided with the following
updates in relation to the Property Acquisitions:
a) 3 properties that formed part of Portfolio 1 have been
transferred to Accelerate and 15 962 251 Accelerate
ordinary shares have been issued to the Portfolio 1
vendors;
b) Mr. Georgiou and the Portfolio 1 vendors have entered
into a voting pool agreement and will vote as a block;
and
c) As a result of the issue of shares to the Portfolio 1
vendors, the shares under the control of the voting pool
will increase to 36.4% and, accordingly, there is no
change in control of Accelerate.
Fourways
9 November 2015
Sponsor
The Standard Bank of South Africa Limited
Legal advisors
Glyn Marais Inc.
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