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ACCELERATE PROPERTY FUND LIMITED - Results of the Rights Offer
2024/06/11 15:00:00Download PDF Stock report
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NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY,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 SENS on Friday, 12 April 2024 and Tuesday, 14 May 2024,
respectively, wherein Shareholders were advised of, inter alia, APF's
intention to raise R200 million by way of a fully underwritten renounceable
rights offer to Qualifying Shareholders, of 500 000 000 Rights Offer Shares
at a Subscription Price of 40c per Rights Offer Share, in the ratio of
38.59528 Rights Offer Shares for every 100 APF Shares held as at the close
of business on Friday, 24 May 2024. The Rights Offer was fully underwritten
by K2016336084 (South Africa) Proprietary Limited ('Underwriter'). The
Board is pleased to advise that APF has successfully raised a total amount
of R200 million pursuant to the Rights Offer. The Underwriter took up
135 059 908 Rights Offer Shares for a value of R54 023 963.20.
2. RESULTS OF THE RIGHTS OFFER
The Rights Offer closed at 12:00 on Monday, 10 June 2024, the results of
which are set out below:
Number of Rights Value of Rights
Offer Shares R0.40 per Rights
Offer Share
Rights Offer Shares available 500 000 000 R200 000 000.00
for subscription
Certificated Number of Rights 0 R0.00
Offer Shares Taken Up
Dematerialised Number of 364 940 092 R145 976 036.80
Rights Offer Shares Taken Up
Total Number of Rights 364 940 092 R145 976 036.80
Exercised
Number of rights available 135 059 908 R54 023 963.20
for 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 Tuesday, 11 June 2024.
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 Tuesday, 11 June 2024;
- 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
11 June 2024
Corporate Advisor and Transaction Sponsor: Bravura Capital (Pty) Limited
Date: 11-06-2024 03:00:00
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