ACCELERATE PROPERTY FUND LIMITED - Update On The Disposal By Accelerate Of Cherrylane Shopping Centre

Update On The Disposal By Accelerate Of Cherrylane Shopping Centre

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


UPDATE ON THE DISPOSAL BY ACCELERATE OF CHERRYLANE SHOPPING CENTRE

PREVIOULSY ANNOUNCED TRAANSACTION NOT PROCEEDING

Shareholders are referred to the announcement released on SENS on Tuesday, 11 June 2024 wherein
shareholders were advised that APF has entered into a Sale of Letting Enterprise Agreement to dispose
of Cherry Lane Shopping Centre, Erf 437 Nieuw Muckleneuk Township, Pretoria ("Cherry Lane" or the
"Property").

Shareholders are hereby advised that the disposal of the Property to QSPACE (Pty) Limited will no
longer be proceeding and the agreement has been terminated. The Company is however in discussion
with several other potential purchasers regarding the Property and will advise shareholders and
noteholders via SENS should agreement be reached.

Johannesburg
8 July 2024

Equity sponsor
The Standard Bank of South Africa Limited

Debt sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 08-07-2024 12:10:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.