ACCELERATE PROPERTY FUND LIMITED - Update in respect of the Related Party Settlement Agreement and Category 1 Transaction

Update in respect of the Related Party Settlement Agreement and Category 1 Transaction

ACCELERATE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2005/015057/06)
JSE share code: APF
ISIN: ZAE000185815
("Accelerate" or "the Company")


UPDATE IN RESPECT OF THE RELATED PARTY SETTLEMENT AGREEMENT AND CATEGORY 1 TRANSACTION


Shareholders are referred to the announcement released on the Stock Exchange News Service ("SENS") on 8 July
2024, in terms of which shareholders are advised that Accelerate, Azrapart Proprietary Limited, the developer of
the Fourways Mall Shopping Centre and Mr Michael Nicolas Georgiou ("Mr Georgiou") have entered into a
composite settlement agreement ("Settlement Agreement") of the respective claims of Accelerate against Mr
Georgiou and the entities under the control of Mr Georgiou and the claims by Mr Georgiou and the entities under
the control of Mr Georgiou against Accelerate.

Shareholders are hereby advised that the suspensive conditions in the Settlement Agreement were not fulfilled
on time and as a result the Settlement Agreement is of no force and effect. In this regard, the Company will
engage with the various parties to the Settlement Agreement in order to conclude a new agreement on the same
or substantially the same terms as the Settlement Agreement ("New Agreement"), which would include an
extension of the time period for the fulfilment of the suspensive conditions, and shareholders will be notified of
further developments in this regard in due course.


Fourways
27 November 2024

Corporate Advisor and Transaction Sponsor

Bravura Capital (Pty) Ltd

Date: 27-11-2024 05:22:00
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