Accelerate Property Fund rights offer approved, general meeting results

Accelerate Property Fund (JSE:APF) has finalized its rights offer and announced the results of its general meeting. Shareholders approved the fully underwritten renounceable rights offer intended to raise R100 million, as outlined in the announcement of May 30, 2025. The rights offer involves the issuance of 250,000,000 ordinary shares at a price of R0.40 per share, in the ratio of 13.92374 rights offer shares for every 100 APF shares held on July 11, 2025. The company has received all necessary shareholder and board approvals and formal approval from the JSE Limited's Issuer Regulation Division. At the general meeting, 1,304,283,098 shares were voted, representing 72.64% of total voteable shares, with 100% voting in favor of the special resolution authorizing actions pursuant to sections 41(1). The rights offer circular is available on the company's website. Bravura Capital (Pty) Limited acted as corporate advisor and transaction sponsor.