Enhanced Investments - Financial Portal

APFE - Notification of the Voting Results in Respect of the Request for Written Consent of the Secured Noteholders

Published: 2022-12-15 08:40:26 ET

                                                                                                                                             Accelerate Property Fund Limited
                                                                                                                                                 Management Office 1st Floor
                                                                                                                                               Cedar Square Shopping Centre
                                                                                                                                                                   Willow Ave
                                                                                                                                                                    Fourways
                                                                                                                                                                Johannesburg
                                                                                                                                                                         2055
                                                                                                                                                            Tel: 010 001 0790



Accelerate Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2005/015057/06)
Company code: APFE
Bond code: APF07         ISIN: ZAG000152141
Bond code: APF09         ISIN: ZAG000152760
Bond code: APF14         ISIN: ZAG000171075
Bond code: APF16         ISIN: ZAG000176967
(Approved as a REIT by the JSE)
(“Accelerate” or the “Issuer”)


NOTIFICATION OF THE VOTING RESULTS IN RESPECT OF THE REQUEST FOR WRITTEN CONSENT OF THE SECURED NOTEHOLDERS

Unless otherwise defined herein, capitalised terms shall have the same meaning as set forth in the Consent Request (as defined below).

Secured Noteholders are referred to the notice of request for written consent released on SENS on 16 November 2022 (the Consent Request), with the deadline date for
the submission of votes in respect of the Consent Request being 17h00 on 14 December 2022. The following Extraordinary Resolutions were included in the Consent
Request for consideration by the Secured Noteholders:

   Extraordinary Resolution No. 1:

   “THAT the respective Secured Noteholders of each of the Senior Secured Notes consent to the amendment and restatement of the Additional Terms and Conditions of
   the relevant Applicable Pricing Supplements (collectively, the Applicable Pricing Supplements) relating to the APF07 Senior Secured Notes, the APF09 Senior Secured
   Notes, the APF14 Senior Secured Notes and the APF16 Senior Secured Notes, in terms of which the provisions relating to the redemption in the event of a breach of the
                                                                                                                                                                      1
   financial covenants, as set out in paragraph 2 of Appendix B (Additional Terms and Conditions) in each Applicable Pricing Supplement, are amended in accordance with
   revisions contained in Annexures B to E of the Consent Request.”

   Extraordinary Resolution No. 2:

   “THAT the Trustee be authorised to enter into any documentation or to take any necessary steps to give effect to the consent specified in Extraordinary Resolution 1."

In this regard, the Issuer confirms the voting results from the Consent Request, in relation to the total nominal amount issued by the Issuer under each of the Senior
Secured Notes, were as follows:

 Stock Code       Extraordinary      Total nominal        Debt securities       Debt securities        Votes abstained as     Votes carried for     Votes against the
                  Resolution         amount of all debt   voted on disclosed    voted on disclosed     a percentage           the resolution as a   resolution as a
                                     securities           as a number           as a percentage                               percentage            percentage

 APF07                   1              R32 233 000.00        R32 233 000.00                100.00%                  0.00%               100.00%                  0.00%
                         2              R32 233 000.00        R32 233 000.00                100.00%                  0.00%               100.00%                  0.00%
 APF09                   1             R182 000 000.00       R182 000 000.00                100.00%                  0.00%               100.00%                  0.00%
                         2             R182 000 000.00       R182 000 000.00                100.00%                  0.00%               100.00%                  0.00%
 APF14                   1             R275 000 000.00       R240 500 000.00                 87.45%                  0.00%                87.45%                  0.00%
                         2             R275 000 000.00       R240 500 000.00                 87.45%                  0.00%                87.45%                  0.00%
 APF16                   1             R134 000 000.00       R123 500 000.00                 92.16%                  0.00%                92.16%                  0.00%
                         2             R134 000 000.00       R123 500 000.00                 92.16%                  0.00%                92.16%                  0.00%

The resolutions for each Senior Secured Note have been passed and the effective date of such amendments is the date of approval of the amendments, 14 December
2022.


15 December 2022

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)




                                                                                                                                                                            2

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.