ACCELERATE PROPERTY FUND LIMITED ACCELERATE PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2005/015057/06)
Share code: APF ISIN: ZAE000185815 ("Accelerate", "APF" or the "Company")
RESULTS OF THE SCRIP DISTRIBUTION AND CASH DIVIDEND ALTERNATIVE
Shareholders are referred to the finalisation information announcement released on 13 July 2022 relating to the Cash Dividend and the Share Re-Investment Alternative to ordinary shareholders ("Shareholders") recorded in the register of the Company at the close of business on the Record Date, being Friday, 22 July 2022 ("the Record Date").
As communicated, Shareholders not electing to receive the Cash Dividend in respect of all or part of their shareholding were entitled to receive that number of Scrip Distribution Shares determined as per the below, as at the Record Date:
South Africa resident | Non-resident | |
Dividend per share (cents) | 21.98051 | 21.98051 |
Dividend tax per dividend (cents) | - | 4.396102 |
Total net dividend per share (cents) | 21.98051 | 17.58441 |
Re-Investment Price (R) | 0.7 | 0.7 |
New shares issued per 100 shares | 31.40073 | 25.12058 |
Where a Shareholder's entitlement to Scrip Distribution Shares, calculated in accordance with the above ratio, gave rise to a fraction of a new ordinary share, such fraction of a new ordinary share was rounded down to the nearest whole number, resulting in allocations of whole ordinary shares and a cash payment for the fraction.
In terms of the Scrip Distribution, 252 827 108 new ordinary shares were issued today to Shareholders who did not elect to receive the Cash Dividend in respect of all or part of their shareholding, resulting in a capitalisation of the distributable retained profits of the Company of R 176 979 063. Shareholders recorded in the register of the Company at the close of business on the Record Date holding 166 906 883 ordinary shares elected to receive the gross Cash Dividend of 21.98051 cents per ordinary share, resulting in a total gross Cash Dividend of R 36 686 984 which has been paid out of the distributable retained profits of the Company.
Cheques will be posted to certificated shareholders and accounts credited by CSDP or broker to dematerialised shareholders electing the Cash Distribution today, Monday, 25 July 2022.
Share certificates will be posted to certificated shareholders and accounts will be credited by CSDP or broker to dematerialised shareholders electing the Share Re-investment Alternative on or about Wednesday, 27 July 2022.
Johannesburg
25 July 2022
Sponsor
The Standard Bank of South Africa Limited
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Accelerate Property Fund Ltd. published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 15:14:09 UTC.
