Reported Earnings • Dec 05
First half 2026 earnings released: FFO per share: R0.03 (vs R0.006 loss in 1H 2025) First half 2026 results: FFO per share: R0.03 (up from R0.006 loss in 1H 2025). Revenue: R430.0m (up 15% from 1H 2025). Funds from operations (FFO): R57.5m (up R68.6m from 1H 2025). FFO margin: 13% (up from net loss in 1H 2025). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Duyuru • Nov 27
Accelerate Property Fund Limited to Report First Half, 2026 Results on Nov 28, 2025 Accelerate Property Fund Limited announced that they will report first half, 2026 results on Nov 28, 2025 Duyuru • Oct 15
Accelerate Property Fund Limited Announces Cessation of Mn Georgiou as Non-Executive Director, Effective 15 October 2025 Accelerate Property Fund Limited announced that at the annual general meeting of Shareholders held on 15 October 2025, as Mr. MN Georgiou retired by rotation as a non-executive director at the AGM and was not
subsequently re-elected as a non-executive director by the requisite majority of votes of Shareholders, Mr. MN Georgiou has ceased to be a director of the Company with effect from the closing of the AGM,
with Shareholders having voted not to fill the resulting vacancy at the AGM. Duyuru • Aug 30
Accelerate Property Fund Limited, Annual General Meeting, Oct 15, 2025 Accelerate Property Fund Limited, Annual General Meeting, Oct 15, 2025. Location: accelerate`s registered office, cedar square shopping centre, management office, 1st floor, cnr willow avenue and cedar road, fourways, johannesburg South Africa Duyuru • Aug 29
Accelerate Property Fund Limited Announces Board and Committee Changes Accelerate Property Fund Limited announced changes to the board and its committees, following Mr. Derick van der Merwe's resignation with effect from 10 July 2025: Mr. James Templeton was appointed as Chairman of the Investment Committee on 28 August 2025; The Remuneration Committee and Nominations Committee were combined into one committee called the Remuneration and Nominations Committee on 28 August 2025. Mr. Abel Mawela and Mr. James Templeton will continue as the Chairpersons of the new combined committee for their respective remuneration and nominations sections. Dr Kolosa Madikizela, currently a member of the Nominations Committee, will continue as a member of the new committee, and Mr. James Day has stepped down from the Nominations Committee as the new combined committee only requires three members. Mr. Donnovan Pydigadu was appointed as an independent non-executive director, Lead Independent Director, Chairman of the Audit and Risk Committee and member of the Investment committee with effect from 1 September 2025. Mr. Pydigadu is a chartered accountant and spent several years in investment banking at Nedbank corporate property finance and, was the co-founder of the Sanlam real estate finance business unit within Sanlam capital markets. Prior to joining the Accelerate board, Mr. Pydigadu served as head of investor relations and Chief Operations Officer of Fortress Real Estate Investments Limited. This appointment strengthens the financial skills on the board and provides additional support to the audit and risk committee in discharging its duties. The board confirms that the appointment of Mr. Pydigadu was made in accordance with the company's nominations policy and welcomes Mr. Pydigadu to the board. Duyuru • Aug 28
Dorpstraat Capital Growth Fund Proprietary Limited and Property House Group Investments (Pty) Ltd entered into a sale of letting enterprise agreement to acquire The Buzz and Waterford from Accelerate Property Fund Limited (JSE:APF) for approximately ZAR 220 million. Dorpstraat Capital Growth Fund Proprietary Limited and Property House Group Investments (Pty) Ltd entered into a sale of letting enterprise agreement to acquire The Buzz and Waterford from Accelerate Property Fund Limited (JSE:APF) for approximately ZAR 220 million on August 26, 2025. The purchase consideration will be paid through an initial cash consideration of ZAR 200 million against registration of transfer of the Property. Additionally, the Purchasers shall pay ZAR 5 million to Accelerate on receipt of the approved buildings plans for Waterford and ZAR 10 million on proclamation by the local authority for the rezoning of an erf forming part of The Buzz from “special” to “retail” within 30 days of such approvals being obtained. The purchase consideration for the Transaction is attributable to The Buzz as to ZAR 150 million and Waterford as to ZAR 65 million. Accelerate intends to apply the proceeds of the disposal to the reduction of debt.
The net operating income (excluding straight- lining rental income adjustments) of The Buzz and Waterford, based on the unaudited financial statements of Accelerate (prepared in terms of IFRS) for the year ended 31 March 2025, is c. ZAR 20.8 million and ZAR 7.9 million respectively.
The Transaction remains subject to unconditional Competition Authority approval. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings have declined by 4.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Earnings have declined by 4.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (R772.2m market cap, or US$43.5m). Reported Earnings • Aug 11
Full year 2025 earnings released: R0.74 loss per share (vs R0.48 loss in FY 2024) Full year 2025 results: R0.74 loss per share (further deteriorated from R0.48 loss in FY 2024). Revenue: R760.2m (down 7.2% from FY 2024). Net loss: R1.27b (loss widened 103% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Duyuru • Jul 30
Accelerate Property Fund Limited to Report Fiscal Year 2025 Results on Aug 04, 2025 Accelerate Property Fund Limited announced that they will report fiscal year 2025 results at 4:50 PM, South Africa Standard Time on Aug 04, 2025 Board Change • Jul 22
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director James Day was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jul 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 5.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (R987.7m market cap, or US$55.6m). New Risk • Jun 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 5.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (R951.8m market cap, or US$53.3m). Duyuru • May 31
Accelerate Property Fund Limited has filed a Follow-on Equity Offering in the amount of ZAR 100 million. Accelerate Property Fund Limited has filed a Follow-on Equity Offering in the amount of ZAR 100 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: ZAR 0.4
Transaction Features: Rights Offering Duyuru • May 23
Accelerate Property Fund Limited to Report Fiscal Year 2025 Results on Jun 30, 2025 Accelerate Property Fund Limited announced that they will report fiscal year 2025 results at 4:50 PM, South Africa Standard Time on Jun 30, 2025 New Risk • Jan 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 5.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Significant insider selling over the past 3 months (R25m sold). Market cap is less than US$100m (R880.0m market cap, or US$47.2m). Duyuru • Jan 30
Accelerate Property Fund Limited Appoints James Day as A Non-Executive Director and Member of Its Audit and Risk Committee, Effective from 1 February 2025 Board of directors of Accelerate Property Fund Limited has appointed Mr. James Day as a non-executive director and member of its audit and risk committee with effect from 1 February 2025. Mr. Day is a Chartered Accountant (SA) with extensive international and local experience in the listed property sector, including key expertise in executing commercial asset acquisitions and developments, with various prior financial management and audit roles in South Africa, the United States and Australia. This appointment strengthens the financial skills on the board and provides additional support to the audit and risk committee in discharging its duties. Duyuru • Jan 23
Accelerate Property Fund Limited Announces Appointment of Mr. James Templeton as the Interim Chairman Accelerate Property Fund Limited announced that the appointment of Mr. James Templeton as the interim chairman of the Accelerate board of directors following the passing of Mr. Tito Mboweni on 12 October 2024, shareholders and noteholders are advised that the board has appointed Mr. James Templeton as a member of the remuneration committee, with immediate effect. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 39% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 5.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risks Significant insider selling over the past 3 months (R2.5b sold). Market cap is less than US$100m (R790.2m market cap, or US$41.9m). New Risk • Dec 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 39% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Earnings have declined by 19% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (39% increase in shares outstanding). Significant insider selling over the past 3 months (R2.5b sold). Market cap is less than US$100m (R862.0m market cap, or US$45.7m). Board Change • Oct 17
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Lead Independent Director Derick van der Merwe was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Sep 06
Investec Group (JSE:INL) acquired an additional minority stake in Accelerate Property Fund Limited (JSE:APF). Investec Group (JSE:INL) acquired an additional minority stake in Accelerate Property Fund Limited (JSE:APF) on September 4, 2024. Such that the total beneficial interest in the ordinary shares of the Company held by Investec amounts to 12.39% of the total issued ordinary shares of the Company.
Investec Group (JSE:INL) completed the acquisition of an additional minority stake in Accelerate Property Fund Limited (JSE:APF) on September 4, 2024. Duyuru • Aug 01
Accelerate Property Fund Limited, Annual General Meeting, Sep 09, 2024 Accelerate Property Fund Limited, Annual General Meeting, Sep 09, 2024. Location: accelerate`s registered office, cedar square shopping centre, management office, 1 st floor, cnr willow avenue and cedar road, fourways, johannesburg South Africa Reported Earnings • Jul 22
Full year 2024 earnings released: R0.48 loss per share (vs R0.52 loss in FY 2023) Full year 2024 results: R0.48 loss per share. Revenue: R819.5m (down 6.0% from FY 2023). Net loss: R624.7m (loss widened 5.1% from FY 2023). Duyuru • Jul 10
Accelerate Property Fund Limited to Report Fiscal Year 2024 Results on Jul 15, 2024 Accelerate Property Fund Limited announced that they will report fiscal year 2024 results at 4:50 PM, South Africa Standard Time on Jul 15, 2024 New Risk • Jul 05
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 37% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Significant insider selling over the past 3 months (R57m sold). Market cap is less than US$100m (R764.6m market cap, or US$42.0m). Duyuru • May 23
Investec Group acquired an unknown minority stake in Accelerate Property Fund Limited. Investec Group acquired an unknown minority stake in Accelerate Property Fund Limited on May 21, 2024. Investec Group completed the acquisition of an unknown minority stake in Accelerate Property Fund Limited on May 21, 2024. New Risk • Apr 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 37% per year over the past 5 years. Minor Risk Market cap is less than US$100m (R842.3m market cap, or US$45.2m). Reported Earnings • Dec 19
First half 2024 earnings released: R0.068 loss per share (vs R0.17 profit in 1H 2023) First half 2024 results: R0.068 loss per share (down from R0.17 profit in 1H 2023). Revenue: R415.9m (down 1.7% from 1H 2023). Net loss: R88.7m (down 152% from profit in 1H 2023). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • Dec 07
Accelerate Property Fund Limited Provides Distribution Guidance for the Period Ended 31 March 2023 Accelerate Property Fund Limited provided distribution guidance for the period ended 31 March 2023. Shareholders and noteholders were advised that the distribution per share for the period ended 31 March 2023 was expected to be greater than 15% lower than the distribution per share for the previous corresponding period due to the increase in the Company's number of shares in issue by approximately 26.5%. Duyuru • Nov 23
Accelerate Property Fund Limited Appoints Marelise De Lange as A Member of the Social Ethics and Transformation Committee The board of directors of Accelerate Property Fund Limited announced the appointment of Ms. Marelise de Lange as a member of the social ethics and transformation committee of the company with effect from 21 November 2023, to fill a vacancy on this committee. Marelise is a Chartered Accountant with experience in employment equity, broad-based black economic empowerment and environmental, social and governance matters from her previous CFO roles within the REIT sector. Duyuru • Aug 25
Sasol Pension Fund signed an expression of interest to acquire Eden Meander Shopping Centre situated on Erf 26207 from Accelerate Property Fund Limited (JSE:APF) for approximately ZAR 520 million. Sasol Pension Fund signed an expression of interest to acquire Eden Meander Shopping Centre situated on Erf 26207 from Accelerate Property Fund Limited (JSE:APF) for approximately ZAR 520 million on March 31, 2023. The final purchase price will be determined following the due diligence investigation. The proposed transaction is subject to entering into binding sale and purchase agreement, due diligence review, competition commission approval and approval of Sasol Pension Fund’s investment committee of the proposed transaction and Accelerate shareholder. The effective date for the proposed transaction is on or about November 30, 2023. It is the intention of Accelerate to apply the full proceeds of the proposed transaction to reduce debt and/or capital reinvestment into its core property portfolio. Duyuru • Aug 24
Sasol Pension Fund entered into an expression of interest Eden Meander Shopping Centre situated on Erf 26207 and together with vacant land on Erf 26832 from Accelerate Property Fund Limited (JSE:APF). Sasol Pension Fund entered into an expression of interest Eden Meander Shopping Centre situated on Erf 26207 and together with vacant land on Erf 26832 from Accelerate Property Fund Limited (JSE:APF) for ZAR 521 million on August 23, 2023. The final purchase price will be determined following the due diligence investigation. The transaction is subject to The Entering into a binding sale agreement by the parties, The satisfactory outcome of a due diligence investigation of the property, which includes the confirmation of all zoning and town-planning approval, Competition Commission approval, Approval of Sasol Pension Fund’s Investment Committee of the Proposed Transaction and Accelerate shareholder approval. The transaction is expected to be completed in November 2023. Duyuru • Aug 02
Accelerate Property Fund Limited Does not Declare Distribution for the Fiscal Year Ended March 31, 2023 Accelerate Property Fund Limited announced that board has elected not to declare a distribution for the fiscal year ended March 31, 2023. New Risk • Jul 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings have declined by 47% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (5.8% increase in shares outstanding). Market cap is less than US$100m (R1.11b market cap, or US$62.9m). Buying Opportunity • Jul 26
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be R1.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jul 20
Full year 2023 earnings released: R1.05 loss per share (vs R0.005 profit in FY 2022) Full year 2023 results: R1.05 loss per share (down from R0.005 profit in FY 2022). Revenue: R871.8m (down 8.0% from FY 2022). Net loss: R594.3m (down R598.6m from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Jun 24
Accelerate Property Fund Limited, Annual General Meeting, Aug 03, 2023 Accelerate Property Fund Limited, Annual General Meeting, Aug 03, 2023. Agenda: To consider approval of appointment of PwC as external auditors. New Risk • Jun 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Earnings have declined by 50% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (35% increase in shares outstanding). Market cap is less than US$100m (R1.17b market cap, or US$64.1m). Board Change • Apr 02
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Chairman Tito Mboweni was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 28
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Chairman Tito Mboweni was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Feb 15
CFO & Executive Director recently sold R707k worth of stock On the 10th of February, Demetrios Kyriakides sold around 809k shares on-market at roughly R0.87 per share. This transaction amounted to 61% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Demetrios has been a net seller over the last 12 months, reducing personal holdings by R2.3m. Duyuru • Feb 03
Hatfield Property Holdings (Pty) Limited. entered into a sale of letting enterprise agreement to acquire Erf 2043 Witkoppen Extension 91 from Accelerate Property Fund Limited (JSE:APF) for ZAR 80 million. Hatfield Property Holdings (Pty) Limited. entered into a sale of letting enterprise agreement to acquire Erf 2043 Witkoppen Extension 91 from Accelerate Property Fund Limited (JSE:APF) for ZAR 80 million on January 31, 2023. Accelerate Property Fund apply the proceeds to the reduction of debt and/or capital reinvestment. The transaction is expected to complete on March 2023. Duyuru • Jan 26
Accelerate Property Fund Limited Announces Resignation of Mr. Andrew Costa as Chief Operating Officer, Executive Director of the Board and as Member of the Investment Committee with Effect from March 31, 2023 Accelerate Property Fund Limited announced resignation of Mr. Andrew Costa as Chief Operating Officer with effect from 31 March 2023 to pursue opportunities outside of the Company. Mr. Costa will also step down as an executive director of the board and as a member of the investment committee, with effect from March 31, 2023. Board Change • Jan 10
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Chairman Tito Mboweni was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 17
First half 2023 earnings released: EPS: R0.17 (vs R0.038 loss in 1H 2022) First half 2023 results: EPS: R0.17 (up from R0.038 loss in 1H 2022). Revenue: R414.2m (down 27% from 1H 2022). Net income: R172.3m (up R208.5m from 1H 2022). Profit margin: 42% (up from net loss in 1H 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Aug 26
CFO & Executive Director recently sold R904k worth of stock On the 22nd of August, Demetrios Kyriakides sold around 900k shares on-market at roughly R1.00 per share. This was the largest sale by an insider in the last 3 months. Demetrios has been a seller over the last 12 months, reducing personal holdings by R2.2m. Upcoming Dividend • Jul 13
Upcoming dividend of R0.22 per share Eligible shareholders must have bought the stock before 20 July 2022. Payment date: 25 July 2022. Trailing yield: 17%. Within top quartile of South African dividend payers (8.9%). Higher than average of industry peers (9.5%). Duyuru • Jul 06
Accelerate Property Fund Limited, Annual General Meeting, Aug 03, 2022 Accelerate Property Fund Limited, Annual General Meeting, Aug 03, 2022, at 10:00 South Africa Standard Time. Location: main boardroom, Cedar Square Shopping Centre, Management Office, 1st Floor, Cnr Willow Avenue and Cedar Road, Fourways, Johannesburg South Africa Reported Earnings • Jun 29
Full year 2022 earnings released: EPS: R0.005 (vs R0.74 loss in FY 2021) Full year 2022 results: EPS: R0.005 (up from R0.74 loss in FY 2021). Revenue: R912.5m (down 1.4% from FY 2021). Net income: R4.35m (up R710.1m from FY 2021). Profit margin: 0.5% (up from net loss in FY 2021). Over the next year, revenue is forecast to grow 43% compared to a 11% decline forecast for the reits industry in South Africa. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Duyuru • Jun 29
Accelerate Property Fund Limited to Report Fiscal Year 2022 Results on Jun 28, 2022 Accelerate Property Fund Limited announced that they will report fiscal year 2022 results on Jun 28, 2022 Price Target Changed • Apr 27
Price target decreased to R3.55 Down from R4.08, the current price target is provided by 1 analyst. New target price is 241% above last closing price of R1.04. Stock is up 55% over the past year. The company posted a net loss per share of R0.74 last year. Duyuru • Apr 08
Dorpstraat Capital Growth Fund Proprietary Limited entered into a sale of letting enterprise agreement to acquire The Leaping Frog Shopping Centre from Accelerate Property Fund Limited (JSE:APF) for ZAR 130 million. Dorpstraat Capital Growth Fund Proprietary Limited entered into a sale of letting enterprise agreement to acquire The Leaping Frog Shopping Centre from Accelerate Property Fund Limited (JSE:APF) for ZAR 130 million on April 5, 2022. The closing of the Transaction is subject to the certain conditions precedent, including due diligence investigation, and is expected to be closed in May 2022. It is the intention of Accelerate to apply the full proceeds to the reduction of debt and/or reinvestment. Duyuru • Feb 01
Accelerate Property Fund Limited Changes to the Board of Directors and Board Committees Accelerate Property Fund Limited appointed Mr. TT Mboweni as an independent non-executive director and Chairman of Accelerate, effective 1 February 2022. Mr. TJ Fearnhead will step down as Chairman on the same date, due to the appointment of Mr. Mboweni. Securityholders are further advised that Mr. JF van der Merwe has been appointed as the lead independent non-executive director of Accelerate and Mr. J Templeton has been appointed as a non-executive director of Accelerate, both appointments effective 1 April 2022. In addition, the following changes to the board committees also effective 1 February 2022 will occur: Mr. TT Mboweni and Mr. JF van der Merwe will be appointed to the Nomination Committee. Mr. TT Mboweni will chair the committee. Mr. TJ Fearnhead and Mr. J Templeton will be appointed to the Audit and Risk Committee. Mr. TT Mboweni and Mr. JF van der Merwe will be appointed to the Remuneration Committee. Mr. AM Mawela will chair the committee. Recent Insider Transactions • Dec 04
CFO & Executive Director recently sold R547k worth of stock On the 30th of November, Demetrios Kyriakides sold around 488k shares on-market at roughly R1.12 per share. This was the largest sale by an insider in the last 3 months. This was Demetrios' only on-market trade for the last 12 months. Recent Insider Transactions • Dec 04
CFO & Executive Director recently sold R547k worth of stock On the 30th of November, Demetrios Kyriakides sold around 488k shares on-market at roughly R1.12 per share. This was the largest sale by an insider in the last 3 months. This was Demetrios' only on-market trade for the last 12 months. Reported Earnings • Nov 26
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: R0.038 loss per share (up from R0.068 loss in 1H 2021). Revenue: R568.3m (up 10% from 1H 2021). Net loss: R36.2m (loss narrowed 44% from 1H 2021). Revenue missed analyst estimates by 36%. Over the next year, revenue is forecast to grow 30%, compared to a 24% growth forecast for the industry in South Africa. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Recent Insider Transactions Derivative • Aug 25
CEO & Executive Director exercised options to buy R986k worth of stock. On the 23rd of August, Michael Georgiou exercised options to buy 1m shares at a strike price of around R0.65, costing a total of R712k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since September 2020, Michael's direct individual holding has increased from 292.88m shares to 295.43m. This was the only transaction from an insider over the last 12 months. Duyuru • Aug 06
An unknown buyer acquired an unknown stake in Accelerate Property Fund Limited (JSE:APF) from clients of Coronation Asset Management (Pty) Ltd. An unknown buyer acquired an unknown stake in Accelerate Property Fund Limited (JSE:APF) from clients of Coronation Asset Management (Pty) Ltd on August 4, 2021. After the transaction, Coronation Asset Management (Pty) Ltd holds no stake in Accelerate Property Fund Limited.
An unknown buyer completed the acquisition of an unknown stake in Accelerate Property Fund Limited (JSE:APF) from clients of Coronation Asset Management (Pty) Ltd on August 4, 2021. Reported Earnings • Jul 03
Full year 2021 earnings released: R0.74 loss per share (vs R0.90 loss in FY 2020) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: R742.7m (down 32% from FY 2020). Net loss: R705.7m (loss narrowed 22% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Duyuru • Mar 19
Accelerate Property Fund Limited Appoints Derick Van Der Merwe as Chairman of Investment Committee Accelerate Property Fund Limited announced that independent non-executive director of Accelerate, Mr. Derick van der Merwe, has been appointed as the Chairman of the Investment Committee, with immediate effect. Duyuru • Mar 14
Accelerate Property Fund Limited Announces Appointment of New Members to the Nominations Committee Accelerate Property Fund Limited announced that further to the announcement released on 9 March 2021 relating to the resignationof Mr. George Cavaleros from the board of directors of the Company, shareholders and noteholders are advised that independent non-executive directors of Accelerate, Ms Kolosa Madikizela and Associate Professor François Viruly, have been appointed as members of the Nominations Committee, with immediate effect. Executive Departure • Mar 10
Independent Non-Executive Director has left the company On the 5th of March, George Cavaleros' tenure as Independent Non-Executive Director ended after 1.8 years in the role. We don't have any record of a personal shareholding under George's name. A total of 3 executives have left over the last 12 months. Duyuru • Mar 09
Accelerate Property Fund Limited Announces Resignation of George Cavaleros as an Independent Non-Executive Director Accelerate Property Fund Limited advised that Mr. George Cavaleros has resigned as an independent non-executive director of Accelerate with effect from 5 March 2021 due to differences of opinion between Mr. Cavaleros and Accelerate. Mr. Cavaleros served as the chairman of the audit and risk committee and was a member of the nominations committee. The board is in the process of considering the appointment of additional non-executive directors to the board, and an announcement will be made regarding the replacement of Mr. Cavaleros in the various roles that he fulfilled, in due course. Is New 90 Day High Low • Feb 09
New 90-day high: R0.87 The company is up 34% from its price of R0.65 on 11 November 2020. The South African market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 12% over the same period. Duyuru • Jan 21
Accelerate Property Fund Limited Announces Management Appointments, Effective 1 February 2021 Accelerate Property Fund Limited announced the appointment of Derick van der Merwe as an independent non-executive to the board with effect from 1 February 2021. In addition, Derick has been appointed as a member of the Audit and Risk Committee, and as Chairman of the Investment Committee, effective 1 February 2021. Derick is an associate member of the Chartered Institute of Building, and past president of the South African Chapter of FIABCI (the International Real Estate Federation). Derick had a 28-year career in property, which included managing the planning and development of the V&A Waterfront, and holding various executive roles culminating in Chief Executive Officer of the V&A Waterfront. Derick has continued consulting to the property industry since 2008, both locally and internationally, and has extensive experience serving on boards, audit and risk committees and finance committees. Reported Earnings • Dec 04
First half 2021 earnings released: R0.084 loss per share The company reported a poor first half result with weaker earnings, revenues and control over expenses. First half 2021 results: Revenue: R415.9m (down 25% from 1H 2020). Net loss: R84.1m (down R104.8m from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 99% per year but the company’s share price has only fallen by 48% per year, which means it has not declined as severely as earnings. Duyuru • Nov 27
Accelerate Property Fund Limited Announces Executive Change Accelerate Property Fund Limited resignation of Dr Gert Cruywagen from the board of directors of the Company, shareholders and noteholders are advised that independent non-executive director Mr. George Cavaleros, has been appointed as Chairman of the Audit and Risk Committee effective 25 November 2020. Is New 90 Day High Low • Nov 19
New 90-day high: R0.79 The company is up 11% from its price of R0.71 on 21 August 2020. The South African market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 4.0% over the same period. Duyuru • Nov 02
Accelerate Property Fund Limited Appoints Pieter Grobler as the Debt Officer Accelerate Property Fund Limited appointed Pieter Grobler as the Debt Officer. Is New 90 Day High Low • Oct 29
New 90-day low: R0.50 The company is down 36% from its price of R0.78 on 31 July 2020. The South African market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 12% over the same period. Duyuru • Oct 06
Accelerate Property Fund Limited Announces Resignation of Gert Cruywagen as Independent Non-Executive Director Accelerate Property Fund Limited announced that Dr Gert Cruywagen has resigned as an Independent Non-executive Director due to ongoing work commitments, with effect from 2 October 2020. Dr Cruywagen also served as the Lead Independent Director, Chairman of the Audit and Risk Committee, Chairman of the Investment Committee, and member of the Nominations Committee. Is New 90 Day High Low • Sep 26
New 90-day low: R0.55 The company is down 35% from its price of R0.85 on 26 June 2020. The South African market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 14% over the same period. Duyuru • Sep 08
Accelerate Property Fund Limited to Report First Half, 2021 Results on Nov 24, 2020 Accelerate Property Fund Limited announced that they will report first half, 2021 results on Nov 24, 2020 Duyuru • Jun 19
Accelerate Property Fund Limited to Report Fiscal Year 2020 Results on Jul 08, 2020 Accelerate Property Fund Limited announced that they will report fiscal year 2020 results on Jul 08, 2020