Owner of South Africa’s biggest shopping mall hit with R500,000 fine

• The owner of Fourways Mall, Accelerate Property Fund, has been fined R500,000 for violating the Johannesburg Stock Exchange's listing rules.
• The fine relates to Accelerate's unilateral appointment of Flanagan & Gerard as asset and property manager for Fourways Mall in 2023 without shareholder approval, violating JSE listing rules.
• Accelerate still faces consequences despite the lapse of the agreement, with the JSE public censure and fine indicating ongoing scrutiny of the company's compliance with listing rules.