LUXE HOLDINGS LIMITED - Quarterly Update 30 September 2022

Quarterly Update – 30 September 2022

LUXE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2000/002239/06)
Share code: LUX   ISIN Code: ZAE000286035
(“Luxe” or “the Company”)


QUARTERLY UPDATE – 30 SEPTEMBER 2022


Shareholders are referred to the SENS announcement dated 5 August 2022 relating to the suspension by the
JSE Limited (“JSE”) of Luxe’s shares as a result of its failure to publish its annual financial statements for the
year ended 28 February 2022 within the prescribed period (“the Suspension”).

In line with paragraph 1(11)(c) of the JSE Listings Requirements, Luxe is required to provide shareholders with
an update on the state of the affairs of the Company, on a quarterly basis, until the Suspension is lifted.

Accordingly, shareholders are referred to the following announcements released on SENS (and using the
terms defined therein unless otherwise stated) and relevant updates thereto:

-      the ‘Changes to the Board and Company Secretary’ announcement dated 24 August 2022 advising
       shareholders of, inter alia, the resignation of Ms A Makowe as an independent non-executive director
       and member of the Audit and Risk Committee (“Committee”) and the appointments of Messrs STZ
       Ngubane as an independent non-executive director and MS Tinawi as an independent non-executive
       director and Chairperson of the Board. Subsequent to the aforementioned changes, the Committee is
       now comprised of Messrs STZ Ngubane (Chairperson), A Amod and MS Tinawi;

-      the ‘Notification of Change in Auditor’ announcement dated 21 September 2022 advising shareholders
       of the appointment of Ngubane and Co (Johannesburg) Incorporated, who replaced Nexia SAB&T, with
       immediate effect. Ngubane and Co have commenced the audit of the financial year ended 28 February
       2022, which audit is expected to be completed within approximately 5 weeks; and

-      the ‘Proposed Disposal and Cautionary’ announcement dated 19 September 2022 advising shareholders
       that Luxe is in advanced stages of negotiations and intends to enter into an agreement relating to a
       potential related party disposal, via its Jewellery and Watch Division Proprietary Limited of certain Group
       assets, including Arthur Kaplan and World’s Finest Watches, to Go Dutch Proprietary Limited for a cash
       consideration. Shareholders will be kept informed of developments in this regard.


Johannesburg
30 September 2022

Sponsor
Merchantec Capital

Date: 30-09-2022 10:09:00
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