TONGAAT HULETT LIMITED - Response to JSE Limited (JSE) Public Censure

Response to JSE Limited (“JSE”) Public Censure

Tongaat Hulett Limited
Registration number 1892/000610/06
Share code: TON
ISIN ZAE000096541
(“Tongaat Hulett” or “the company”)


RESPONSE TO JSE LIMITED ("JSE") PUBLIC CENSURE

Shareholders are referred to the SENS announcement released today by the JSE
Limited and are advised that Tongaat Hulett notes and accepts both the findings and
the public censure issued by the JSE regarding the restatement of the Company's
financial results for the year ended 31 March 2019. Shareholders were advised on 8
March 2019 of the need to review previously reported financial information and on 29
November 2019 of the key findings of the forensic investigation conducted by PwC.

Tongaat has co-operated and will continue to co-operate with the JSE and other
regulatory bodies to deal with this matter and in particular to support the JSE to
comply with its duties under the Financial Market Act 19 of 2012.

In this regard shareholders are advised that Tongaat accepted the JSE’s decision
and sanction as recorded in the JSE’s announcement namely:

   1. The imposition of a public censure and a fine of R7,5m relating to the non-
      compliance to sections 8.57(a) and 8.62(b) of the JSE Listing Requirements;
      and
   2. The suspension of R2,5m of the fine for 5yrs on condition that Tongaat is not
      found in breach of material and important provisions of the Listings
      Requirements during the period of suspension.

The Tongaat Hulett Board and management remain committed to good corporate
governance and has undertaken to prevent a recurrence of a transgression of the
Listings Requirements by reinforcing internal measures and policies to ensure
compliance with the Listings Requirements.



Tongaat
1 July 2020


Sponsor
Investec Bank Limited

Date: 01-07-2020 11:41:00
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