LUXE HOLDINGS LIMITED - Notification of Change in Auditor

Notification of Change in Auditor

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”)


NOTIFICATION OF CHANGE IN AUDITOR


In compliance with paragraphs 3.75 to 3.78 of the Listings Requirements of the JSE Limited (“JSE Listings
Requirements”), the board of directors of Luxe (“Board”) hereby notifies its shareholders that Ngubane and
Company (Johannesburg) Incorporated (“Ngubane and Co”) have been appointed as the Company’s external
auditors to complete the audit of the financial year ended 28 February 2022, with Magen Naidoo (“Magen”) as
the designated audit partner, replacing Nexia SAB&T, with immediate effect. Shareholders are advised that
the change in auditors was initiated by Luxe.

Nexia SAB&T’s engagement as the Company’s external auditor has been terminated with immediate effect.

Whilst there are no differences of opinion between Luxe and Nexia SAB&T regarding any accounting matters
and no reportable irregularities, in terms of the Auditing Professions Act, have been brought to the attention of
executive management or the Board, the Board concluded, following careful consideration, that it is necessary
to terminate the services of Nexia SAB&T as the external auditor. Due to a disconnect between the Company’s
executive management and Nexia SAB&T which resulted in a strained relationship, Nexia SAB&T has not
completed the audit within four (4) months of the Company’s financial year that ended 28 February 2022.

Accordingly, the Audit Committee, after following the process set out in paragraph 3.84(g)(iii) of the JSE
Listings Requirements, recommended the appointment of Ngubane and Co with immediate effect as the
Company’s external auditors with Magen as designated audit partner. This appointment is subject to
shareholder approval at the Company’s next annual general meeting.


Johannesburg
21 September 2022

Sponsor
Merchantec Capital

Date: 21-09-2022 04:47:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.