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Notification of Change in Auditors
Arden Capital Limited
(formerly Brainworks Limited)
(Incorporated in the Republic of Mauritius)
(Registration number: 115883 C1/GBL)
Share Code: ACZ
ISIN: MU0548S00026
(“Arden Capital” or “the Company”)
Notification of Change in Auditors
Shareholders are hereby advised that PricewaterhouseCoopers Chartered Accountants (Zimbabwe) (“PwC
Zimbabwe”) and PricewaterhouseCoopers Mauritius (collectively “PwC”) have notified the Company of their
resignation as external auditors to the Company and all its subsidiaries (collectively “the Group”), effective
Friday, 24 July 2020. The Company’s major subsidiaries are African Sun Limited (“African Sun”) and Dawn
Properties Limited (“Dawn”). The board of directors of Arden Capital (“the Board”) thanks PwC for their many
years of service to the Group.
PwC’s resignation follows a compulsory requirement in terms of the new Zimbabwe Companies and Other
Business Entities Act [Chapter 24:31] and the Zimbabwe Stock Exchange Listing Requirements for African
Sun and Dawn to rotate their auditors. As PwC could no longer serve as auditors of these major Group
subsidiaries, they have advised that they are no longer able to continue as external auditors of the Company.
Shareholders are further advised that Deloitte & Touche (Zimbabwe) in collaboration with Deloitte & Touche
(South Africa) (collectively “Deloitte”) has been appointed as external auditors to the Company with effect
from 24 July 2020.
In terms of paragraph 3.84(g)(iii) of the JSE Listings Requirements, the Arden Capital Audit and Risk
Committee assessed the suitability for the appointment of the new auditors, resulting in its recommendation
to the Board to appoint Deloitte. The appointment of Deloitte as the external auditors of the Company will be
ratified at the Company’s next annual general meeting.
Grand Baie, Mauritius
24 July 2020
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 24-07-2020 02:15:00
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