FAIRVEST LIMITED - Notification of change of auditor, changes to the board of directors, changes to the composition of board committees

Notification of change of auditor, changes to the board of directors, changes to the composition of board committees

Fairvest Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/032604/06)
JSE share code: FTA ISIN: ZAE000304788
JSE share code: FTB ISIN: ZAE000304796
LEI: 378900E93AFC4D1CAD45
(Granted REIT status with the JSE)
("Fairvest" or the "Company")


NOTIFICATION OF CHANGE OF AUDITOR, CHANGES TO THE BOARD OF DIRECTORS AND CHANGES TO THE COMPOSITION OF 
BOARD COMMITTEES


CHANGE OF AUDITOR

Shareholders are advised that following the conclusion of a tender process, the Audit and Risk Committee has
recommended, and the Board has endorsed, the proposed appointment of Mazars as the external auditor of the
Company, with Susan Truter as the designated audit partner, for the financial year ending 30 September 2024.

The change is due to the Company's decision to implement audit firm rotation on a voluntary basis in spite of
the recent ruling against mandatory audit firm rotation as proposed by the Independent Regulatory Board for
Auditors.

Shareholders will be requested to approve the above appointment at the Company's next annual general
meeting (the "2024 AGM"), details of which will be communicated to shareholders in due course, which
appointment, if approved by shareholders, will be effective from the date of the 2024 AGM.

The Company's incumbent external auditor, BDO South Africa Inc. ("BDO") will continue to serve as the
Company's external auditor in respect of the financial year ending 30 September 2023.

The Board would like to extend its appreciation to BDO for their long-standing service to the Company.

APPOINTMENT OF DIRECTORS

The Board is pleased to announce the appointment of Ms Fikile Futwa and Mr Mtheza Buya as independent
non-executive directors of the Company with effect from 1 October 2023.

Fikile is a CA(SA) having had senior financial positions at Eskom and Discovery Limited. She is the founder
and CEO of Your Financial Partner and serves as a non-executive director for MiX Telematics Limited.

Mtheza holds an LLB and was admitted as an Advocate of the High Court. After various corporate roles at
KPMG and EOH Holdings Limited, he founded Sthathu Group Holdings Proprietary Limited, which invests
in commercial and residential real estate.

The Board welcomes Fikile and Mtheza and looks forward to their contribution to the Company.

RESIGNATION OF DIRECTOR

Mr Arnold Basserabie has resigned as an independent non-executive director of the Company and as a member
of the Investment Committee with effect from 30 September 2023.

The Board would like to thank Arnold for his valuable contribution to the Company and wishes him well in
his future endeavours.

CHANGES TO THE COMPOSITION OF BOARD COMMITTEES

Shareholders are advised that following their appointments to the Board, Ms Fikile Futwa will be appointed
as a member of both the Audit and Risk Committee and the Social and Ethics Committee of the Company and
Mr Mtheza Buya will be appointed as a member of the Investment Committee of the Company.

Shareholders are further advised that Mr Arnold Basserabie, Ms Khegu Nkuna, Ms Nozipho Shange, Mr
Louis Andrag and Adv Jacob Wiese have resigned as members of the Investment Committee.

Subsequent to the above changes, the committees will now comprise the following members:

Audit and Risk Committee
Ms Nozipho Shange (Chairperson)
Ms Khegu Nkuna
Adv Jacob Wiese
Ms Fikile Futwa

Social and Ethics Committee
Mr Louis Andrag (Chairperson)
Ms Fikile Futwa
Mr Riaz Kader
Ms Nadene Smith

Investment Committee
Mr Ndabezinhle Mkhize (Chairperson)
Mr Jacques du Toit
Mr Mtheza Buya
Mr Darren Wilder
Mr Jacques Kriel

30 August 2023


Sponsor
Java Capital
Date: 30-08-2023 05:15:00
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