LUXE HOLDINGS LIMITED - Quarterly Update - December 2022

Quarterly Update - December 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 – DECEMBER 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’ announcement dated 9 December 2022 advising shareholders of the
      resignation of Mr STZ Ngubane as an independent non-executive director and chairperson of the Audit
      and Risk Committee;

-     ‘Notification of change in Auditor’ dated 21 September 2022.

      Ngubane and Co (Johannesburg) Incorporated, who replaced Nexia SAB&T, to complete the audit for the
      financial year ended 28 February 2022 commenced the audit on 21 September 2022 and is in the final
      stages of completion; 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.

      As negotiations are still in progress, the cautionary announcement was renewed on 31 October 2022 and
      again on 12 December 2022.


Johannesburg
19 December 2022

Sponsor
Merchantec Capital

Date: 19-12-2022 05:44:00
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.