ADR - Adcorp Holdings Limited - Consitution of the audit and risk committee

ADR - Adcorp Holdings Limited - Consitution of the audit and risk committee     
Adcorp Holdings Limited                                                         
(Incorporated in the Republic of South Africa)                                  
(Registration number 1974/001804/06)                                            
Share Code: ADR     ISIN: ZAE000000139                                          
("the Company")                                                                 
CONSITUTION OF THE AUDIT AND RISK COMMITTEE                                     
Shareholders are referred to the announcement released on SENS on 7 March 2012  
informing shareholders that Ms Amanda Alback resigned as an independent non-    
executive director ("independent director") and member of the Audit and Risk    
Committee ("Committee") on Tuesday 6 March 2012, following her permanent        
appointment at Tongaat Hulett Starch.                                           
In terms of section 94 (2) of the Companies Act 71 of 2008 as amended ("the     
Act") the Company is required to have at least three independent members        
comprise the Committee.  Further, in terms of section 94 (6) of the Act, the    
board is required to appoint a person to fill a vacancy within 40 business days 
after the vacancy arises.                                                       
Due to the extensive process required to nominate a director who has the skills 
and experience to form part of the Committee as required in terms of the Act,   
the Remuneration and Nominations Committee have not yet finalised the           
appointment of a Committee member.                                              
As Ms Alback possesses both extensive knowledge and experience as a board member
and Committee member since her appointment on 14 April 2009, she has agreed to  
be re-appointed to review and approve the Integrated Annual Report and the      
financial results for the year ended 29 February 2012.                          
As a result, in compliance with paragraph 3.59 of the Listings Requirements of  
the JSE Limited, shareholders are advised that Ms Alback has been re-appointed  
as an independent director with effect from Monday 14 May 2012 and will then    
resign as an independent director from the board with effect from Wednesday 23  
May 2012.                                                                       
Bryanston                                                                       
14 May 2012                                                                     
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd                           
Date: 14/05/2012 16:18:58 Supplied by www.sharenet.co.za                     
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