REDEFINE PROPERTIES LIMITED - Notification of change of auditors

Release Date: 04/05/2018 13:30
 
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Notification of change of auditors

REDEFINE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/018591/06)
JSE share code: RDF ISIN: ZAE000190252
Debt company code: BIRDF
(Approved as a REIT by the JSE)
("Redefine" or "the Company")


NOTIFICATION OF CHANGE OF AUDITORS


Shareholders are advised that at the Company's annual general meeting ("AGM") held in February 2018, it
was proposed that KPMG Inc. ("KPMG") be re-appointed as the Company's independent external auditors
for the 2018 financial year, on the proviso that "the Audit and Risk Committee actively monitor the
outcomes of the investigations underway and take appropriate action as and when further information
becomes available".

Subsequent to the AGM and the successful re-appointment of KPMG, the Board, through the Audit and Risk
Committee, has thoroughly assessed the continuing and more recent developments as were communicated
by KPMG and reported on in the media. As a result of concerns over good governance and ethics
compliance, the Board has resolved that it is no longer able to support the Company's long-term association
with KPMG.

KPMG's appointment as external auditors will terminate on conclusion of the audit relating to the 2018
financial year, which is expected to be on or about 30 November 2018. The Company will commence with a
formal tender process to appoint a firm of auditors to replace KPMG and a further announcement,
containing details of the new audit firm and designated audit partner, will be released in due course.

The Board and the Audit and Risk Committee remain satisfied with the real estate experience and technical
expertise of KPMG and the designated audit partner and accordingly they will continue as auditors during
the transition period to assist in a smooth and efficient handover to the new external auditors.

4 May 2018


Sponsor
Java Capital

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