ACCENTUATE LIMITED - Response to JSE Limited (JSE) public censure

Response to JSE Limited (“JSE”) public censure

Accentuate Limited
(Incorporated in the Republic of South Africa)
(Registration number 2004/029691/06)
JSE Share code: ACE ISIN: ZAE000115986
(“Accentuate” or “the Company”)

RESPONSE TO JSE LIMITED (“JSE”) PUBLIC CENSURE

Accentuate notes and accepts the public censure issued by the JSE regarding the restatement of the
Company’s financial results for the year ended 30 June 2016. We do however believe that shareholders
need to be informed of the context surrounding the public censure.

During 2016 the Accentuate Board embarked on a process to strengthen governance and the review
structures within the Company. During this process all relevant policies were reviewed with the support
and advice of a strengthened Audit and risk committee, new external auditors, an independent internal
audit function as well as an independent company secretary function.

The issue of goodwill was thoroughly examined, and the Company concluded that it had erred in the
goodwill calculation. The disclosures made were in accordance with IFRS and the JSE Listings
Requirements. The Company issued an announcement on SENS on 27 September 2017 advising
shareholders of the restatement to the financial results for the year ended 30 June 2016.

The disclosure is contained in note 33 of the Annual Financial Statements for the year ended 30 June
2017 which period represented the earliest financial period in which these restatements could be
executed.

Johannesburg
22 October 2019
Designated Advisor: Bridge Capital Advisors Proprietary Limited

Date: 22/10/2019 07:06:00
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