NEW FRONTIER PROPERTIES LIMITED - Resignation of Company Secretary and General Update

Resignation of Company Secretary and General Update

New Frontier Properties Ltd
(Incorporated in the Republic of Mauritius on 5 June 2014)
(Registration number 123368C1/GBL)
SEM share code: NFP.N0000
JSE share code: NFP
ISIN: MU0453N00004
(“New Frontier” or the “Company”)

RESIGNATION OF COMPANY SECRETARY AND GENERAL UPDATE

Resignation of Company Secretary
In line with paragraph 3.59 of the JSE Listings Requirements, shareholders are hereby advised that
Vistra (Mauritius) Limited has resigned as the Company Secretary of New Frontier with effect from
Monday, 8 March 2021. The Company is taking the necessary steps to finalise the appointment of
a new Company Secretary.

The Board of New Frontier (the “Board”) wishes to thank Vistra (Mauritius) Limited for the services
provided to the Company.

General update
It should be noted that the holding company in Mauritius has limited funds to pay for costs outside
the budgeted costs that were agreed with the funder in terms of the annual budget. To the
knowledge of the Board, the subsidiary directors and funder are refusing to release funds to pay the
majority of the budgeted costs, including the auditors, such time as the holding company has
exhausted the limited funds held in Mauritius. This would then preclude the holding company from
incurring any other costs, including payment of new directors or other regulatory costs not in the
annual budget, which would potentially be reckless of the holding company until other funds are
secured. The Board continues to try to resolve this matter with the subsidiary directors.

The Company continues to engage with potential investors and/or new funders with a view to
settling the funder, removing the restrictive lending criteria, free the positive cash flow and ensuring
that the Company is able to comply with the various regulatory and corporate governance
requirements.

New Frontier holds primary listings on the Official Market of the Stock Exchange of Mauritius Ltd
(“SEM”) and the Alternative Exchange of the JSE.

By order of the Board
16 March 2021

This notice is issued pursuant to SEM Listing Rule 11.3, the JSE Listings Requirements and the Mauritian
Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the
information contained in this notice.

For further information please contact:

JSE                                                      SEM Authorised Representative and Sponsor
Sponsor
AcaciaCap Advisors (Pty) Ltd                             Perigeum Capital Ltd
+27 11 480 8500                                          +230 402 0890
 
Date: 16-03-2021 08:30:00
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