TONGAAT HULETT LIMITED - Progress with capital restructuring plan and change to the composition of the audit and compliance committee

Progress with capital restructuring plan and change to the composition of the audit and compliance committee

TONGAAT HULETT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1892/000610/06
Share code: TON
ISIN ZAE000096541
(“Tongaat Hulett” or “Company”)

PROGRESS WITH CAPITAL RESTRUCTURING PLAN AND CHANGE TO THE
COMPOSITION OF THE AUDIT AND COMPLIANCE COMMITTEE

PROGRESS WITH CAPITAL RESTRUCTURING PLAN

Further to the announcement released on SENS on 8 September 2022, which contained an
update on the Company’s capital restructuring plan (“Restructuring Plan”), Tongaat Hulett
wishes to advise shareholders that efforts continue to present a Restructuring Plan to reduce
the Company’s excess debt and ensure its longer-term sustainability. Management and the
board of directors of the Company (“Board”) need to review alternatives and design and agree
on a plan that will provide an optimum solution for all stakeholders involved. In view of this,
shareholders should note that the date for the submission of the Restructuring Plan has been
extended to 14 October 2022.

CHANGE TO THE COMPOSITION OF THE AUDIT AND COMPLIANCE COMMITTEE

Shareholders are further advised that, in accordance with paragraph 3.59(c) of the JSE
Listings Requirements, the Board has appointed Ms Louisa Stephens, an independent non-
executive director on the Board, as acting chair of the Audit and Compliance committee, with
effect from 1 October 2022, following the resignation of Ms Linda de Beer from the Board, with
effect from 30 September 2022, as announced on SENS on 9 September 2022.

Ms Stephens is a BCom Accounting (Honours), BBus Sc, CA (SA) holder and Chartered
Director (SA) and was appointed to the Tongaat Hulett Board on 15 July 2020. She is an
independent financial trader and independent non-executive director of Multichoice Group,
Royal Bafokeng Platinum, the Institute of Directors in South Africa and Strate (Pty) Ltd. She
previously also held positions as fund manager at the National Empowerment Fund,
investment banker at Rand Merchant Bank, general manager of the Investment and Finance
divisions of Nozala Investments and chief investment officer of Circle Capital Ventures.

The Board looks forward to her contribution as acting chair of the Audit and Compliance
committee and thanks Ms de Beer for her role in this regard. The Board is in the process of
identifying a suitable permanent replacement and shareholders will be advised as soon as
such an appointment has been made.

Tongaat
28 September 2022

Sponsor
PSG Capital

Date: 28-09-2022 09:00:00
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