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Notification of Change in External Auditor
LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat Africa” or “the Company”)
ISIN Code: ZAE000018354 Share Code: LAB
FSE Code: LEI 9845000R73DF5EE41J88
NOTIFICATION OF CHANGE IN EXTERNAL AUDITOR
In terms of paragraph 3.78 of the JSE Limited Listings Requirements, shareholders are advised
that, following the conclusion of a tender process, the Audit and Risk Committee has
recommended, and the Board of Directors of the Company has endorsed, the proposed
appointment of Nolands Incorporated as the external auditor of Labat, with Mr Ferdinand
Cloete. as the designated audit partner, for the financial year ending 31 May 2023, thereby
replacing the Company’s current external auditor, SAB&T Nexia Inc.
SAB&T Nexia Inc. has been the auditor of Labat and one of the main subsidiaries for ten
years. Morar Inc. was the auditor of the various healthcare subsidiaries.
The Company will now have one audit firm for the entire Group, which should achieve
efficiencies in both the auditing and reporting of the Group.
The change in external auditor was initiated by the Company to early adopt mandatory
audit firm rotation in conjunction with the intention to appoint one audit firm for the entire
group.
Johannesburg
1 June 2023
Sponsor
AcaciaCap Advisors
Date: 01-06-2023 02:05:00
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