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GROWTHPOINT PROPERTIES LIMITED - Change in external auditor

Release Date: 30/04/2019 08:55
Code(s): GRT     PDF:  
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Change in external auditor

Growthpoint Properties Limited
Approved as a REIT by the JSE
(Incorporated in the Republic of South Africa)
Registration number 1987/004988/06
ISIN: ZAE000179420
JSE Share code: GRT
("Growthpoint” or “the Company”)


In June 2017, the Independent Regulatory Board of Auditors published a rule prescribing that auditors of
public interest entities in South Africa must comply with mandatory audit firm rotation whereby audit firms
shall not serve as the appointed auditor of a public interest entity for more than 10 consecutive years, with
effect from 1 April 2023. Given the aforementioned and with the imminent five-year partner rotation by
KPMG, Growthpoint elected to rotate auditors. KPMG has been Growthpoint’s external auditors for eighteen
years and the board mandated the audit committee to recommend a new external auditor.

The board and audit committee wish to inform shareholders that, following a comprehensive RFP process, EY,
has been nominated as the new external auditor effective 1 July 2019, for the audit of the forthcoming
financial year ending 30 June 2020. This appointment is subject to shareholders’ approval at the Annual
General Meeting (AGM) scheduled for 12 November 2019. Consequently, KPMG will not be re-appointed as
the Company’s external auditor.

Growthpoint wishes to thank KPMG for their excellent services and commitment to the Group over the past
eighteen years.


29 April 2019

Sponsor: Investec Bank Limited

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