SPANJAARD LIMITED - Shareholder Announcement

Shareholder Announcement

SPANJAARD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1960/004393/06)
Share code: SPA ISIN: ZAE000006938
(“the Company”)


SHAREHOLDER ANNOUNCEMENT


Shareholders are directed to the Company's previous announcements, the last of which was
published on 20 August 2019.

Further to those announcements, shareholders are advised as follows:

1.   Mr. Kentin Welgemoed continued to discharge the duties of the Chief Executive Officer
     from the date of the annual general meeting.

2.   At the first meeting of the re-constituted Board of Directors, which was announced on
     20 August 2019, a decision was taken to place Mr. Welgemoed on precautionary
     suspension. This precautionary suspension become effective on 2 September 2019.

3.   The Board has appointed Ms. Tracy Spanjaard as Acting Chief Executive Officer with
     effect from 6 September 2019.

4.   The Board has appointed Mr. John Siddall as the Independent Non-Executive Chairman
     of the Board of Directors.

Shareholders will be appraised of further developments in due course.

BY ORDER OF THE BOARD

8 October 2019


Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 08/10/2019 02:58:00
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