KAAP AGRI LIMITED - Change Statement, Notice Of Annual General Meeting And Change To The Board Of Directors

Change Statement, Notice Of Annual General Meeting And Change To The Board Of Directors

KAAP AGRI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
(“Kaap Agri” or “the Company”)

CHANGE STATEMENT, NOTICE OF ANNUAL GENERAL MEETING AND CHANGE TO
THE BOARD OF DIRECTORS

CHANGE STATEMENT, POSTING OF NOTICE OF ANNUAL GENERAL MEETING AND
SUMMARISED FINANCIAL STATEMENTS

Shareholders of Kaap Agri (“Shareholders”) are hereby advised that the Company’s
summarised audited consolidated annual financial statements for the year ended
30 September 2019 (“Summarised Financial Statements”) are annexed to the notice of the
annual general meeting of the Company (“AGM”) (“Notice of AGM”) that was dispatched to
Shareholders today, 20 December 2019, and contains no modifications to the republished
reviewed preliminary results which were announced on SENS on Tuesday,
3 December 2019, save for the reallocation of an amount of R38.7 million from current, to
non-current trade and other receivables, which relates to long term facilities granted to
producers to assist in capital expansion for the establishment and/or expansion of production
capacity. The nature of these debtor accounts are the same as normal trade debtors and the
reallocation has no impact on total assets, earnings, headline earnings and recurring headline
earnings.

The following reports will also be available on the Company’s website, at www.kaapagri.co.za
as from today, 20 December 2019:

1.     the Notice of AGM, incorporating the Summarised Financial Statements
       (www.kaapagri.co.za); and
2.     the full audited consolidated annual financial statements of the Company for the year
       ended 30 September 2019 (www.kaapagri.co.za).

The Company’s full integrated annual report will be made available on Kaap Agri’s website
on or about Thursday, 23 January 2020. Kaap Agri will, in due course, release a further
announcement in this regard.

NOTICE OF AGM

Notice is hereby given that the AGM will be held at 12:30 on Thursday, 13 February 2020 at
the Conference Venue, Lemoenkloof Guest House, 3 Malan Street, Paarl to transact the
business set out in the Notice of AGM.

The date on which Shareholders must be recorded as such in the share register of the
Company to be eligible to vote at the AGM is Friday, 7 February 2020, with the last day to
trade being Tuesday, 4 February 2020.
CHANGE TO THE BOARD OF DIRECTORS

In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, Shareholders
are advised that Mr JH van Niekerk (“Kosie”), an independent non-executive director, who,
in terms of the Company’s memorandum of incorporation retires by rotation at the AGM, has
advised the board that he will not be making himself available for re-election.

The board of Kaap Agri expresses its appreciation to Kosie for his valuable contribution to
the Company over many years and wishes him well for the future.

As a result of Kosie’s retirement, the composition of the remuneration, nomination and
finance committees has been re-assessed and Shareholders are advised that:

1.   Mrs D du Toit has been appointed as a member of the remuneration committee;
2.   Dr EA Messina has been appointed as a member of the nomination committee; and
3.   the board will, for the time being, not fill the vacancy left on the finance committee by
     Kosie’s retirement,

with effect from the date of the AGM.

Following the AGM and subject to the applicable directors being re-elected thereat, these
committees will be constituted as follows:

Remuneration committee
CA Otto (chairperson), GM Steyn and D du Toit.

Finance committee
JH le Roux (chairperson), HM Smit and GW Sim.

Nomination committee
GM Steyn (chairperson), CA Otto and Dr EA Messina.

Paarl
20 December 2019

Sponsor
PSG Capital

Date: 20-12-2019 03:00:00
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