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SPANJAARD LIMITED - Resignation of Auditor

Release Date: 11/02/2020 16:46
Code(s): SPA     PDF:  
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Resignation of Auditor

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


The Company hereby advises shareholders that Spanjaard’s external auditors,
PricewaterhouseCoopers Inc. (“PWC”), have resigned as auditors of the Company.

PWC’s reasons for their resignation is that in their risk management process they
believed that they could not adequately mitigate their audit risk pursuant to the
developments at Spanjaard’s Annual General meeting as well as subsequent
developments flowing from that.

On 10 February 2020, the Board of Directors acceded to the resignation of
PriceWaterhouseCoopers Inc. despite its lack of compliance with Section 89(1)(b) of
the Companies Act.

Spanjaard will commence the process of appointing new auditors and will advise
shareholders once the new auditors have been appointed.

By order of the board

11 February 2020


Arbor Capital Sponsors Proprietary Limited
(Registration number 2006/033725/07)

Date: 11-02-2020 04:46:00
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