PREMIER FISHING AND BRANDS LIMITED - Appointment of Auditor

Appointment of Auditor

PREMIER FISHING AND BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/018598/06
JSE code: PFB
ISIN: ZAE000247516
(“PFB” or “the Company” or “the Group” or "Premier”)

Appointment of Auditor

Shareholders are referred to the announcement released on SENS on 18
October 2019 regarding the decision by BDO South Africa Inc. to not
seek re-appointment as the auditors of the Company and that the Company
would begin a process for the appointment of new auditors.

Further to the above announcement, shareholders are hereby advised
that Thawt Inc. (“THAWT”) and Crowe JHB (“CROWE”), which is a member
of Crowe Global (“CROWE Global”) have been appointed as the Company’s
joint external auditors with effect from 30 April 2020. CROWE will
sign the audit opinion until such time as THAWT has been accredited
by the JSE at which point the audit opinion will be jointly signed.
Their appointment will be ratified at the next Annual general meeting.

THAWT is a growing collaboration between long-established small and
medium audit firms. THAWT represents a network model that can
facilitate broad-based black economic empowerment and foster cohesion
within the audit profession.

CROWE is a JSE approved assurance firm and is a member of CROWE Global
which is ranked as the eighth largest accounting network in the world
with over 750 offices in 130 countries across the world, incorporating
around 42 000 professionals worldwide.

The appointment supports the Independent Regulatory Board for Auditors
(“IRBA”) strategy and vision of widening the auditor base as this
appointment brings with it a new extract of auditor expertise onto
the JSE platform and also partly addresses the issue of concentration
of global audit firms on the JSE.

In addition, the Company believes that this appointment will enhance
social cohesion and broad-based black economic empowerment which are
both equally important to the future of our country.

This audit rotation brings with it enhanced capability and a new
perspective to our stakeholders as new auditors engage with the
Company and interrogate the financial statements for the first time.
The appointment of joint auditors also provides additional assurance
to users of the Company’s financial statements as two audit firms
express a joint opinion thereon.

Cape Town
05 May 2020

Joint Sponsor
Vunani Sponsors

Date: 05-05-2020 09:23:00
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