DELTA PROPERTY FUND LIMITED - Update to publication of results and lifting of suspension and further cautionary announcement

Update to publication of results and lifting of suspension and further cautionary announcement

DELTA PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/005129/06)
JSE share code: DLT
ISIN: ZAE000194049
(Approved as a REIT by the JSE)
("Delta" or the “Company”)

UPDATE TO PUBLICATION OF RESULTS AND LIFTING OF SUSPENSION
FURTHER CAUTIONARY ANNOUNCEMENT

Delta shareholders are referred to the various announcements released by the Company on SENS, the latest being on
25 January 2021, relating to a forensic investigation by Mazars Forensic Services (“Forensic Investigation”) into alleged
procurement irregularities and the misappropriation of funds by senior executives and Delta’s subsequent
engagement with its auditor, BDO South Africa Incorporated (“Auditor”) in respect of the Forensic Investigation, which
led to the withdrawal by the Auditor of its audit opinion in respect of the financial statements for the year ended
February 2020 (“2020 Financial Statements”), the Delta board of directors’ (“Board”) withdrawal of the 2020 Financial
Statements, resultant delay in the publication of the Company’s interim results for the six months ended 31 August
2020 ("Interim Results") and the JSE-initiated suspension of the Company (“Suspension”) on 15 December 2020.

As stated in the SENS announcement dated 25 January 2021, based on feedback provided by the Auditor at the time,
the Board had targeted the publication of its audited restated 2020 Financial Statements and the Interim Results by
no later than 26 February 2021.

Due to the extended internal assessment conducted by management on the Company that was required as a result of
the findings of the Forensic Investigation, and the additional work the Auditor had to perform, more time than
originally anticipated is required to finalise the restated 2020 Financial Statements. Based on the updated timetable
and feedback from the Auditor, the Board anticipates to be in a position to publish the audited restated 2020 Financial
Statements and the Interim Results by no later than 22 March 2021, whereupon the Board will apply to the JSE for the
Suspension to be lifted.

Based on the above, shareholders are advised to continue exercising caution in relation to Delta securities until a
further announcement is made and the Suspension is lifted.

Johannesburg
25 February 2021

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 25-02-2021 12:50:00
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