ITALTILE LIMITED - Changes to the Board of Directors and Mandatory Rotation of Auditors

Changes to the Board of Directors and Mandatory Rotation of Auditors

ITALTILE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1955/000558/06)
Share code: ITE ISIN: ZAE000099123
(“Italtile” or “the Group”)


CHANGES TO THE BOARD OF DIRECTORS
AND
MANDATORY ROTATION OF AUDITORS


CHANGES TO THE BOARD OF DIRECTORS

In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of
Italtile (“the Board”) hereby notifies its shareholders of the following changes to the composition of the
Board:

-   Ms Nomagugu (“Gugu”) Mtetwa has tendered her resignation as a non-executive director and a member
    of the Audit and Risk Committee with effect from 31 August 2019, due to other professional
    commitments; and

-   Ms Ndumi Medupe has tendered her resignation as a non-executive director and Chairman of the Audit
    and Risk Committee with effect from the conclusion of the Group’s Annual General Meeting, which will
    be held on or about 14 November 2019, due to a potential conflict of interest as a result of having joined
    the employ of the Group’s bankers, Nedbank Group.

The Board would like to thank Gugu and Ndumi for their contribution and wish them well in their future
endeavours.


MANDATORY ROTATION OF AUDITORS

In respect of the Independent Regulatory Board for Auditors’ (“IRBA”) 2017 ruling on mandatory audit firm
rotation, the Board hereby notifies shareholders that the Group’s incumbent auditors, Ernst & Young Inc
(“EY”), will conclude their tenure with effect from 1 November 2019, in order to facilitate the finalisation of
the Group’s final accounts for the year ended 30 June 2019, including those of all the subsidiary entities.

The Board would like to extend its appreciation to EY for their long-standing service to the Group.

The Board will recommend the appointment of PricewaterhouseCoopers Inc as the Group’s auditors with
effect from 1 November 2019. The designated auditor will be Mr Thomas Howatt.

Johannesburg
22 August 2019

Sponsor
Merchantec Capital

Date: 22/08/2019 07:20:00
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