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ADCORP HOLDINGS LIMITED - Notification of change in external auditor

Release Date: 27/06/2022 17:00
Code(s): ADR     PDF:  
Wrap Text
Notification of change in external auditor

ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
(“Adcorp” or the “Company”)

NOTIFICATION OF CHANGE IN EXTERNAL AUDITOR

In terms of paragraph 3.78 of the JSE Limited Listings Requirements, shareholders are advised
that, following the conclusion of a tender process, the audit and risk committee has
recommended, and the board of directors of the Company has endorsed, the proposed
appointment of KPMG Inc. (“KPMG”) as the external auditor of Adcorp, with Giuseppina
Aldrighetti as the designated audit partner, for the ensuing financial year ending 28 February
2023 or until the annual general meeting (“AGM”) to be held in 2023, whichever is later, thereby
replacing the Company’s current external auditor, Deloitte & Touche (“Deloitte”).

Shareholders will be requested to approve the above appointment at the Company’s 2022
AGM, details of which will be communicated to shareholders in due course, which
appointment, if approved by shareholders, will be effective from the date of the 2022 AGM.

Deloitte will continue to serve as Adcorp’s external auditor in respect of the current financial
year ended 28 February 2022.

The change in external auditor was initiated by the Company to early adopt mandatory audit
firm rotation.

Johannesburg
27 June 2022

Sponsor
PSG Capital

Date: 27-06-2022 05:00:00
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