ASTRAL FOODS LIMITED "Astral" or the "Company" (Reg. No. 1978/003194/06)

(Incorporated in the Republic of South Africa) Share Code: ARL

ISIN Code: ZAE000029757

APPOINTMENT OF FUTURE AUDIT FIRM

Shareholders are advised that in accordance with the mandatory audit firm rotation rule issued by the Independent Regulatory Board for Auditors ("IRBA"), Astral's Board has endorsed the recommendation by its Audit and Risk Committee, following a comprehensive tender process, to appoint Deloitte Inc ("Deloitte") as the external auditors of Astral, with effect from the financial year starting 1 October 2023.

Astral intends to propose an indicative non-binding resolution at its 2023 Annual General Meeting (AGM) for the appointment of Deloitte, with effect from the 2024 financial year, although the official appointment would be made at the Astral 2024 AGM.

The incumbent external auditors, PricewaterhouseCoopers Inc. ("PWC"), will continue to act as external auditors of Astral for the financial years ending 30 September 2022 and 30 September 2023. PwC's appointment will be terminated upon the conclusion of the audit of the financial year ending 30 September 2023 in accordance with the mandatory audit firm rotation rule issued by IRBA.

Astral will release a further announcement once shareholder approval in respect of Deloitte's appointment has been obtained.

Pretoria

15 August 2022

Sponsor

Nedbank Corporate and Investment Banking, a division of Nedbank Limited

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Astral Foods Limited published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 06:32:08 UTC.