The board of directors of KAP Industrial Holdings Limited announced that in terms of the Board's forward-looking succession plan, Mr. J De V Du Toit (Jaap), who has served as a director on the Board since 2012, has indicated that he will be stepping down from his position as an independent non- executive director on the Board and as a member of the nomination committee (Nom Com) at the conclusion of the Company's next annual general meeting (2022 AGM), which is currently scheduled for 21 November 2022. A formal SENS announcement will be released confirming Jaap's resignation following the 2022 AGM.