AFRICAN OXYGEN LIMITED - Notification of resignation of the designated auditor and modification of ordinary resolution 3 of the notice of AGM

Notification of resignation of the designated auditor and modification of ordinary resolution 3 of the notice of AGM

AFRICAN OXYGEN LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1927/000089/06)
JSE code: AFX
NSX code: AOX
ISIN: ZAE000067120
(“Afrox” or the “Company”)

NOTIFICATION OF RESIGNATION OF THE INDIVIDUAL DESIGNATED AUDITOR AND
MODIFICATION OF ORDINARY RESOLUTION 3 OF THE NOTICE OF ANNUAL GENERAL MEETING

Afrox shareholders (“Shareholders”) are advised that Mr Megan Naidoo, the individual designated auditor
representing the Company’s external auditor, PricewaterhouseCoopers Inc. (“PwC”), (“Audit Partner”),
has resigned from the employ of PwC with effect from 31 May 2019.

In terms of section 44(1)(a) of the Auditing Professions Act, 2005, a replacement Audit Partner is required
to be nominated by PwC. Once such nomination is made and tabled by PwC to Afrox, Afrox’s audit
committee (“Committee”) will assess such person’s suitability for appointment as the Audit Partner, in
accordance with paragraph 3.84(g)(iii) of the JSE Limited Listings Requirements. The process of
nomination, assessment and appointment of the replacement Audit Partner is expected to be finalised after
the Committee meeting, post the annual general meeting on Thursday, 30 May 2019 (“AGM”).
Shareholders will be notified in a SENS announcement, once the appointment of the replacement Audit
Partner is finalised.

In light of the above, ordinary resolution 3 of the notice of AGM, dated 28 March 2019 (“Notice”), which
deals with the appointment of the auditors, requires modification by the removal of the appointment of the
Audit Partner from the said resolution. In the circumstances, ordinary resolution 3 of the Notice shall be
modified to read as follows:

    “Resolved that PricewaterhouseCoopers Inc. be appointed as the independent auditors of the
    Company who will undertake the audit of the Company for the ensuing period, and that the Audit
    Committee be authorised to determine the terms of engagement and the auditors’ fees and
    remuneration for the ensuing period.”

For the avoidance of doubt, the forms of proxy, in the form attached to the Notice, remains valid. If a
Shareholder has already submitted forms of proxy, prior to the publication of this announcement, such
forms of proxy will remain valid, unless such Shareholder submits new forms of proxy. Forms of proxy must
reach the transfer secretaries (acting on behalf of the Company) by no later than 10:00 on Tuesday, 28
May 2019, provided that the Chairperson of the AGM may, in his discretion, accept forms of proxy so
delivered after 10:00 on Tuesday, 28 May 2019, up until the time of commencement of the AGM, or handed
to him immediately prior to the time of commencement of the AGM (being 10:00 on Thursday, 30 May
2019).

Johannesburg
24 May 2019

Sponsor
One Capital

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