Appointment of Auditors

(Incorporated in the Republic of South Africa)
(Registration number 1960/004393/06)
Share code: SPA ISIN: ZAE000006938
(Spanjaard or the Company)


Shareholders of Spanjaard are referred to the announcement dated 11 February 2020,
in terms of which the Company advised Shareholders of the resignation of its external
auditor, PriceWaterhouseCoopers Inc.

Further to the aforementioned announcement, Shareholders are hereby advised that
Nexia SAB&T (Nexia), has been appointed as the Companys external auditors with
effect from 12 February 2020.

The Designated Auditor appointed by Nexia responsible for the Company audit is
Mr Muhammed Fazel Sulaman.

By order of the Board

13 February 2020


Arbor Capital Sponsors
(Registration number 2006/033725/07)

Date: 13-02-2020 05:45:00
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