In compliance with paragraph 3.75 of the JSE Listings Requirements, shareholders are advised that following careful consideration including the need for rotation of external auditors, the board of directors of Famous Brands (“the Board”) decided to embark on a tender process to consider the appointment of an external audit firm.
The Audit Committee, after following the process set out in paragraph 3.84(g)(iii) of the LR, recommended the appointment of KPMG as the Company’s external auditor with Nick Southon as designated partner. The Board has accordingly appointed KPMG as auditor in respect of the financial year ending 28 February 2021 as a replacement for Deloitte & Touche.
This appointment is effective 24 July 2020, subject to the approval of the Company’s shareholders at the annual general meeting. The effective date for the retirement of Deloitte & Touche will be 23 July 2020 and they remain responsible for the completion of the audit in respect of the year ended 29 February 2020.