Deloitte & Touche Settlement
TONGAAT HULETT LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1892/000610/06
Share code: TON
ISIN: ZAE000096541
(“Tongaat Hulett” or “Company”)
DELOITTE & TOUCHE SETTLEMENT
Shareholders are advised that the Company and Deloitte & Touche South Africa (“Deloitte”)
have, in anticipation of the commencement of a mediation process, concluded an agreement
in relation to claims which the Company had asserted against Deloitte which arise from and
relate to the appointment of Deloitte as auditor of the Company for the financial years ending
31 March 2012 to 31 March 2018 (both inclusive).
Deloitte will pay an amount of R260m to the Company without admission of liability. The
Business Rescue Practitioners, having taken advice in this regard, are of the considered
opinion that a settlement on these terms is in the best interests of the Company.
Shareholders are referred to the previous cautionary and renewal of cautionary
announcements, the last of which was released on SENS on 8 February 2023. The Company’s
shares remain suspended on the JSE and shareholders are advised to continue to exercise
caution in relation to the Company’s securities until a further announcement is made.
Tongaat
23 February 2023
Sponsor
PSG Capital
Date: 23-02-2023 03:30:00
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