Mandatory Rotation of Auditor
Motus Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 2017/451730/06
Share code: MTH ISIN: ZAE000261913
("Motus" or "Group")
MANDATORY ROTATION OF AUDITOR
The board of directors of Motus ("Board") hereby notifies Motus' shareholders that
PricewaterhouseCoopers Inc. ("PwC") has been appointed as the Group's external
auditors, with Thomas Howatt as designated audit partner, for the financial year ending
30 June 2024, replacing Deloitte & Touche ("Deliotte") after the 30 June 2023 financial
year. The appointment is subject to shareholder approval at the Group's annual general
meeting to be held on 2 November 2022.
The change in the audit firm was initiated by the Group to comply with the Independent
Regulatory Board for Auditors' ("IRBA") 2017 ruling on mandatory audit firm rotation,
which requires a company to rotate its external auditor where it has held such appointment
for more than ten consecutive financial years.
Johannesburg
13 June 2022
Sponsor
Merchantec Capital
Date: 13-06-2022 05:40:00
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Motus Holdings Ltd. published this content on 13 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2022 15:52:03 UTC.
Motus Holdings Limited specialises in the distribution of cars. Net sales break down by activity as follows:
- sales of passenger and commercial vehicles (68.5%). In addition, the group offers a car rental activity;
- import and distribution of vehicles (22.1%): Hyundai, Kia, Renault and Mitsubishi brands;
- sale of accessories and spare parts (7.5%);
- provision of financial services (1.9%): sales financing services (purchase, rental, leasing, etc.) and related services (maintenance, extended warranty, assistance, etc.).
Net sales are distributed geographically as follows: South Africa (66.2%), the United Kingdom (25%), Australia and South East Asia (8.8%).