Appointment of future external auditor
RAND MERCHANT INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2010/005770/06
Share code: RMI
APPOINTMENT OF FUTURE EXTERNAL AUDITOR
Shareholders are advised that in accordance with the mandatory audit firm rotation rule issued by
the Independent Regulatory Board for Auditors ("IRBA"), RMI’s board has endorsed the
recommendation by a subcommittee comprising members of the audit and risk committees of RMI
and its major subsidiaries, OUTsurance Holdings Limited ("OUTsurance") and Youi Holdings
Proprietary Limited ("Youi"), following a comprehensive tender process, to appoint KPMG as the
external auditor of RMI, OUTsurance and Youi with effect from the financial year beginning 1 July
RMI will propose an indicative, non-binding resolution at its 2021 Annual General Meeting ("AGM")
for the appointment of KPMG with effect from the 2024 financial year, although the official
appointment would be made at the 2023 RMI AGM.
PricewaterhouseCoopers Inc. ("PwC") will continue to act as the external auditor of RMI,
OUTsurance and Youi for the financial years ending 30 June 2022 and 30 June 2023. PwC’s
appointment will be terminated upon the conclusion of the audit of the financial year ending
30 June 2023 in accordance with the mandatory audit firm rotation rule issued by the IRBA.
Shareholders will be advised on the outcome of the indicative, non-binding resolution to appoint
KPMG as external auditor with effect from the 2024 financial year as part of the report on the
proceedings at the 2021 AGM.
8 October 2021
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08-10-2021 09:35:00
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