Enhanced Investments - Financial Portal

Changes to the board

Published: 2022-12-09 16:30:47 ET

                                       The SPAR Group Limited
                             (Incorporated in the Republic of South Africa)
                                 Registration number: 1967/001572/06
                                            Share Code: SPP
                                         ISIN: ZAE000058517
                                      (“SPAR” or the “Company”)


    CHANGES TO THE BOARD

In accordance with paragraph 3.59 of the JSE Limited Listing Requirements, the Board wishes to notify
SPAR shareholders (“Shareholders”) of the following changes to the board of directors of SPAR
(“Board”) with immediate effect:

-    Mr Graham O’Connor, the non-executive chairperson of SPAR, believes that it is in the best
     interests of the Company to step aside from his role as chairperson of the Board in order to allow
     the Board to focus on the current allegations facing the Company. Mr O’Connor will continue to
     serve the Company as a non-executive director.

-    Mr Andrew Waller, who currently serves as the lead independent director of SPAR, will assume the
     role of interim chairperson of the Board on a temporary basis until the Board appoints a permanent
     independent non-executive chairperson.

The Company’s nominations committee has commenced a process of identifying a suitable
replacement and Shareholders will be advised as soon as such appointment is made.

The Board thanks Mr O’Connor for his contribution as chairperson of the Board and would like to
acknowledge the pivotal leadership role he played in the international expansion of SPAR.

Pinetown
9 December 2022

Sponsor
One Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.