PBT Group Limited announced that its directors received and accepted the resignations of the current Chief Executive Officer ("CEO"), Mr. Pierre de Wet and Chief Financial Officer ("CFO"), Mr. Murray Louw with effect from 30 March 2020 from their positions as executive directors of the Company. Mr. de Wet and Mr. Louw will remain available as consultants to the Company in order to continue to serve PBT and ensure a smooth transition in leadership. They have contracted to consult for a minimum of one year, renewable by mutual consent in order to ensure continuity in the business.

Consequently, the Board has appointed Mrs. Elizna Read as the CEO of PBT and Mrs. Bianca Pieters as CFO of the Company with effect from 31 March 2020. Mrs. Elizna Read is currently the Chief Operations Officer of PBT Group South Africa. She joined PBT in 2000 and has served in several managerial positions, thereby garnering extensive knowledge about all aspects of the Company's business.

She was appointed as the Human Resources Director of PBT in 2008, was promoted to Operations Director in 2014 and during April 2018 she was appointed as the Chief Operations Officer of the Company. Mrs. Bianca Pieters is a qualified CA(SA) and joined PBT in 2010 as the Group accountant and Company Secretary when PBT listed on the JSE Limited via the Wooltru Limited reverse listing. Together with the CFO and CEO, Mrs. Pieters has been responsible for all financial functions of the Group and also fulfilled the role of Corporate Governance Manager since April 2017.

Mrs. Pieters resigned as the Company Secretary of PBT with effect from 31 March 2020 in order to take up the position of CFO. The Board has therefore appointed Ms Anastassia Sousa as Company Secretary with effect from 31 March 2020. Ms Sousa is a qualified CA(SA) and commenced her career with PBT in 2018.