Astoria Investments Ltd. announced that the resignation of the company's Chief Executive Officer and are advised that, as an interim measure, the board of directors of Astoria has decided to appoint the current chief financial officer Ms. Tiffany Purves as dual CEO and CFO of the company. Dispensation has been obtained from the JSE for Ms. Tiffany Purves to take on the role as both CEO and CFO of the company during an interim period, which period will not extend beyond 31 December 2019. Ms Tiffany Purves is appropriately qualified and experienced to fulfil the roles of interim CEO and CFO.

She will continue to receive the necessary support from Osiris Corporate Solutions (Mauritius) Limited for the accurate preparation of all financial information and the Astoria audit and risk committee will continue to provide appropriate oversight on all financial reporting. The board appreciates the worthy contributions Ms. Tiffany Purves has made during her tenure as CFO of the company and the board wishes her well in her new role as dual CEO and CFO of the company. A formal process to identify and appoint a suitable replacement CEO will be undertaken and a further announcement will be released in due course.

Shareholders are further advised that Mr. Tinesh Ramprusad has notified the Board of his intention to resign as a non-executive director of the company with effect from 30 June 2019. The Board thanks Tinesh for his contribution to the company and wishes him well in his future endeavours. Following the above director changes, the audit and risk committee of the company will comprise the following directors: Mr. Dean Schweizer.