Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 120

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 120
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                                      2025 (2)                          2024 (2)              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                    (U. S.$ thousands (1))                    (in R thousands)                                        
  Short-term employee benefits                                       983                            18,285                    18,094  
  Post-employment benefits                                            25                               456                       430  
                                                                   1,008                            18,741                    18,524  

  (1)      For convenience purposes only, amounts in South African rand as at February 28,                                                                

  (2)      Aggregate information disclosed includes directors and executive management given                                                           

  BOARD PRACTICES  

Board Composition

Our board of directors is composed
of five members, of whom Siew Koon Lim, Andrew Leong and Kim White qualify as “independent” under Nasdaq listing rules. Our
constitution provides that our board of directors initially be divided into three classes with staggered terms over a three-year period.
Only Class I directors were subject to re- election at the first annual meeting of stockholders held after the Nasdaq listing, with the
other classes continuing for the remainder of their respective terms. Our current directors are divided among the three classes as follows:

  the Class I director is Andrew Leong, who was re-elected                                  
  for a term of three years at the annual meeting of stockholders held on August 29, 2024;  
 ────────────────────────────────────────────────────────────────────────────────────────────

  the Class II directors are Kim White and Siew Koon Lim; and  

  the Class III directors are Isaias (Zak) Jose Calisto and                                            
  Hoe Shin Goy, who were both re-elected at the AGM held on July 12, 2023, for a term of three years.  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────

At each annual meeting of stockholders,
upon the expiration of the term of a class of directors, the successor to each such director in the class will be elected to serve from
the time of election and qualification until the third annual meeting following his or her election and until his or her successor is
duly elected and qualified, in accordance with our amended and restated certificate of incorporation. Any additional directorships resulting
from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible