The relationship between SAX and its auditors deteriorated to the extent that the 2011/2012 annual financial statements were not finalised. As a result of the breakdown in the relationship between SAX and the auditors, I rotated Nkonki Inc as SAX's auditors at the Annual General Meeting and I appointed the Auditor- General to take over the audit of 2011/12 financial statements. The annual financial statements for the 2011/2012 will only be completed in March 2013.