TIDMDGI

RNS Number : 5280K

DG Innovate PLC

06 May 2022

6 May 2022

DG Innovate plc

("DG Innovate " or the "Company")

Change of Auditor

DG Innovate (LSE: DGI) is pleased to announce the appointment of Moore Kingston Smith LLP ("Moore Kingston Smith") as auditor to the Company. The appointment of Moore Kingston Smith will be subject to approval by shareholders at the next Annual General Meeting of the Company.

The appointment of Moore Kingston Smith follows the resignation of PKF Littlejohn LLP ("PKF") as auditors to the Company. Section 519 of the Companies Act 2006 (the "Act") requires PKF to send a statement of the reasons for ceasing to hold office. They are also required, under this section of the Act, to include details of any matters that they consider need to be brought to the attention of members or creditors of the Company. They have stated that in accordance with Section 519 of the Act, they are ceasing to hold office due to the following reasons which they believe should be brought to the attention of the Company's members or creditors:

-- PKF Littlejohn LLP had been appointed as statutory auditor for the Company for a period of more than three consecutive financial years since the 31 December 2018 audit. As set out in paragraph 4.15 of the Financial Reporting Council's 2019 Revised Ethical Standard, a cap on the level of fees from permitted non-audit services is established in the fourth financial period of the audit engagement. This cap came into effect for the financial year commencing 1 January 2021 and is applied to all permitted non-audit services which are not required by law or regulation.

-- During that financial year commencing 1 January 2021, PKF Littlejohn LLP provided permitted non-audit services to the Company. These services involved a combination of those which are required by law or regulation, and those which are not.

-- As the value of the permitted non-audit services which were not required by law or regulation exceeded the fee cap, PKF Littlejohn LLP is unable to continue as the Company's auditors.

As required by the Act, DG Innovate will send a copy of PKF's resignation letter to its shareholders.

For further information please contact:

 
 DG Innovate plc                              C/O IFC 
 Christopher Theis 
  Jack Allardyce 
 
 IFC Advisory (Financial PR & IR)             020 3934 6630 
 Tim Metcalfe 
  Zach Cohen 
 
 Grant Thornton UK LLP (Financial Adviser) 
  Samantha Harrison 
  Jamie Barklem 
  Daphne Zhang 
  Ciara Donnelly                              020 7383 5100 
 
 ETX Capital (Broker)                         020 7392 1400 
 Tom Curran 
  Thomas Smith

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END

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May 06, 2022 02:01 ET (06:01 GMT)

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