TIDMESKN

RNS Number : 7089Q

Esken Limited

30 June 2022

30 June 2022

ESKEN LIMITED

('Esken' or 'the Group')

Audit tender outcome and annual general meeting

Esken, the aviation and renewables group, announces the outcome of its audit tender process.

During the year ended February 2022, the Company's Audit Committee agreed to undertake a tender for the position of auditor for the 2023 financial year and beyond. In the UK, as required by the Statutory Auditors and Third Country Auditors Regulations 2016 (SATCAR), all Public Interest Entities (PIEs) have to conduct a tender for audit services at least every 10 years and the February 2022 audit just concluded was the tenth provided by KPMG LLP.

A shortlist of firms to be asked to tender was agreed by the Audit Committee. The Chief Financial Officer and Group Financial Controller made contact with the shortlisted firms to enquire whether they would be in a position to tender, along with a summary of the timescales for certain milestones within the tender process. Proposals were received from the incumbent auditor, KPMG LLP, and Mazars LLP. The remaining shortlisted firms declined to tender on grounds of capacity and staffing issues with their current audits in the timeframe required.

A special Audit Committee meeting was convened where the tender documents were discussed and debated, including proposals as to fees. Subsequent to this meeting, the Audit Committee unanimously recommended the appointment of Mazars LLP to the Board. The Board agreed with that recommendation. The Audit Committee and the Board noted that Mazars LLP met the required professional standards, demonstrated a good understanding of the Group and its sectors, showed objectivity, independence and integrity, had included a competitive proposal on fees and would be well placed to serve the needs of shareholders and other stakeholders by providing a high quality service.

Further to the announcement made by the Company on 13(th) June 2022 with regard to its annual general meeting (AGM), the appointment of Mazars LLP will be the subject of Resolution 8 proposed for consideration at the AGM to be held on 13 July 2022.

 
 Esken Limited                              C/O Tulchan Communications 
 Charlie Geller, Communications Director 
 
 Tulchan Communications                               +44 207 353 4200 
 Olivia Peters / David Allchurch                esken@tulchangroup.com 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFLMFTMTTTBMT

(END) Dow Jones Newswires

June 30, 2022 02:00 ET (06:00 GMT)

Stobart Group Ld (LSE:STOB)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Stobart Group Ld.
Stobart Group Ld (LSE:STOB)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Stobart Group Ld.