16
August 2024
discoverIE Group
plc
Auditor
Resignation
discoverIE Group plc (LSE: DSCV,
"discoverIE" or "the Company"), a leading international designer
and manufacturer of customised electronics to industry, announces
that, in accordance with section 520(2) of
the Companies Act 2006, the Company has received a statutory
statement from PricewaterhouseCoopers LLP ("PwC") in connection
with its resignation as auditor of the Company.
The resignation of PwC follows a
competitive tender process undertaken by the Company for the
position of statutory auditor. Following this process,
shareholders approved the appointment of Deloitte LLP as auditor of
the Company at the Annual General Meeting on 26 July
2024.
A copy of the section 519 statement
of reasons provided by PwC is available to view on the Company's
website (www.discoverieplc.com).
Hard copies have been posted to those shareholders who have elected
to receive paper communications.
For further information, please
contact:
discoverIE Group plc
Greg Davidson - Company
Secretary 01483 544 500
Burson Buchanan
Chris Lane, Toto Berger, Jack
Devoy 020 7466 5000
discoverIE@buchanan.uk.com
Notes to Editors:
About discoverIE Group plc
discoverIE Group plc is an
international group of businesses that design and manufacture
innovative electronic components for industrial
applications.
The Group provides
application-specific components to original equipment manufacturers
("OEMs") internationally through its two divisions, Magnetics &
Controls, and Sensing & Connectivity. By designing components
that meet customers' unique requirements, which are then
manufactured and supplied throughout the life of their production,
a high level of repeating revenue is generated with long-term
customer relationships.
With a focus on sustainable key
markets driven by structural growth and increasing electronic
content, namely renewable energy, medical, electrification of
transportation and industrial automation & connectivity, the
Group aims to achieve organic growth that is well ahead of GDP and
to supplement that with complementary acquisitions. The Group is
committed to reducing the impact of its operations on the
environment with an SBTi-aligned plan to reach net zero. With its
key markets aligned with a sustainable future, the Group has been
awarded an ESG "AA" rating by MSCI and is Regional (Europe) Top
Rated by Sustainalytics.
The Group employs c.4,500 people
across 20 countries with its principal operating units located in
Continental Europe, the UK, China, Sri Lanka, India and North
America.
discoverIE is listed on the Main
Market of the London Stock Exchange and is a member of the FTSE250,
classified within the Electrical Components and Equipment
subsector.