Telit Communications PLC Change of auditor (4304L)
September 06 2019 - 3:00AM
UK Regulatory
TIDMTCM
RNS Number : 4304L
Telit Communications PLC
06 September 2019
6 September 2019
Telit Communications PLC
Change of auditor
Telit Communications PLC (AIM: TCM "Telit" and "Company") a
global enabler of the Internet of Things (IoT), announces that it
has appointed Mazars LLP as the Company's auditor with immediate
effect. Mazars will be the Company's auditor for the financial year
ended 31 December 2019. This appointment follows a competitive
tender process led by the audit committee.
The Company's previous auditor, Ernst & Young LLP ("EY"),
submitted its letter of resignation on 5 September 2019. The letter
stated that "in accordance with section 519(3A) of that Act, we
(EY) consider the reasons for our resignation, as detailed in this
letter, should be brought to the attention of the members or
creditors of the Company. We are ceasing to hold office following a
competitive tender, in which we did not participate. We did not
participate in the tender as the Company had indicated that they
were expecting a fee reduction and we had already determined that
the current audit fee did not provide us with an economic return
that we consider reasonable for the audit work we would need to
perform. This is the reason for our resignation."
Telit will continue to work closely with local EY offices as it
remains the auditor to a number of the Company's non-UK
subsidiaries.
Enquiries:
Telit Communications PLC Tel: +44 20 3289 3831
Paolo Dal Pino, Chief Executive
Yariv Dafna, Finance Director & President
finnCap (Nomad and Broker) Tel: +44 20 7220 0500
Henrik Persson/Giles Rolls (corporate
finance)
Tim Redfern/Richard Chambers (ECM)
Instinctif Partners Tel: +44 20 7457 2077
Adrian Duffield/Chantal Woolcock
About Telit
Telit (AIM: TCM), is a global leader in Internet of Things (IoT)
enablement. The company offers the industry's broadest portfolio of
integrated products and services for end-to-end IoT deployments -
including cellular communication modules in all technologies, GNSS,
Wi-Fi, short-to-long range wireless modules, IoT connectivity plans
and IoT platform services. Through the IoT Portal, Telit makes IoT
onboarding easy, reduces risk, time to market, complexity and costs
for asset tracking, remote monitoring and control, telematics,
industrial automation and others, across many industries and
vertical markets worldwide.
# # #
Copyright (c) 2019 Telit Communications PLC. All rights
reserved. Telit and all associated logos are trademarks of Telit
Communications PLC in the United States and other countries. Other
names used herein may be trademarks of their respective owners.
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END
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