CyanConnode Holdings PLC Change of Auditor and Financial Year End (2703W)
10 December 2019 - 6:00PM
UK Regulatory
TIDMCYAN
RNS Number : 2703W
CyanConnode Holdings PLC
10 December 2019
10 December 2019
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Change of Auditor and Financial Year End
CyanConnode (AIM: CYAN), a world leader in Narrowband Radio
Frequency (RF) Smart Mesh Networks, is pleased to announce that RSM
UK Audit LLP has been appointed as the Company's External
Auditor.
The QCA Corporate Governance Code recommends that the Audit
Committee reviews the length of tenure of their external audit firm
and when the audit contract should be put out to tender. As no
tenders have been carried out since 2003, the Audit Committee felt
it appropriate for one to be carried out.
Following this tender process and Board review, RSM UK Audit LLP
has been appointed as the Company's External Auditor for the
financial period ending 31 March 2020. This appointment is subject
to approval by the Company's shareholders at the next Annual
General Meeting to be held in 2020. Deloitte LLP, the Company's
previous External Auditor, did not participate in this tender and
has confirmed to the Company that there are no matters connected
with it ceasing to hold office which need to be brought to the
attention of the members or creditors of the Company, for the
purposes of section 519 of the Companies Act 2006. The Board would
like to extend its appreciation to Deloitte LLP for its many years
of service.
As part of continued operational efficiency and cost management,
the Audit Committee has reviewed the alignment of the Company's
financial year end with that of its Indian subsidiary, CyanConnode
Private Limited. The Committee concluded it rational and more
practical to use the financial year end of its Indian subsidiary,
being 31 March. The year end of its Swedish subsidiaries will also
be changed to 31 March to align with the rest of the Group.
Consequently, the Company also announces that it will be changing
its accounting reference date and financial year end from 31
December to 31 March.
Therefore, the Group's next three financial reporting events
will be as follows:
(i) Publication of unaudited interim accounts for the six-month
period ended 31 December 2019 - by 31 March 2020;
(ii) Publication of audited accounts for the fifteen-month
period ended 31 March 2020 - by 30 September 2020; and
(iii) Publication of unaudited interim accounts for the six
months ended 30 September 2020 - by 31 December 2020.
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225
060
John Cronin, Executive Chairman www.cyanconnode.com
Arden Partners Plc (Nomad and Broker) Tel: +44 (0) 20 7614
5900
Paul Shackleton / Dan Gee-Summons (Corporate
Finance)
Simon Johnson (Corporate Broking)
Yellow Jersey PR (Financial PR) Tel: +44(0) 20 3004 9512
Sarah Hollins/ Annabel Atkins cyanconnode@yellowjerseypr.com
About CyanConnode
CyanConnode (AIM:CYAN.L), is a world leader in Narrowband
Radio Frequency (RF) Smart Mesh Networks, which are used for
machine to machine (M2M) communication. As well as being self-forming
and self-healing, CyanConnode's RF Smart Mesh Networks are
designed for rapid deployment, whilst giving exceptional performance
and competitive total cost of ownership.
In June 2018, CyanConnode launched its award-winning Omnimesh
Advanced Metering Infrastructure (AMI) platform, which has
already gained considerable commercial traction, especially
in India which is a key market for the Company.
Through a Global partner eco-system, which is vendor agnostic,
CyanConnode has several routes to market, therefore it is
well positioned to capitalise upon increasing Global demand
for smart metering solutions.
For more information, please visit www.cyanconnode.com.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation 596/2014.
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.
END
MSCTLBRTMBTMBAL
(END) Dow Jones Newswires
December 10, 2019 02:00 ET (07:00 GMT)
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Apr 2024 to May 2024
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From May 2023 to May 2024