Premier Veterinary Group PLC Change of Auditor (0214S)
28 September 2017 - 2:32AM
UK Regulatory
TIDMPVG
RNS Number : 0214S
Premier Veterinary Group PLC
27 September 2017
PREMIER VETERINARY GROUP PLC
("PVG", the "Company" or the "Group")
Change of Auditor
London, UK, 27 September 2017 - Premier Veterinary Group plc
(LSE: PVG) announces that following a tender process led by the
Audit Committee, the Board of Premier Veterinary Group PLC has
approved the proposed appointment of PricewaterhouseCoopers LLP as
the Company's auditor for the financial year ending 30 September
2017.
The Company has reached mutual agreement with its present
auditors, Grant Thornton UK LLP ("Grant Thornton"), that with
effect from the 20 September 2017, Grant Thornton should no longer
act as the Company's auditor.
Grant Thornton's corporate finance team were engaged as lead
advisor in August 2016 to support the potential disposal
negotiations of the Premier Buying Group division. In light of the
Revised Ethical Standard issued by the Financial Reporting Council
and the FRC's subsequent Staff Guidance Notes, the Company's Audit
Committee and Grant Thornton have agreed that Grant Thornton's
independence could be impaired by their provision of certain
non-audit services.
The Company and Grant Thornton have therefore mutually agreed
that auditor independence is best safeguarded by Grant Thornton's
resignation as auditor of the Company.
As required by section 519 of the Companies Act 2006 (the
"Act"), Grant Thornton has deposited a statement with the Company
of the circumstances connected with it ceasing to hold office as
auditor of the Company. In accordance with the requirements of
section 520 of the Act, a copy of the statement received from Grant
Thornton will be sent to all shareholders.
The Company would like to thank Grant Thornton for its service
to the Company.
For further information, please contact:
Premier Veterinary Group plc Tel: +44 (0)117 970 4130
Dominic Tonner, Chief Executive Officer
Will Evans, Chief Financial Officer
Note to Editors:
PVG's services to third party veterinary practices, through its
wholly-owned subsidiary, Premier Vet Alliance Limited ("PVA"),
include the administration and support of a preventative healthcare
programme for pets branded "Premier Pet Care Plan" ("PPCP"). In the
US, where veterinary practices are known as veterinary hospitals,
PPCP is marketed through the Company's wholly owned subsidiary,
Premier Vet Alliance (US) Limited.
PPCP is a structured, preventative healthcare programme for
cats, dogs and rabbits and is available only through veterinary
practices/hospitals. The programme is seen as a way of providing
gold standard care for pets at an affordable price for the client,
by way of fixed monthly payments.
PPCP uses a clinical approach to prevention, as this is the most
effective method of ensuring illnesses are diagnosed more quickly
and not
given a chance to advance. What truly sets PPCP apart is its
unique approach of offering an end-to-end solution and support to
the practice/hospital, which has been proven to work extremely
well. PVA works alongside practices/hospitals to create a
tailor-made, cost-effective service for clients, one that delivers
excellent care to their patients and significantly improves
practice/hospital performance.
For further details:
http://www.premiervetgroup.co.uk/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 27, 2017 12:32 ET (16:32 GMT)
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