Result of Statutory Audit Tender

RNS Number : 7615P

Diploma PLC

05 September 2017

 

DIPLOMA PLC

                                           12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX

TELEPHONE: [phone]

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FOR IMMEDIATE RELEASE

5 September 2017

Diploma PLC ("the Company") to propose the appointment of PricewaterhouseCoopers LLP ("PwC") as auditor

Diploma announces its intention to appoint PricewaterhouseCoopers LLP as its auditor for the financial year ending 30 September 2018, subject to shareholder approval at the 2018 AGM.

This follows a competitive tender process for its statutory audit contract, overseen by the Company's Audit Committee, resulting in a recommendation which was approved by the Company's Board. Deloitte LLP ("Deloitte"), Diploma's current external auditor, will continue in its role and, further to reappointment by the Company's shareholders at the 2017 Annual General Meeting held on 18 January 2017, will undertake the audit of the Group and Company for the financial year ending 30 September 2017. The appointment of PwC will be recommended to Diploma's shareholders for approval at the 2018 Annual General Meeting on 17 January 2018.

Anne Thorburn, Chair of the Audit Committee during the tender process, said:

"We would like to thank Deloitte for its significant contribution to the Company and the work it has carried out to provide assurance to the Company's Board and shareholders during its time as the Company's auditor. The Committee has conducted detailed diligence as part of a thorough audit tender process to ensure that our principal criteria of capability, audit quality and cultural fit were met."

For further information, please contact:

Diploma PLC -	[phone]
Anthony Gallagher, Group Company Secretary

NOTE TO EDITORS:

·      In Diploma's Annual Report and Accounts for the year ended 30 September 2016, the Company's Audit Committee disclosed that it had commenced a pre-selection process with a number of audit firms in preparation for an audit tender in 2017, with the intention to recommend and have ready for appointment a new auditor at the 2018 AGM.

·      Annual appointment of external auditors by AGM is required under UK law. UK and EU law now requires an auditor's maximum period as auditor to a listed company to be 20 years, with a competitive tender process required at least once every 10 years.

Further information on Diploma PLC can be found at www.diplomaplc.com

LEI: 2138000G17VY8FGR19

 

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