Change of Auditor

RNS Number : 8805Y

Standard Life Private Eqty Trst PLC

28 August 2018

 

28 AUGUST 2018

STANDARD LIFE PRIVATE EQUITY TRUST PLC

CHANGE OF AUDITOR

Following a formal tender process, Standard Life Private Equity Trust plc is pleased to announce the appointment of BDO LLP ("BDO") as its new auditor with effect from 24 August 2018. BDO will conduct the audit of the Company's financial statements for the financial year to 30 September 2018. The appointment of BDO as auditor for the following financial year will be subject to approval by shareholders at the next Annual General Meeting of the Company to be held in 2019.

This appointment follows the decision by KPMG LLP (KPMG) to resign as auditor of the Company due to the proposed acquisition of Standard Life Assurance Limited by Phoenix Group Holdings.  This placed KPMG in a position of conflict that prevented them from acting as auditors to the Company.

In accordance with section 519 of the Companies Act 2006, KPMG has deposited a statement with the Company detailing the circumstances connected with them ceasing to hold office as auditor of the Company (the "Statement"). The Statement confirms that KPMG resigned as auditor of the Company due to the acquisition of the Company's parent undertaking by Phoenix Group Holdings. A copy of the Statement will be sent to every person who is entitled to receive a copy of the Company's Annual Reports and Financial Statements.

For further information please contact:-

Mandy Kelly

Maven Capital Partners UK LLP

Secretary

Tel: [phone]

 

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