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- Release Date: 22/02/13 10:30
- Summary: AUDITORS: GEN: Resignation of Auditors
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GEN
22/02/2013 08:30
AUDITORS
REL: 0830 HRS Genesis Research and Development Corporation Limited
AUDITORS: GEN: Resignation of Auditors
Auckland, New Zealand, 21 February 2013 - Genesis Research and Development
Corporation Ltd (NZSX/ASX: GEN) advises that Ernst & Young have resigned as
auditors of the company effective immediately.
Ernst & Young had not started the audit of the 2012 Financial Statements, so
the resignation does not reflect any disagreement over accounting issues.
They have advised of concerns regarding lack of funding, the suspension of
shares from trading on the New Zealand Stock Exchange, and lack of
information regarding the future funding of, and prospects for, the company.
As it will take some time for new auditors to be appointed and for the audit
to be completed, it is likely that the audit of the financial statements for
the year ended 31 December 2012 will not be completed by 28 February when the
results are required to be announced.
Contacts:
Catherine Yan [email protected] +852 3699 0715
End CA:00233303 For:GEN Type:AUDITORS Time:2013-02-22 08:30:45
