Ann: ANNREP: PGC: PGC Audit Update

• Release Date: 21/12/15 12:49
• Summary: ANNREP: PGC: PGC Audit Update
• Price Sensitive: No
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					PGC
21/12/2015 12:49
ANNREP
NOT PRICE SENSITIVE
REL: 1249 HRS Pyne Gould Corporation Limited

ANNREP: PGC: PGC Audit Update

NZX ANNOUNCEMENT

21 December 2015

PGC audit update

Pyne Gould Corporation ("PGC") previously advised the market that audited
accounts for the 12 months to 30 June 2015 were still being completed as the
company was working with its auditor, Grant Thornton, on one remaining
technical matter. The matter was a subjective issue on whether, to comply
with IFRS, Torchlight Fund LP ("TLP") should be treated as an associate or
subsidiary in 2015.

This issue has now been resolved.

In order for PGC's financial statements to be issued with an unqualified
audit opinion, PGC's Directors will now provide consolidated financial
statements at 30 June 2015 that include the results and operations of TLP and
subsidiaries from 30 September 2014.  PGC is now working to conclude the
audit as soon as possible and hold its annual general meeting thereafter.

For more information, please contact: David Lewis  +64 21 976 119
End CA:00275488 For:PGC    Type:ANNREP     Time:2015-12-21 12:49:40