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- Release Date: 04/05/12 18:03
- Summary: S/HOLDER: PGC: Letter to Shareholders - PGC
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PGC
04/05/2012 16:03
S/HOLDER
REL: 1603 HRS Pyne Gould Corporation Limited
S/HOLDER: PGC: Letter to Shareholders - PGC
Dear Shareholder
Over the last couple of days, there has been considerable media comment about
the resignation of our auditor, and our work with the Financial Markets
Authority to resolve questions they have asked.
On May 1, we announced KPMG's resignation as the PGC Group's Auditor due to
unresolved differences as to whether certain transactions should be disclosed
as related party transactions, and concerns over the adequacy of governance
and management of financial reporting. A copy of our announcement is
attached.
We strongly reject these claims. We are actively engaged in finding a new
firm to undertake the PGC group audit.
We have also acknowledged we are working with the FMA to resolve any
questions they have, and we will comment further when appropriate. PGC has
nothing to hide and we are not concerned by their presence.
Our goals revolve around growing value for our investors, whether they are
shareholders in PGC or investors in our wealth management funds, and we will
continue in our pursuit of those goals.
Yours sincerely
Bryan Mogridge
Chairman, PGC
End CA:00222570 For:PGC Type:S/HOLDER Time:2012-05-04 16:03:39
