22 Jul 2010 16:28
| Date: | 22 July 2010 |
| On behalf of: | Advanced Power Components PLC ('APC' or 'the Company') |
| For immediate release |
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Advanced Power Components plc
Audit Engagement Partner
According to the ethical standards issued by the Auditing Practices Board (APB) of the Financial Reporting Council, audit engagement partners are normally subject to a limit of five years in this role. The Company's existing audit engagement partner, David Turner, has held this role for the past five years.
In certain circumstances a degree of flexibility exists in the operation of the five year rule. The audit committee of the Company and the Company's auditor, Reeves + Neylan LLP have agreed that due to the relatively recent appointment of Rob Smith, as Finance Director to the Company, it would be desirable that the audit engagement partner did not change to ensure continuity in the audit processes.
Accordingly the Directors have agreed to an extension of up to two years for David Turner in the role as audit engagement partner.
Enquiries:
| Advanced Power Components plc | 01480 226600 |
| Mark Robinson, Chief Executive Officer Rob Smith, Finance Director | www.apc-plc.co.uk |
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| Redleaf Communications | 020 7566 6727 |
| Henry Columbine/ Lucy Salaman | apc@redleafpr.com |
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| Strand Hanson Limited | 020 7409 3494 |
| James Harris/ Angela Peace |
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| Astaire Securities | 020 7448 4400 |
| Ruari McGirr |
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Notes to Editors:
About Advanced Power Components
APC plc is a leading specialist distributor of electronic components, comprising eight areas of activity:
¡ APC Hi-Reldistributes a variety of specialist electronic components into applications where component reliability is of paramount importance. Hi-Rel's franchised product lines include power semiconductors, power supplies, memory, wound and high voltage components.
¡ APC Locator is the number one solutions provider for obsolete and hard-to-find parts, with 25 years' experience in the industrial and defence/aerospace markets across Europe.
¡ APC Hero has a specialist team of Product Managers ready to assist with your next design, our key areas include LEDS/LAMPS, drivers, wireless devices and modules, Zigbee, specialist sensors and crystals (plus fast turn around on programming).
¡ APC Go!provides a kitting and materials management service to companies wanting to outsource non core activities, offering services ranging from material procurement to full production management.
¡ APC Displays+provides dedicated technical and commercial support for a wide range of LCD`s, standard, custom, TFT, e-signage, character, graphics, driver boards, IC`s, single board computers and all related connectivity.
¡ APC Novacom is a distributor and manufacturers' representative for RF and microwave frequency electronic components. The business is managed by a team of technical specialists with many years experience in the RF and Microwave industry.
¡ APC Contech is a distributor of specialist data input devices for industrial, broadcasting and medical sectors providing technically advanced solutions for specific application areas.
¡ APC KVAR is a manufacturer and distributor of power saving equipment which optimises the performance of electrical motors, leading to reduced energy consumption and cost savings.