24 Jul 2013 07:00
For immediate release 24 July 2013
Change of Auditor
Cape plc ("Cape" or the "Company") an international leader in the provision of essential industrial services to the energy and natural resources sectors, announces that the Board has appointed Ernst & Young LLP ("EY") as auditor of the Cape Group and its subsidiaries commencing with the 2013 financial year. Having engaged PricewaterhouseCoopers LLP ("PwC") as the Company's auditor over ten years ago, the Board, on the recommendation of the Audit Committee, decided that it was appropriate to put the Company audit out to competitive tender. The tender process was initiated in May 2013 and following formal proposals and presentations from four firms, EY was successful in this process. PwC has consequently resigned as auditor of the Company.
The Board would like to thank PwC for its years of service to the Company.
Enquiries:
Karen Menzel, Director of Investor Relations +44 (0)1895 459965 /
+44 (0)7720 971638
About Cape:
Cape plc (www.capeplc.com), which is listed on the main market of the London Stock Exchange, provides a range of essential industrial services including access systems, insulation, painting, coating, blasting, industrial cleaning, training and assessment to both industrial plant operators and major international engineering and construction companies.
As a single source provider, Cape is able to provide a range of specialist multi-disciplinary services specifically tailored to meet the needs of the client providing the most intelligent and cost efficient solutions for our customers non-mechanical in-plant maintenance and capital needs.
In the year ended 31 December 2012, Cape reported adjusted revenues of £749.4 million. With scale and leading market positions across its international footprint, Cape employs over 21,000 people around the world.