Last checked at 29 Jan 2020 07:00
29 January 2020
Hill & Smith Holdings PLC
Change of Auditor 2020
Hill & Smith Holdings PLC ('Hill & Smith' or 'the Group'), the international group with leading positions in the supply of infrastructure products and galvanizing services to global markets, today announces that, following the conclusion of a formal competitive tender process led by its Audit Committee, the Board has approved the proposed appointment of Ernst & Young LLP ("EY") as its external auditor to take effect from, and including, the financial year ending 31 December 2020.
The appointment of EY will be recommended to shareholders for approval at the Group's Annual General Meeting in May 2020. KPMG LLP ("KPMG") will continue in its role as external auditor to the Group for the current year ending 31 December 2019. KPMG did not participate in the tender due to the length of its current appointment. Further disclosure on the formal competitive tender process conducted by the Audit Committee will be set out in the Group's 2019 Annual Report.
Mark Reckitt, Chairman of the Audit Committee, said: "We would like to thank KPMG for its significant contribution as Hill & Smith's auditors over recent years. Subject to shareholder approval at the 2020 AGM, we look forward to working with EY in the future."
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For further information, please contact:
Hill & Smith Holdings PLC
Derek Muir, CEO Tel: +44 (0)121 704 7430
Hannah Nichols, CFO
MHP Communications
Andrew Jaques/Ollie Hoare
Notes to Editors
Hill & Smith Holdings PLC is an international group with leading positions in the design, manufacture and supply of infrastructure products and galvanizing services to global markets. It serves its customers from facilities principally in the UK, France, USA, Sweden, Norway, India and Australia.
The Group's operations are organised into three main business segments:
Infrastructure Products - Roads, supplying products and services such as permanent and temporary road safety barriers, hostile vehicle mitigation products, street lighting columns, bridge parapets, temporary car parks and variable road messaging solutions.
Infrastructure Products - Utilities, supplying products and services such as pipe supports for the power and liquid natural gas markets, energy grid components, composite products, industrial flooring, handrails, access covers and security fencing.
Galvanizing Services which provides zinc and other coatings for a wide range of products including fencing, lighting columns, structural steel work, bridges, agricultural and other products for the infrastructure and construction markets.
Headquartered in the UK and quoted on the London Stock Exchange (LSE: HILS.L), Hill & Smith Holdings PLC employs some 4,650 staff, principally in 7 countries.
Stock Exchange (LSE: HILS.L), Hill & Smith Holdings PLC employs some 4,650 staff, principally in 7 countries.