13 Feb 2023 07:00
13 February 2023
MJ Hudson Group plc
(the "Company")
Resignation of Auditor
Further to its announcements on 17 October and 12 December 2022, MJ Hudson Group plc (AIM:MJH), the specialist service provider to the asset management industry, announces that, late afternoon on 10 February 2023, the Company received notice from its auditor, Ernst & Young LLP ("EY") that it was tendering its resignation with immediate effect.
The letter of resignation states that "we are ceasing to hold office because we have lost trust and confidence in the Company's management and those charged with governance, and in their ability, along with your finance team, to provide us with accurate and reliable information for audit".
As required by the Companies (Jersey) Law 1991 as amended, a copy of EY's resignation letter will be distributed to each member of the Company and to each person entitled to receive notice of a general meeting of the Company within 14 days of 10th February 2023.
As noted in the announcement of 12 December 2022, the Board continues to work with an external accounting and financial services firm to assist it in achieving the necessary clarity to enable the year end FY 2022 reporting to be completed. The Board believes that this process will take some time to finalise and, during this time, the Board will commence the search for a new auditor.
The Board has now completed the initial process of seeking interest from parties to acquire some or all of the business units of the MJ Hudson Group, and it is pleased to confirm that there have been a number of encouraging initial bids for all of the business units, as well as bids for individual business units, divisions and combinations thereof, from credible potential acquirers. The process will now enter a confirmatory diligence phase before the Board will seek best and final offers. Further announcements will be made in due course.
For further information, please contact:
MJ Hudson Group plc
Geoff Miller, Executive Chairman
Matthew Hudson, CEO
+44 20 3463 3200
Cenkos Securities plc (Nomad and Broker)
Giles Balleny
Stephen Keys
Callum Davidson
+44 20 7397 8900
Buchanan (PR Adviser)
Chris Lane
Jack Devoy
George Cleary