27 Sep 2017 17:32
PREMIER VETERINARY GROUP PLC
("PVG", the "Company" or the "Group")
Change of Auditor
London, UK, 27 September 2017 - Premier Veterinary Group plc (LSE: PVG) announces that following a tender process led by the Audit Committee, the Board of Premier Veterinary Group PLC has approved the proposed appointment of PricewaterhouseCoopers LLP as the Company's auditor for the financial year ending 30 September 2017.
The Company has reached mutual agreement with its present auditors, Grant Thornton UK LLP ("Grant Thornton"), that with effect from the 20 September 2017, Grant Thornton should no longer act as the Company's auditor.
Grant Thornton's corporate finance team were engaged as lead advisor in August 2016 to support the potential disposal negotiations of the Premier Buying Group division. In light of the Revised Ethical Standard issued by the Financial Reporting Council and the FRC's subsequent Staff Guidance Notes, the Company's Audit Committee and Grant Thornton have agreed that Grant Thornton's independence could be impaired by their provision of certain non-audit services.
The Company and Grant Thornton have therefore mutually agreed that auditor independence is best safeguarded by Grant Thornton's resignation as auditor of the Company.
As required by section 519 of the Companies Act 2006 (the "Act"), Grant Thornton has deposited a statement with the Company of the circumstances connected with it ceasing to hold office as auditor of the Company. In accordance with the requirements of section 520 of the Act, a copy of the statement received from Grant Thornton will be sent to all shareholders.
The Company would like to thank Grant Thornton for its service to the Company.
For further information, please contact:
Premier Veterinary Group plc Tel: +44 (0)117 970 4130
Dominic Tonner, Chief Executive Officer
Will Evans, Chief Financial Officer
Note to Editors:
PVG's services to third party veterinary practices, through its wholly-owned subsidiary, Premier Vet Alliance Limited ("PVA"), include the administration and support of a preventative healthcare programme for pets branded "Premier Pet Care Plan" ("PPCP"). In the US, where veterinary practices are known as veterinary hospitals, PPCP is marketed through the Company's wholly owned subsidiary, Premier Vet Alliance (US) Limited.
PPCP is a structured, preventative healthcare programme for cats, dogs and rabbits and is available only through veterinary practices/hospitals. The programme is seen as a way of providing gold standard care for pets at an affordable price for the client, by way of fixed monthly payments.
PPCP uses a clinical approach to prevention, as this is the most effective method of ensuring illnesses are diagnosed more quickly and not
given a chance to advance. What truly sets PPCP apart is its unique approach of offering an end-to-end solution and support to the practice/hospital, which has been proven to work extremely well. PVA works alongside practices/hospitals to create a tailor-made, cost-effective service for clients, one that delivers excellent care to their patients and significantly improves practice/hospital performance.
For further details:
http://www.premiervetgroup.co.uk/