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LONDON – Grit Income Group Limited, a leading pan-African real estate investment company, has announced the appointment of MacIntyre Hudson (NYSE:) LLP (MHA) and Baker Tilly CI Audit Limited (BTCI) as its new auditors, replacing PricewaterhouseCoopers LLP ( PwC). The change complies with UK and Mauritius corporate governance codes, which require mandatory audit firm rotation for listed companies.
PwC, which has been auditing Grit since the 2017/18 financial year, will step down following the governance recommendation that audit firms should rotate every seven years. In preparation for the transition, Grit conducted an external bidding process that culminated in the selection of MHA and BTCI. The new auditors will oversee the company’s financial statements for the year ending June 30, 2025, and their re-election is subject to shareholder approval at the 2025 Annual General Meeting.
Grit has expressed its gratitude to PwC for its services over the past few years. PwC has confirmed that there are no unresolved issues relating to his resignation that need to be communicated to the company’s members or creditors under section 273 of the Companies (Guernsey) Law 2008.
Auditor rotation is part of ongoing efforts to ensure transparency and maintain the integrity of financial reporting. MHA, the incoming auditor, is a firm registered in England and an independent member of Baker Tilly International, providing assurance of its global standards and practices.
This change comes as Grit continues to focus on investing and managing a diverse portfolio of assets in selected African countries, with the aim of providing sustainable income and growth potential for shareholders. The company is mainly listed on the London Stock Exchange (LON:) and a secondary listing on the Mauritius Stock Exchange.
Information regarding auditor rotation is based on a press release issued by Grit Real Estate Income Group Limited.
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