| For immediate release | 21 July 2021 |
Watkin Jones plc
('Watkin Jones', the 'Company' or the 'Group')
Change of Auditor
Watkin Jones plc (AIM:WJG), has, as previously announced, undertaken a selection process to appoint a new audit firm, as part of its adherence to best practice on corporate governance and in view of the long tenure of Ernst & Young LLP ('EY') as the Group's auditor.
The Board has now completed this process, which involved consideration of proposals from three audit firms, including one non-Big Four firm. Following a recommendation by the Audit Committee, the Board has selected Deloitte LLP ('Deloitte') to be the Company's new auditor and they will be appointed immediately following the signing of the Company's financial statements for the year ending 30 September 2021. In the meantime, Deloitte will shadow EY through the audit process for our current year-end.
A resolution for the appointment of Deloitte as auditor will be included in the 2022 Notice of Annual General Meeting.
The Board wishes to express its appreciation of the high standard of auditing that EY has provided to Watkin Jones over the last 24 years.
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For further information:
| Watkin Jones plc |
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| Richard Simpson, Chief Executive Officer | Tel: +44 (0) 20 3617 4453 | |
| Philip Byrom, Chief Financial Officer | ||
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| Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker) | Tel: +44 (0) 20 7418 8900 | |
| Mike Bell / Ed Allsopp | ||
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| Jefferies Hoare Govett (Joint Corporate Broker) | Tel: +44 (0) 20 7029 8000 | |
| Max Jones / Will Soutar | ||
Media enquiries:
| Buchanan |
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| Henry Harrison-Topham / Richard Oldworth Jamie Hooper / Steph Watson |
Tel: +44 (0) 20 7466 5000 |
| watkinjones@buchanan.uk.com | www.buchanan.uk.com |
Notes to Editors
Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent and student accommodation sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered 43,000 student beds across 130 sites, making it a key player and leader in the UK purpose-built student accommodation market. In addition, Fresh, the Group's specialist accommodation management business, manages over 20,000 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments. The Group is increasingly expanding its operations into the build to rent sector and is piloting an opportunity to re-focus its residential house building operation as a developer of affordable homes.
The Group's competitive advantage lies in its experienced management team and business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit www.watkinjonesplc.com
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