Press release: NEXGRAM’S SHAREHOLDERS APPROVED CHANGE OF AUDITORS [Press- 15 June 16]

Kuala Lumpur, 15 June 2016: In a filling with Bursa Malaysia Securities Berhad today, Nexgram Holdings Berhad (Nexgram, 0096) said that it has obtained shareholders’ approval for appointment of Adam & Co. as the new auditors in place of the existing auditors, CHI-LLTC who has tendered its resignation.

The former auditors resigned effective 15 June 2016 and the new auditors are appointed until the conclusion of the next annual general meeting.

“After evaluating the audit engagement proposal of Adam & Co., including the adequacy of their resources, experiences, number of experienced supervisory and professional staff to be assigned to the audit of Nexgram from Adam & Co., the Board believes that Adam & Co. will be able to meet the audit obligations in compliance with the Listing Requirement and regulatory,” the Company said.

To recap, CHI-LTLC tendered resignation on 18 January 2016 due to Nexgram’s expansion plan and the unavailability of CHI-LLTC’s recently-reduced workforce to handle the increasing work. Nexgram issued a circular to shareholders on 31 May 2016 to seek approval for proposed appointment of Adam & Co.