Elexir Technology Holdings Limited - Resignation A
Elexir Technology Holdings Limited - Resignation And New Auditors
Appointment Of Auditors
Elexir Technology Holdings Limited
(Registration number 1998/04365/06)
Share Code: ELX
ISIN: ZAE000016663
RESIGNATION AND NEW AUDITORS APPOINTMENT OF AUDITORS
Fisher Hoffman PKF ("Fisher Hoffman") informed Elexir on 25 June 2002 of
their resignation as auditors, following, inter alia, their qualification
and adverse audit opinion as per the annual report for the year ended 31st
August 2001 (page 7) and the latest reviewed interim results. Fisher
Hoffman also reported a material irregularity to the Public Accountants and
Auditors Board in respect of the directors responsibility towards creditors
and shareholders.
Elexir have appointed Russell Bedford Southern Africa Inc ("Russell
Bedford") as their new auditors with immediate effect, who have reviewed the
material irregularity reported by Fisher Hoffman, and the reply issued by
Elexir`s directors. Russell Bedford have spoken to Elexir`s attorney`s, who
supported the comments made in the directors reply, and have formed their
own opinion in this regard. It is their belief that the reply issued by the
directors is satisfactory and no further action is required.
The directors have given serious consideration to their responsibilities to
creditors and shareholders and are still of the opinion that continued
profitable trading enhances creditor claims over the assets of the group.
(As stated in the Annual Report - page 8, and Interim report).
Johannesburg
8 July 2002
Date: 08/07/2002 11:43:04 AM Produced by the JSE SENS Department
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