Change of Auditor

13 November 2024

CML Microsystems Plc

("CML", the "Company" or the "Group") 

Change of auditor

CML Microsystems Plc, which develops mixed-signal, RF and microwave semiconductors for global communications markets, announces that the Company has undertaken a formal tender process for the role of external auditor.

The Company is pleased to announce the appointment of Cooper Parry LLP ("Cooper Parry") as its new auditor replacing BDO LLP ("BDO") who have formally resigned and have not notified the Company of any reasons or matters connected with their ceasing to hold office as auditors which they consider should be brought to the attention of the members or creditors of the Company.

Cooper Parry will conduct the audit of the Company's financial statements for the financial year to 31 March 2025. The appointment of Cooper Parry as auditor for the following financial year will be subject to approval by shareholders at the next Annual General Meeting of the Company to be held in 2025.

About CML Microsystems Plc

CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.

Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.