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CHINA STARCH HOLDINGS LIMITED中 國 澱 粉 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 3838) CHANGE OF AUDITORThis announcement is made by China Starch Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The board of directors (the "Board") of the Company announces that PricewaterhouseCoopers ("PwC") resigned from the office of auditor of the Company with effect from 19 October 2016, as the Company and PwC could not reach an agreement on the audit fee for the financial year ending 31 December 2016.
The Company is incorporated under the laws of the Cayman Islands and to the knowledge of the Board there is no requirement under the laws of the Cayman Islands for the resigning auditor to confirm whether or not there is any circumstance connected with their resignation which they consider should be brought to the attention of the Company's members and creditors. PwC has therefore not issued such confirmation.
PwC has not commenced any audit work on the accounts of the Group for the financial year ending 31 December 2016. It is expected that the change of auditor will not have any significant impact on the annual audit for the financial year ending 31 December 2016. The Board also confirm that there is no disagreement between PwC and the Company (save for the said audit fee), and there is no other matter in respect of the proposed change of auditor and the resignation of PwC that need to be brought to the attention of the shareholders of the Company.
The Board further announces that, with the recommendation from the audit committee of the Board, SHINEWING (HK) CPA Limited has been appointed as the new auditor of the Company with effect from 19 October 2016 to fill the casual vacancy following the resignation of PwC and to hold office until the conclusion of the next annual general meeting of the Company.
The Board would take this opportunity to express its gratitude to PwC for their professional services rendered to the Group in the past.
By order of the Board
CHINA STARCH HOLDINGS LIMITED Tian QixiangChairman
Shouguang, The People's Republic of China, 19 October 2016
As at the date of this announcement, the directors of the Company are:
Executive Directors:Mr. Tian Qixiang (Chairman)
Mr. Gao Shijun (Chief Executive Officer)
Mr. Yu Yingquan Mr. Liu Xianggang
Independent non-executive Directors:Professor Hua Qiang Mr. Sun Mingdao
Mr. Yue Kwai Wa, Ken