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Company’s Response to Former Auditor Resignation
Quantum Data Energy PLC is responding to the unexpected resignation of its former auditor, Crowe UK LLP, which occurred on April 28, 2026, just two business days before the company's annual reporting deadline. The company refutes Crowe's vague reasons for resignation and is seeking clarification, while considering its legal options. Despite this, Quantum Data Energy PLC has appointed a new auditor, with clearance from the FRC, and is working diligently to complete the audit for the year ended December 31, 2025, to lift the temporary suspension of its shares. The company also cautions shareholders to rely only on official RNS announcements for information. Disclaimer*
About this update from Quantum Data Energy Plc
Quantum Data Energy PLC (Incorporated in England and Wales) (Registration Number: 12886458) LEI :213800HFVHGJ9YGO9F71 Share code on the LSE: QDE ISIN: GB00BNG90H86 Dated: 18 June 2026 Quantum Data Energy PLC ("Quantum", "QDE" or the "Company") The Company's Response to Resignation of Former Auditor London, UK - Quantum Data Energy PLC (LSE: QDE) announces, further to its RNS announcement dated 29 April 2026 (RNS Number: 2880C), the Company's response and further details regarding the resignation of its former auditor, Crowe UK LLP ("Crowe"). As previously announced, Crowe's resignation was wholly unexpected by the Company. In recent months, the Company had worked diligently and closely with Crowe to complete the audit on time, with the audit well advanced and on course to meet the LSE reporting deadline of 30 April 2026, and with no prior indication from Crowe that this would not be the case. Crowe's resignation only related to the Company, and not any of its project SPV and/or subsidiary companies where Crowe remained engaged as statutory auditor. The Company's Position The reasons that Crowe provided for their resignation as auditor of the Company were vague and expressed in hedged terms, lacking particularised details. The Company does not agree with, and categorically refutes, the reasons stated by Crowe for their resignation. Further, in the opinion of the Company and its advisers, Crowe's reasons do not provide validity to Crowe's conduct or resignation. The Company have asked Crowe for clarification and further particularised details which Crowe has not provided to date. As at the date of this announcement the process of seeking a satisfactory explanation from Crowe remains ongoing. The Company Board, having sought advice from its legal counsel, are seriously concerned about Crowe's conduct and are considering the Company's rights and actions against Crowe in respect of their conduct, and reserves all of the Company's rights in that regard. Notwithstanding Crowe's conduct and unexpected resignation, the Company made swift progress to start and complete the process to engage a replacement auditor, as recently announced on 21 May and 2 June 2026 respectively. The Company's new auditor as well as the audit regulator, the Financial Reporting Council ("FRC") have each considered the reasons ...
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