Re-appointment of auditors

RNS Number : 3337B

LSL Property Services

16 June 2016

 

For immediate release

16 June 2016

LSL Property Services plc ("LSL" or "Group")

Re-appointment of auditors

The Board of LSL announces its intention to recommend to shareholders the re-appointment of Ernst & Young LLP ("EY") as LSL's auditor. A resolution to approve the re-appointment of EY will be put to shareholders at the Company's AGM in 2017.

The Board's proposal to re-appoint EY as the Group's external auditor follows a recommendation by the Audit Committee to the Board based on a formal tender process overseen by the Audit Committee, as referred to in LSL's 2015 Annual Report & Accounts.

David Stewart, Chair of the Audit Committee said:

"We are pleased to have conducted a robust and comprehensive audit tender process which concluded with a shortlist of three audit firms. The tender process with the shortlisted firms included meetings with management, written submissions and formal presentations to a sub-committee of the Audit Committee. The principal evaluation criteria were audit approach, team experience and cultural fit as well as overall quality and value for money.  The Audit Committee provided the Board with a shortlist of two preferred audit firms, concluding with a recommendation to retain EY.

I am pleased that this recommendation has been accepted by the Board and I would like to thank the other firms who took part in the tender process. We look forward to continuing to work with EY."

For further information, please contact:

Ian Crabb, Group Chief Executive Officer
Adam Castleton, Group Chief Financial Officer
LSL Property Services plc	0207 382 0360
Richard Darby, Sophie McNulty, Sophie Cowles
Buchanan	0207 466 5000

Notes on LSL:

LSL is a leading provider of residential property services to its key customer groups.  Services to consumers include: residential sales, lettings, surveying, conveyancing and advice on mortgages and non-investment insurance products. Services to mortgage lenders include: valuations and panel management services, asset management and property management services. For further information, please visit LSL's website: www.lslps.co.uk

 

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