1. Resignation of Statutory Auditors of Material Subsidiary of the Company. 2. Appointment of Statutory Auditors of Material Subsidiary of the Company.
ABANSENT · price
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Abans Enterprises informed the exchanges that the statutory auditors of its material subsidiary, Abans Gems and Jewels Trading FZC (AGJT, based in UAE), have resigned effective November 12, 2025. M/s. Expert House Chartered Accountants stepped down mid-term, citing pre-occupation with other assignments, and confirmed there are no disputes or concerns with the company's management or financial information. To fill the casual vacancy, the subsidiary appointed Abdulaziz Panis and Shah Associates Chartered Accountants LLC (License No. 744532) for a two-year term starting November 12, 2025. The outgoing auditor had issued the limited review report for the September 2025 quarter on October 17, 2025 before resigning.
This is a routine mid-term auditor change at a UAE-based subsidiary, not the listed parent company. Since the outgoing auditor cited no governance concerns and the replacement is a well-established firm with 5,000+ clients, the change is unlikely to materially affect shareholders or the stock price.