ANNOUNCEMENT UNDER REGULATION 30 (LODR) - RESIGNATION OF AUDITOR
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Duke Offshore's statutory auditor, S C M K & Co LLP (FRN: W100662), has formally resigned effective 30th May 2025 after completing its mandatory five-year term under Section 139(2) of the Companies Act, 2013, and is therefore ineligible for reappointment. The auditor was originally appointed on 30th December 2020, with the term scheduled to end at the AGM to be held in 2025. Before stepping down, SCMK & Co LLP completed the statutory audit for FY ended 31st March 2025 and issued an unmodified (clean) opinion on the standalone financial results, which were approved by the Board at its meeting on 30th May 2025. The auditor explicitly stated there are no concerns, qualifications, or other material reasons behind the resignation - it is purely a routine end-of-term exit. As the audit report carries an unmodified opinion, the company is not required to file a Statement on Impact of Audit Qualification.
This is a routine, regulation-mandated auditor rotation and not a red flag - the clean audit opinion confirms the FY25 financials are free of qualifications. Shareholders should expect the company to appoint a new statutory auditor at the upcoming AGM; the transition is unlikely to affect the stock price but investors should watch for disclosure of the incoming auditor's identity.