We wish to inform you that based on the recommendation of the Audit Committee and subect to the approval of the shareholders at the ensuring General Meeting, the Board has approved the ....
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Sahara Maritime Limited has appointed M/s G A M P & Co., Chartered Accountants (Firm Registration No. 031165N) as its new Statutory Auditor, effective September 9, 2025. This appointment fills a casual vacancy created by the resignation of the previous auditor, M/s A Y & Company (Firm Registration No. 020829C). The Board approved this on September 11, 2025, based on the Audit Committee's recommendation, but it remains subject to shareholder approval at the upcoming General Meeting. The new auditor firm was established in 2017 and offers audit, taxation, risk management, and corporate advisory services.
For shareholders, this is a routine auditor change. The mid-term switch in auditors may warrant a closer look at past audit findings or financial statements to ensure the previous auditor's departure was not due to any disagreements or concerns. The stock price is unlikely to react materially unless the reason for the prior auditor's exit raises red flags.