TORONTO, Aug. 4 /CNW/ - The Board of Directors of Kingsway International
Holdings Limited ("Kingsway" or the "Company") (TSX: KIH) announced today that
KPMG LLP, Chartered Accountants ("KPMG"), resigned as auditor of the Company
and that Deloitte Touche Tohmatsu ("Deloitte") has been appointed as the
Company's successor auditor.
The resignation of KPMG and the appointment of Deloitte as the successor
auditor have been approved by the Audit Committee and the Board of Directors
of the Company.
There were no reservations in the former auditor's reports for the two
most recently-completed fiscal years or for any period subsequent to the most
recently-completed period for which an audit report was issued and preceding
the date of the former auditor's resignation. There were no reportable events
between the Company and KMPG or between the Company and Deloitte.
In accordance with all regulatory requirements, Kingsway has filed a
Notice of Change of Auditor ("Notice") and has received a response letter from
KPMG, the former auditor, confirming their agreement with the information
provided in the Notice. The Company has also received a response from
Deloitte, the successor auditor, confirming their agreement with the
information provided in the Notice.
Kingsway would like to thank KPMG for their services.
About Kingsway International Holdings Limited
The Company is listed on the main board of the Toronto Stock Exchange
(TSX) under the symbol KIH. The Group is a middle tier financial services
provider, linking the global investment community with PRC's high growth
economy. In addition to engaging in proprietary investment activities, the
Group offers a variety of complementary, client focused services through its
capital markets and asset management divisions.
Founded in 1990, the Group operates from offices in Hong Kong, Beijing,
Shanghai, Shenzhen and Toronto.
FORWARD-LOOKING (SAFE HARBOUR) STATEMENTS
This press release may contain forward-looking statements that are based
on the beliefs of Management and reflect the Group's current expectations. In
certain cases, forward-looking information can be identified by the use of
words such as "estimate", "project", "belief", "anticipate", "intend",
"expect", "plan", "predict", "may", "should", "will", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information involves known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking information. There
can be no assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, investors should not place
undue reliance on forward-looking information. Forward-looking information is
provided as of the date of this press release, and the Company assumes no
obligation to update or revise them to reflect new events or circumstances.
For further information:
For further information: Gary Quedado, Kingsway Group, (416) 861-3099
Ext. 238, firstname.lastname@example.org