Solar project, energy storage and electric vehicle (EV) business Comtec Solar yesterday told the Hong Kong Stock Exchange Mazars had resigned as its auditor last week, citing: “The professional risk associated with the audit, and the availability of their internal resources, and the potential impact of [a] certain legal proceeding in relation to a monetary dispute between the company and a third party.”
Comtec, which endured a horrible year in 2019 and which last year decided to abandon solar manufacturing, yesterday insisted the legal dispute referred to by the Paris-based professional services membership group had been resolved “as at the date of this announcement.” It was notable that the update released yesterday referred to a decision by Mazars which became effective on Monday last week.
The legal dispute in question, added Comtec: “Was immaterial as it only involved a very insignificant amount of money … The board is of the view that there is no potential impact of the dispute on the group.” No further information was disclosed.
Comtec said it is searching for a new auditor and, in a classic example of boilerplate script, added: “The board would like to take this opportunity to express its gratitude to Mazars for their professional services rendered in the past.”
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