Form 6-K NATIONAL GRID PLC For: Nov 12
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
National Grid plc |
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(Translation of registrants name into English) | ||||
1-3 Strand London WC2N 5EH, England |
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(Address of principal executive office) |
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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: [x] Form 20-F [ ] Form 40-F | ||||
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ] | ||||
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ] | ||||
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: [ ] Yes [x] No | ||||
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a |
Please see Exhibit 99.1 - Announcement sent to the London Stock Exchange on 11 November 2015:-‘National Grid appoints Deloitte as its auditor’
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
National Grid plc | ||
Date: 12 November 2015 | By: |
/s/ Megan Barnes |
Name: | Megan Barnes | |
Title: | Assistant Company Secretary | |
Exhibit No. | Description | |
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99.1 | Announcement sent to the London Stock Exchange on 11 November 2015:-‘National Grid appoints Deloitte as its auditor’ | |
11 November 2015
National Grid plc (National Grid)
National Grid appoints Deloitte as its auditor
National Grid plc announces its intention to appoint Deloitte LLP (Deloitte) as its auditor for the year ending 31 March 2018. This follows a competitive tender process for its statutory audit contract, overseen by its Audit Committee, resulting in a recommendation which was approved by the National Grid Board.
PricewaterhouseCoopers LLP (PwC), National Grids current auditor, will continue in their role and will undertake the audit of National Grid until the year ending 31 March 2017, subject to reappointment by shareholders at the July 2016 Annual General Meeting. The appointment of Deloitte will be recommended to National Grids shareholders for approval at the July 2017 Annual General Meeting.
Mark Williamson, Chairman of National Grids Audit Committee, said: We are pleased to have conducted a robust and comprehensive audit tender process which included meetings with members of the Board and senior finance managers, references, written submissions and formal presentations to the Audit Committee. The principal evaluation criteria were audit quality, team experience and cultural fit. We thank PwC for their significant contribution to date as National Grids auditors since the merger with Lattice Group plc in 2002 and prior to that as the incumbent external auditors of both the merging parties. We look forward to working with Deloitte in the future.
Contact: Megan Barnes, Assistant Company Secretary, 0207 004 3325.
Background:
As described in National Grids 2014/15 Annual Report & Accounts, the Audit Committee decided to tender the audit having considered the Competition and Market Authority Order requiring FTSE 350 companies to hold an audit tender every 10 years as well as the final European Commission (EC) regulations, which came into EU legislation in June 2014. Based on the EC transitional arrangements, the final year in which PwC could have been appointed as the Groups auditors would have been for the year ended 31 March 2020. Hence, PwC were not invited to tender. The timing of the change in auditor will help ensure both an orderly transition and compliance with external regulations on the provision of non-audit services.
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