Leader Environmental Technologies Appoints New Auditor: What Investors Must Know

Key Highlights from the Extraordinary General Meeting

• New Auditor Appointed: Forvis Mazars LLP, a notable audit firm, has been officially appointed as the new auditor of Leader Environmental Technologies Limited (“the Company”).
• Unanimous Shareholder Approval: The resolution to appoint Forvis Mazars LLP was passed with 100% shareholder support, with 438,689,600 votes in favour and none against.
• Remuneration & Terms: The remuneration and terms of engagement for Forvis Mazars LLP will be decided between the Board of Directors and the audit firm.
• Empowered Board: The Directors have been authorised to take any steps necessary to implement and finalise the appointment and related matters.

Details Investors Should Not Miss

The Extraordinary General Meeting (EGM) of Leader Environmental Technologies Limited took place on 22 September 2025 at the Novotel Singapore on Stevens. Chaired by Executive Chairman Mr. Ngoo Lin Fong, the meeting was attended by the full Board of Directors, key financial and audit representatives, and independent scrutineers, reflecting the significance of the agenda.

The sole resolution tabled before shareholders was the proposed appointment of Messrs Forvis Mazars LLP as the Company’s new external auditors. This move follows the previous auditor’s departure or non-renewal (not stated in the minutes, but inferred from the appointment of a new auditor), and is a critical development in maintaining transparency, governance, and investor confidence in the Company’s financial reporting.

The motion was proposed and seconded without any objections or questions from shareholders, indicating shareholder trust in the Board’s decision-making. The appointment is effective until the conclusion of the next Annual General Meeting, at which point shareholders will again review the auditor appointment.

The resolution also empowers the Board to execute all necessary actions and sign all relevant documents to ensure the appointment and related compliance measures are fully implemented.

Why This Matters for Shareholders and Share Price

• Audit Firm Change as a Price-Sensitive Event: Changes in auditors can signal shifts in company direction, governance standards, or address potential concerns. The appointment of Forvis Mazars LLP—a reputable firm—may reassure investors about the robustness of the Company’s financial oversight.
• Unanimous Support Indicates Confidence: The total absence of dissenting votes underlines strong shareholder confidence in both the new auditor and the Board’s stewardship.
• Potential Share Price Impact: Investor perception of improved governance and transparency often positively influences share price, especially if prior auditor changes were linked to concerns. However, the lack of controversy or dissent suggests this is a stabilising move rather than a red flag.

Conclusion

Leader Environmental Technologies Limited’s appointment of Forvis Mazars LLP as the new external auditor, with full shareholder support and Board empowerment, marks a noteworthy development in the Company’s governance framework. Investors should monitor subsequent financial disclosures and audit outcomes for further insights into the Company’s financial health and strategic direction. The smooth, transparent process could bolster investor confidence and potentially support the share price in the near term.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence or consult a professional advisor before making investment decisions.

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