Change of auditors and date of interim results

22 July 2020

Alfa Financial Software Holdings PLC

Change of auditors and confirmation of date of interim results

Alfa Financial Software Holdings PLC ("Alfa" or the "Company"), a leading developer of mission-critical software for the asset finance industry, is pleased to announce that, following a thorough competitive tender process, it has appointed RSM UK Audit LLP ("RSM") as auditor with immediate effect. 

RSM replaces Deloitte LLP ("Deloitte") which has formally resigned and has confirmed that there are no reasons or matters connected with its ceasing to hold office as auditor which it considers should be brought to the attention of the members of Alfa.

RSM will conduct the audit of Alfa's financial statements for the financial year ending 31 December 2020 including the 2020 interims.  The appointment of RSM as auditor for the following financial year will be subject to approval by shareholders at the next Annual General Meeting of the Company to be held in 2021.

Partnering is a key component of our strategy and we see increasing opportunities for partnering, not only with our existing partners, but also with other service providers.  To ensure that we can work with the widest range of partners possible, Deloitte which is one of the leading service providers to the global asset and automotive finance market, was not considered as part of the tender process for our audit.

There will need to be a transition between Deloitte and RSM which will then perform a review of results for the six months ended 30 June 2020.  We therefore anticipate that the interim results will be announced on Tuesday 29 September 2020.

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Notes to Editors

Alfa has been delivering systems and consultancy services to the global asset and automotive finance industry since 1990. Our best practice methodologies and specialised knowledge of asset finance facilitates our delivery of large software implementations and highly complex business change projects. With an excellent delivery history over nearly three decades in the industry, Alfa's experience and performance is unrivalled.

Alfa Systems, our class-leading technology platform, is at the heart of some of the world's largest asset finance companies. Key to the business case for each implementation is Alfa Systems' ability to replace multiple client systems on a single platform. Alfa Systems supports both retail and corporate business for auto, equipment, wholesale and dealer finance on a multijurisdictional basis, including leases/loans, originations and servicing. An end-to-end solution with integrated workflow and automated processing using business rules, Alfa Systems provides compelling solutions to asset finance companies.

Alfa Systems is currently used by customers or has live implementations in 26 countries and Alfa has offices in Europe, Australasia and North America.  For more information, visit www.alfasystems.com