PGC shares suspended
PwC will qualify its audit in relation to the PGC subsidiary Torchlight Group's stake in the Torchlight Fund.
There was a delay in the audit of Australian-based RCL, which is one of the Torchlight Fund’s real estate holdings. This has delayed the completion of the Torchlight Fund audit.
PGC subsidiary Torchlight Group holds about 28% of the Torchlight Fund, which in turn holds 100% of RCL. Both Torchlight Fund and RCL are also audited by PwC.
As the audit of RCL is not yet complete, PwC have advised that they will issue a qualified audit opinion.
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