As disclosed in VimpelCom Ltd.’s Annual Report on Form 20-F for the year ended December 31, 2013 (the “2013 20-F”), at a meeting held on December 17, 2013 the Audit Committee of VimpelCom Ltd.’s Supervisory Board recommended to the Supervisory Board that the Supervisory Board propose to VimpelCom Ltd.’s shareholders the engagement of PricewaterhouseCoopers Accountants N.V. (“PwC”) as its independent registered public accounting firm for the fiscal year ending December 31, 2014. At the same meeting, VimpelCom Ltd.’s Audit Committee of the Supervisory Board decided to ask Ernst & Young Accountants LLP (“EY”) to resign as independent registered public accounting firm for VimpelCom Ltd. and its subsidiary companies.
On June 12, 2014, EY provided VimpelCom Ltd. a resignation letter to resign as auditor for VimpelCom Ltd. and its subsidiary companies with effect as of the same day. In its resignation letter, EY confirmed, for the purposes of section 89 (3) of the Companies Act 1981 of Bermuda, that there are no circumstances or reasons associated with its resignation which it would bring to the attention of the successor auditor to VimpelCom Ltd.
The recommendation to appoint PwC as VimpelCom Ltd.’s new external auditor was the result of a tender process performed by the Supervisory Board as part of VimpelCom Ltd.’s regular review of its external auditor. This appointment will be subject to VimpelCom Ltd. shareholder approval at the next Annual General Meeting of Shareholders.