By InvestAdvocate

Lagos (INVESTADVOCATE)-Property development firm, UACN Property Development Company Plc (UPDC) said on Wednesday it has appointed Messrs Ernst & Young its new External Auditors, the company affirmed in an issuer’s announcement with the Nigerian Stock exchange (NSE).

According to UPDC, the appointment was approved at the Company’s Annual General Meeting (AGM) held on Tuesday 1 September 2015 and Messrs Ernst & Young replaces Messrs PricewaterhouseCoopers (PWC) who retired at the meeting.

Shares of UPDC at the close of Wednesday’s trading on the Nigerian bourse climbed up 4.99 percent to N7.79 from N7.42 traded the previous session; gaining 0.37 kobo per share.