Syndication The Punt

Play It Again Sam

by : peterprofitracing
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Dear REDACTED

I am writing to let you know that in the coming days there may be media reporting of an issue that is linked to First Light Racing and other companies and individuals regarding the conduct of former Director Sam Kilkenny.

Before I outline the details, I want to first personally assure you that the matter has no impact on our clients and no client funds have been impacted.

Further, there is no impact to the operations of First Light Racing. The business is strong and we’re looking forward to a great Spring racing season.

The facts are these: In July this year, First Light Racing became aware of some potential accounting inconsistencies which we immediately flagged with our external accountants.

Further investigations found that Sam Kilkenny and the external accounting firm were not meeting the compliance and accounting standards we expect. First Light Racing immediately ended our association with those Accountants and that firm’s partner Sam Kilkenny, who was also a director of our company at the time.

First Light Racing has subsequently learned of other individuals and companies who have taken similar action against Sam Kilkenny and the Accounting firm.

We cannot comment further as these matters may be subject to future legal action.

Thank you for your understanding and your loyalty. I am available to discuss this further with you personally.

Yours sincerely,

Tim Wilson
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