KUALA LUMPUR (Oct 9): Visdynamics Holdings Bhd's external auditors Messrs Adam & Co have resigned from their position effective Oct 4.

Visdynamics said in a filing with Bursa Malaysia today that the company received notice in writing from the auditors on their resignation yesterday.

"The resignation is on a voluntary basis as the company could not reach a consensus on the proposed increase to the audit fees for the financial year ending Oct 31, 2018 with Adam & Co," it added.

Adam & Co were re-appointed as the auditors of the company at the last annual general meeting (AGM) held on March 23 and was supposed to hold on to the position until the conclusion of the next AGM.

Visdynamics said it will appoint another audit firm, with further announcements to be made in due course.

Shares of Visdynamics closed unchanged at 69 sen today, with 1.34 million shares done, for a market capitalisation of RM116.58 million.