Adoption of FRS 101

RNS Number : 9660G

GETECH Group plc

12 August 2016

 

Getech Group plc

("Getech" or the "Company")

Adoption of Financial Reporting Standard ("FRS") 101

Following the publication of FRS 100 "Application of Financial Reporting Requirements" by the Financial Reporting Council, Getech is required to change its accounting framework for its entity financial statements and those of its subsidiaries which currently adopt United Kingdom Generally Accepted Accounting Standards (UK GAAP).

It is intended for the period ending 31 July 2016 and future years, that the parent entity and its subsidiaries adopt FRS 101 "Reduced Disclosure Framework", based on International Financial Reporting Standards (IFRSs) as adopted by the European Union.

The Group's consolidated financial statements are unaffected by this change, and will continue to be prepared in accordance with IFRSs as adopted by the European Union.

The decision to adopt FRS 101 does not require shareholder approval. However objections to its adoption may be served by a shareholder or shareholders holding in aggregate 5% or more of the total allotted shares of the Group, in writing, to Andrew Darbyshire, the Company Secretary, at the registered office at Kitson House, Elmete Hall, Elmete Lane, Leeds LS8 2LJ.

Enquiries:

Getech Group plc Jonathan Copus, Chief Executive	Tel:  [phone]
WH Ireland Limited Katy Mitchell	Tel:  [phone]

 

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