Business
Adoption of Financial Reporting Standard (FRS) 101
Adoption of Financial Reporting Standard (FRS) 101.
About this update from Iomart Group Plc
[{"type":"text","content":"\n \nRNS Number : 0177R Iomart Group PLC 03 March 2016 \n\n \n \niomart Group plc\n(\"iomart\" or the \"Company\")\n \nAdoption of Financial Reporting Standard (FRS) 101 - Reduced Disclosure Framework\n \niomart announces that following the publication of FRS 100 'Application of Financial Reporting Requirements' by the Financial Reporting Council, the Company is required to change the 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 year ended 31 March 2016 and future years that the parent entity and its subsidiaries adopt FRS 101 'Reduced Disclosure Framework', based on International Financial Reporting Standards (IFRS) as adopted by the European Union.\n \niomart's consolidated financial statements are unaffected by this change, and will continue to be prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union.\n \nObjections to the use of the disclosure exemptions may be served by a shareholder or shareholders holding in aggregate 5% or more of the total allotted shares of the Company in writing to Bruce Hall, Company Secretary, at its registered office (iomart Group plc, Lister Pavilion, Kelvin Campus, West of Scotland Science Park, Glasgow G20 0SP) not later than 31 March 2016.\n \n \n \n \nEnquiries: \n \niomart Group plc\nBruce Hall 0141-931-6400\nCompany Secretary\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBRGDXSBGBGLX\n ","length":3175,"tagName":"div"}]