De La Rue PLC Adoption of Financial Reporting Standard (FRS) 102 (7098V)
April 20 2016 - 2:00AM
UK Regulatory
TIDMDLAR
RNS Number : 7098V
De La Rue PLC
20 April 2016
De La Rue plc (the "Company")
Notification to Shareholders of Adoption of Financial Reporting
Standard (FRS) 102
On 19 April 2016, the Company sent a notice to shareholders, the
full text of which is set out below.
"ADOPTION OF FRS 102
Following the publication of FRS 100 Application of Financial
Reporting Requirements by the Financial Reporting Council, De La
Rue plc (the "Company") is required to change its accounting
framework for its entity financial statements (currently prepared
under UK GAAP) for the financial year commencing 29 March 2015.
The Board considers that it is in the best interests of the
Group for the Company to adopt FRS 102 (The Financial Reporting
Standard) with reduced disclosures. No disclosures in the current
UK GAAP financial statements would be omitted on adoption of FRS
102.
Although the decision does not require formal shareholder
approval, the Company is required to notify all shareholders and
any shareholder or shareholders holding in aggregate 5% or more of
the allotted shares in the Company may object. Please note that if
you do not have any objections to this proposal, you do not need to
take any further action. Objections to the use of the disclosure
exemptions must be served in writing to the Company's registered
office, at De La Rue House, Jays Close, Viables, Basingstoke,
Hampshire, RG224BS (for the attention of the Company Secretary) not
later than 6 May 2016.
This notification will apply on an ongoing basis until such time
as the Company notifies its shareholders of any change to its
accounting framework for the parent Company financial
statements.
The Group's consolidated financial statements will continue to
be prepared in accordance with International Financial Reporting
Standards (IFRS) and are unaffected by this new accounting
framework."
In accordance with Listing Rule 9.6.1, a copy of the
notification sent to shareholders has been submitted to the
National Storage Mechanism and will shortly be available at
www.hemscott.com/nsm.do.
For further information please contact ir@delarue.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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