Diploma PLC Notice of Adoption of FRS 101 (7748A)
June 13 2016 - 11:00AM
UK Regulatory
TIDMDPLM
RNS Number : 7748A
Diploma PLC
13 June 2016
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
13 June 2016
Adoption of Financial Reporting Standard (FRS) 101 - Parent
Company Financial Statements
A new UK Generally Accepted Accounting Practice accounting
framework introduced by the Financial Reporting Council ("FRC")
became effective for the financial statements of UK companies with
accounting periods commencing on or after 1 January 2015. Under
this new framework, Diploma PLC (the "Parent Company") is required
to elect to prepare its parent company financial statements on one
of the bases permitted by the FRC.
The consolidated financial statements of the Group will continue
to be prepared in accordance with International Financial Reporting
Standards as adopted by the European Union and are unaffected by
this new accounting framework.
The Parent Company proposes to adopt Financial Reporting
Standard ("FRS") 101 "Reduced Disclosure Framework" for the
preparation of the Parent Company financial statements for the year
ended 30 September 2016 and on an ongoing basis until such time as
the Parent Company notifies shareholders of any change.
The Parent Company's election to adopt FRS 101 for its company
financial statements does not require shareholder approval.
However, as stipulated in FRS 101, the Parent Company is required
to notify all shareholders of this election. Any shareholder (or
shareholders) holding in aggregate 5% or more of the total allotted
shares in the Parent Company may serve an objection to the use of
the disclosure exemptions. Objections must be served in writing and
delivered to the Group Company Secretary at Diploma PLC, 12
Charterhouse Square, London, EC1M 6AX, United Kingdom no later than
18 July 2016.
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.morningstar.co.uk/uk/nsm.
This announcement is made pursuant to Listing Rule 9.6.3.
For further information, please contact:
+44 (0)20 7549
Diploma PLC - 5700
Anthony Gallagher, Group Company
Secretary
Note: For the purposes of DTR6.4.2R, the Home State of Diploma
PLC is the United Kingdom.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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