SGC Stagecoach Group Plc

 
TIDMSGC 
 
 
   Notification to Shareholders in accordance with FRS 101 
 
   Stagecoach Group plc has posted a letter to its shareholders relating to 
the adoption of FRS 101 Reduced Disclosure Framework. This included an 
accompanying letter concerning electronic communications with 
shareholders. The full text of the FRS 101 letter is set out below. 
 
   Notice of Adoption of Financial Reporting Standard 101 ("FRS 101"): 
 
   Reduced Disclosure Framework 
 
   We wish to notify you about certain proposed changes to the information 
that will be disclosed in Stagecoach Group plc's (the "Company") parent 
company financial statements contained in the Company's future annual 
report and accounts. 
 
   A new UK GAAP accounting framework introduced by the Financial Reporting 
Council ("FRC") became mandatorily effective for the financial 
statements of UK companies with accounting periods commencing on or 
after 1 January 2015. Under this new framework, the Company is required 
to elect to prepare its parent company financial statements on one of 
the bases permitted by the FRC. The Company will continue to prepare 
consolidated accounts in accordance with EU-adopted International 
Financial Reporting Standards as these remain unaffected by the new 
accounting framework. 
 
   The Company however proposes to adopt FRS 101, a reduced disclosure 
regime, for its parent company financial statements for the year ending 
30 April 2016 and on an ongoing basis until such time as the Company 
notifies shareholders of any change to its chosen accounting framework 
for the parent company financial statements. 
 
   The Company's election to adopt FRS 101 for its parent company's 
financial statements does not require shareholder approval. However, as 
stipulated in FRS 101, the Company is required to notify all 
shareholders of this election. Any shareholder or shareholders holding 
in aggregate 5 per cent or more of the total allotted shares in the 
Company may object. Objections must be served in writing and delivered 
to the Company Secretary at Stagecoach Group plc, 10 Dunkeld Road, Perth 
PH1 5TW, United Kingdom by no later than 29 April 2016. 
 
   If you do not object to the proposal, no further action is necessary. 
 
   In accordance with the Financial Conduct Authority ("FCA") Listing Rule 
9.6.1, a copy of the notification and the electronic communications 
letter sent to shareholders have been submitted to the National Storage 
Mechanism and will shortly be available at 
http://www.morningstar.co.uk/uk/NSM. 
 
   This announcement is made pursuant to FCA Listing Rule 9.6.3. 
 
   For further information, please contact: 
 
   Stagecoach Group plc 
 
   www.stagecoach.com 
 
 
 
   Mike Vaux, Company Secretary 
 
 
 
   01738 442111 
 
   1 April 2016 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Stagecoach Group PLC via Globenewswire 
 
   HUG#1999538 
 
 
  http://www.stagecoachgroup.com 
 

(END) Dow Jones Newswires

April 01, 2016 07:00 ET (11:00 GMT)

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