Elecosoft PLC Notification to Shareholders (6979S)
March 21 2016 - 3:01AM
UK Regulatory
TIDMELCO
RNS Number : 6979S
Elecosoft PLC
21 March 2016
21 March 2016
Elecosoft plc
("Elecosoft" or the "Company")
Notification to Shareholders in accordance with FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of
Ireland"
Adoption of Financial Reporting Standard (FRS) 102 for parent
company financial statements
Following the publication of FRS 100 Application of Financial
Reporting Requirements by the Financial Reporting Council (FRC),
Elecosoft plc is required to change the accounting framework for
its parent entity financial statements and those of its
subsidiaries, which have up until now adopted UK Generally Accepted
Accounting Practice (UK GAAP).
The consolidated financial statements of the Group are and will
continue to be prepared in accordance with International Financial
Reporting Standards (IFRS), and no changes are required. For the
individual accounts of the parent entity and its UK subsidiaries,
the Board considers that it is in the best interests of the Group
to adopt FRS 102 "The Financial Reporting Standard applicable in
the UK and Republic of Ireland".
The Company's decision to adopt FRS 102 for its parent entity
financial statements and those of its UK subsidiaries does not
require shareholder approval. However, due to the election to take
the disclosure exemptions permitted under FRS 102, the Company is
required to notify all shareholders of this election. No
disclosures in the previous UK GAAP financial statements would be
omitted on adoption of the disclosure exemptions under FRS 102.
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 the Company's registered office at 66 Clifton Street,
London, EC2A 4HB not later than 4 April 2016.
This notification will apply on an ongoing basis until such time
as the Company notifies its shareholders of any change to its
chosen accounting framework for the parent company financial
statements.
For further information
please contact:
Elecosoft plc www.eleco.com
JHB Ketteley , Executive Tel: 0207 422 0044
Chairman
Nick Caw, Chief Executive
Officer
finnCap Ltd
Geoff Nash / Kate Bannatyne Tel: 0207 220 0500
(Corporate Finance)
Malar Velaigam (Corporate
Broking)
Redleaf Communications
Rebecca Sanders-Hewett Tel: 0207 382 4730
/ David Ison elecosoft@redleafpr.com
/ Susie Hudson
About Elecosoft plc
Elecosoft plc specialises in the development and delivery of
integrated software and services solutions to the global
Architectural, Engineering and Construction industry. Their
solutions cover the full project lifecycle with offerings that help
bring together project management, construction, timber
engineering, design, 3D visualisation and marketing
communities.
The Group operates principally in Sweden, Germany, the UK and
increasingly in other markets worldwide.
Elecosoft plc is listed on the Alternative Investment Market in
London (AIM: ELCO).
For more information please visit www.elecosoft.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUASNRNRAOURR
(END) Dow Jones Newswires
March 21, 2016 03:01 ET (07:01 GMT)
Eleco Public (LSE:ELCO)
Historical Stock Chart
From May 2024 to Jun 2024
Eleco Public (LSE:ELCO)
Historical Stock Chart
From Jun 2023 to Jun 2024