REG - Maintel Holdings PLC - Adoption of Financial Reporting Standard 101 <Origin Href="QuoteRef">MAIH.L</Origin>

Maintel HoldingsAnnouncement

02/02/2016 15:40

RNS Number : 8428N
Maintel Holdings PLC
02 February 2016
Maintel Holdings Plc ("Maintel" or "the Company")
Adoption of Financial Reporting Standard (FRS) 101 - Reduced Disclosure Framework
Following the publication of FRS 100 "Application of Financial Reporting Requirements" by the Financial Reporting Council, Maintel Holdings Plc is required to change its accounting framework for its entity financial statements and those of its subsidiarieswhich currently adopt United Kingdom Generally Accepted Accounting Standards (UK GAAP). It isintended for the period ended 31 December 2015 and future years that the parent entity and its subsidiaries adopt FRS 101 "Reduced Disclosure Framework", based on International Financial Reporting Standards (IFRSs) as adopted by the European Union.
Maintel's consolidated financial statements are unaffected by this change, and will continue to be prepared in accordance with IFRSs as adopted by the European Union.
The Company's decision to adopt FRS 101 does not require shareholder approval. However objections to its adoption 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 Dale Todd, the Company's Finance Director at its registered office (160 Blackfriars Road, London SE1 8EZ) not later than 3 March 2016.
2 February 2016
Enquiries:
Dale Todd - Finance Director 020 7401 0562
FinnCap
Jonny Franklin-Adams / Emily Watts020 7220 0500

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