REG-Mothercare Plc : Adoption of Financial Reporting Standard (FRS) 101 <Origin Href="QuoteRef">MTC.L</Origin>

MothercareAnnouncement

07/03/2016 07:30

Mothercare plc 
 
 Notification to shareholders in accordance with FRS 101 
 
 Mothercare plc (the Company) has today sent a notice to shareholders, the
full text of which is set out below. 
 
 Adoption of Financial Reporting Standard (FRS) 101- Reduced Disclosure
Framework 
 
 We wish to notify you about certain proposed changes to the information that
will be disclosed in Mothercare plc's (the Company's) future annual report and
accounts. 
 
 The Financial Reporting Council (FRC) (the body responsible for setting UK
standards for accounting, auditing and actuarial work) has published a number
of new financial reporting standards which replace UK Generally Accepted
Accounting Practice (UK GAAP) in its entirety. Companies in the UK and Ireland
are required to adopt this new accounting framework in their financial
statements for 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 proposes to adopt FRS 101 "Reduced Disclosure Framework" for the
preparation of its parent company financial statements for the year ended 26
March 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 disclosures are expected to be the same
as, or to follow closely, those reported under the previous UK GAAP
requirements. 
 
 Under this new framework, the Group will continue to prepare consolidated
accounts in accordance with International Financial Reporting Standards, as
adopted by the European Union. 
 
 The Company's election to adopt FRS 101 for its parent company financial
statements does not require shareholder approval. However, as stipulated in
FRS 101, Mothercare plc is required to notify all shareholders of this
election. Any shareholder or shareholders holding an aggregate 5% or more of
the total allotted shares 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 Mothercare plc, Cherry Tree Road, Watford, Hertfordshire,
WD24 6SH no later than Monday 4 April 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.hemscott.com/nsm.do . 
 
 For further information please contact investorrelations@mothercare.com .  
 

 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: Mothercare Plc via Globenewswire 
 HUG#1991596