Has anyone notified shareholders regarding the adoption of accounting standard FRS101 and the Reduced Disclosure Framework? If so, do they have any documentation they are willing to share?
We didn’t have to do anything for the main plc because we are already reporting under IFRS. For subsidiaries, the paperwork will consist of internal notification letters to the parent company. Not really an issue but it’s important to have all paperwork in place.
FTSE100said
Morgan Sindall Group plc included a note in the Annual Financial Report announcement that was released on the 26 March 2014 which stated:
The Company intends to adopt Financial Reporting Standard 101 Reduced Disclosure Framework for its Parent Company financial statements unless it receives objections from shareholders holding in aggregate 5% or more of the total allotted shares before 30 September 2014.
We have not had any comment from any shareholders to this announcement.
FTSE100said
Our auditors (KPMG) informed us that we needed to notify our shareholders. Rather than write a bespoke letter to shareholders we highlighted what we were wanting to do in our Notice of AGM and provided a four week period for shareholders to voice dissent. Happy to share the documentation with the Co Sec.
We didn’t have to do anything for the main plc because we are already reporting under IFRS. For subsidiaries, the paperwork will consist of internal notification letters to the parent company. Not really an issue but it’s important to have all paperwork in place.
Morgan Sindall Group plc included a note in the Annual Financial Report announcement that was released on the 26 March 2014 which stated:
The Company intends to adopt Financial Reporting Standard 101 Reduced Disclosure Framework for its Parent Company financial statements unless it receives objections from shareholders holding in aggregate 5% or more of the total allotted shares before 30 September 2014.
We have not had any comment from any shareholders to this announcement.
Our auditors (KPMG) informed us that we needed to notify our shareholders. Rather than write a bespoke letter to shareholders we highlighted what we were wanting to do in our Notice of AGM and provided a four week period for shareholders to voice dissent. Happy to share the documentation with the Co Sec.