Ebiquity Regulatory News (EBQ)

5 Jul 2005 07:34

Thomson Intermedia PLC05 July 2005 Thomson Intermedia PLC ("Thomson Intermedia" or "the Company") AGM Statement At today's Annual General Meeting, John Napier, the Non-Executive Chairman will,as indicated in the company's annual report, make a statement regarding theimpact of International Financial Reporting Standards on the Group. He will say that the Board has considered the impact of adopting IFRS in duecourse. It will only have a material effect on Research and Developmentexpenditure and share options. The Group will be required to capitalise its R&D expenditure for projects whichwill result in an economic benefit to Thomson Intermedia. The Board willcontinue to take a prudent stance in its estimation for capitalising thisexpenditure. The 300,000 share options, granted after 7 November 2002, will be expensed attheir fair value less the exercise price. Share options granted to Directors on7 January 2005 have already been accounted for under FRS20 which is in line withIFRS2. The Chairman will conclude by saying the Group continues to make good progress,with current trading in line with expectations and that the Board is confidentof achieving its targets for the financial year. 5 July 2005 Enquiries: Thomson Intermedia Sarah Jane Thomson, Joint CEO Tel: 020 8466 2906David Trendle, Finance Director College Hill Adrian Duffield/Clare Warren Tel: 020 7457 2020 This information is provided by RNS The company news service from the London Stock Exchange