16 Feb 2016 08:15
Hydrogen Group plc
("Hydrogen")
Adoption of Financial Reporting Standard FRS 101
and Notice of Results
Hydrogen Group plc (or 'the Company' or 'the Group') announces that following the publication of FRS 100 'Application of Financial Reporting Requirements' by the Financial Reporting Council, the Company is required to change the accounting framework for its Company financial statements and in particular those of its subsidiaries, which currently adopt United Kingdom Generally Accepted Accounting Practice (UK GAAP).
It is intended for the year 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 (IFRS) as adopted by the European Union.
Objections to the use of the disclosure exemptions may be served by a shareholder or shareholders holding in aggregate 5 per cent. or more of the total allotted shares of the Group in writing to the Company Secretary, at its registered office, 30 Eastcheap, London. EC3M 1HD not later than 10 March 2016.
Hydrogen Group's consolidated financial statements are unaffected by this change, and will continue to be prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union.
Notice of Results
The Group intends to report the full year results to 31 December 2015 on Tuesday 22 March 2016.
For further information, please contact:
Hydrogen Group plc +44 (0) 20 7002 0000
Ian Temple (CEO)
Colin Adams (CFO)
Shore Capital and Corporate Limited (NOMAD and Broker) +44 (0)20 7408 4090
Bidhi Bhoma/Edward Mansfield