netscientific
  • ABOUT US
  • TEAM
    • CAREERS
  • PORTFOLIO
  • INVESTORS
    • RNS & RNS REACH
    • FINANCIAL RESULTS
    • CORPORATE GOVERNANCE
  • NEWS
  • CONTACT US
No announcement available or all announcement expired.
netscientific
netscientific
  • ABOUT US
  • TEAM
    • CAREERS
  • PORTFOLIO
  • INVESTORS
    • RNS & RNS REACH
    • FINANCIAL RESULTS
    • CORPORATE GOVERNANCE
  • NEWS
  • CONTACT US

Adoption of reduced disclosure framework

Mar 7, 2016
-
News, RNS Announcements
RNS Number : 2859R
NetScientific PLC
07 March 2016

NetScientific plc

Adoption of the reduced disclosure framework within Financial Reporting Standard (FRS) 102

London, UK – 7th March 2016 – NetScientific plc (“NetScientific”. AIM: NSCI), the transatlantic biomedical and healthcare technology group, today announces that following the publication of FRS 100 ‘Application of Financial Reporting Requirements’ by the Financial Reporting Council, it is required to change the accounting framework for its entity financial statements and those of its UK subsidiaries, which currently adopt UK GAAP. It is intended for the period ended 31 December 2015 and future years that the parent entity and its UK subsidiaries adopt FRS 102, which is based on International Financial Reporting Standards as adopted by the European Union.  As part of the adoption of FRS 102, the parent entity and its UK subsidiaries intend to take advantage of the “Reduced Disclosure Framework” available within FRS 102.  

NetScientific plc’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. 

Shareholder approval to adopt FRS102 is not required. However, due to the election to take certain disclosure exemptions permitted under FRS 102, the Company is required to notify shareholders of this election and any shareholder or shareholders holding in aggregate 5 per cent or more of the total allotted shares in the Company may object. Any objections must be served in writing prior to 6th April 2016 to the Company Secretary at the Company’s registered office (Anglo House, Bell Lane Office Village, Bell Lane, Amersham, Buckinghamshire HP6 6FA).

About NetScientific

NetScientific is a biomedical and healthcare technology group that funds and develops technologies that offer transformative benefits to people’s lives and society through improved diagnosis, prognosis and treatment.

For more information, please visit the website at www.netscientific.net. 

 

 

– Ends –

 

Contact Details

NetScientific

François R. Martelet, M.D., CEO

Mark Nanovich, Interim CFO

 

Tel: +44 (0)20 3514 1800

 

Investec (NOMAD and broker)

Gary Clarence / Daniel Adams

Tel: +44 (0)20 7597 4000

 

Consilium Strategic Communications

Mary-Jane Elliott / Chris Gardner / Jessica Hodgson / Chris Welsh / Laura Thornton

 

Tel: +44 (0)20 3709 5700

Email: netscientific@consilium-comms.com

 

 

  

This information is provided by RNS
The company news service from the London Stock Exchange

END

MSCFMGGFFNFGVZM

Share on FacebookShare on TwitterShare on Linkedin
← PREVIOUS POST
Wanda Forms Scientific Advisory Board
NEXT POST →
Vortex co-founder receives US Presidential award

 

NetScientific plc

Level 39,
One Canada Square,
London, E14 5AB

Tel: +44 20 3514 1800
www.netscientific.net
info@netscientific.net

  • RNS & RNS Reach
  • Financial Results
  • Financial Calendar
  • Corporate Governance
  • News
  • Historic Material
copyright
Terms of Use
Adoption of reduced disclosure framework - NetScientific
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsAccept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.