Regulatory news

Regulatory news

Adoption of FRS 101

Tracsis plc

("Tracsis" or the "Group"

Adoption of FRS 101

Following the publication of FRS 100 "Application of Financial Reporting Requirements" by the Financial Reporting Council, Tracsis is required to change its accounting framework for its entity financial statements and those of its subsidiaries which currently adopt United Kingdom Generally Accepted Accounting Standards (UK GAAP).

It is intended for the period ending 31 July 2016 and future years, that the parent entity and its subsidiaries adopt FRS 101 "Reduced Disclosure Framework", based on International Financial Reporting Standards (IFRSs) as adopted by the European Union.

The Group's consolidated financial statements are unaffected by this change, and will continue to be prepared in accordance with IFRSs as adopted by the European Union.

The decision to adopt FRS 101 does not require shareholder approval. However objections to its adoption may be served by a shareholder or shareholders holding in aggregate 5% or more of the total allotted shares of the Group, in writing, to Max Cawthra, the Group's Finance Director at the registered office at Leeds Innovation Centre, 103 Clarendon Road, Leeds, LS2 9DF not later than 22 August 2016.

For more information please contact:

John McArthur/Max Cawthra, Tracsis plc

Tel: 0845 125 9162

 Dominic Emery/Matt Lewis, Investec Bank plc

Tel: 020 7597 4000

 Rebecca Sanders-Hewett / Sarah Fabietti / Sam Modlin Redleaf Communications

Tel: 0207 382 4730

Tracsis@redleafpr.com