Outsourcery PLC Adoption of Financial Reporting Standard (5145M)

TIDMOUT

RNS Number : 5145M

Outsourcery PLC

21 January 2016

21 January 2016

OUTSOURCERY PLC

("Outsourcery" or "the Company")

Adoption of Financial Reporting Standard (FRS) 101

Outsourcery plc (LSE: OUT), the UK-based Cloud Service Provider, announces that following the publication of FRS 100 'Application of Financial Reporting Requirements' by the Financial Reporting Council, Outsourcery is required to change the 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 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.

Outsourcery'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.

Objections to the use of the disclosure exemptions may be served by a shareholder or shareholders holding in aggregate 5% or more of the total allotted shares of the Company in writing to Simon Newton, Company Secretary, at its registered office (Outsourcery plc, 10 Whitfield Street, London W1T 2RE) not later than 21 February 2016.

ENDS

For further information please contact:

 
 Outsourcery plc 
  Piers Linney, Co-CEO 
  Simon Newton, Co-CEO            [phone] 
 Investec 
  Andrew Pinder / Patrick Robb 
  / Dominic Emery                 [phone] 
 FTI Consulting 
  Matt Dixon / Dwight Burden 
  / Rob Mindell                   [phone] 
 

About Outsourcery

Outsourcery is a world-leading UK-based Cloud Service Provider ("CSP"), which aims to remove the need for organisations to own and manage on-premise IT, unified communications and collaboration applications and infrastructure.

Outsourcery offers hosted software applications (software-as-a-service), cloud infrastructure (infrastructure-as-a-service) and next generation unified communications and collaboration solutions based on Microsoft Skype for Business and is capable of fully integrated solutions to meet the needs of customers, partners and the UK public sector alike.

Outsourcery's O-Cloud platform has been certified to run government classified information at 'Official' and 'Official sensitive' over the internet. This gives Outsourcery CESG Pan Government Accreditation ("PGA") to meet data sovereignty and security specifications for the public sector. The Company's Assured O-Cloud platform has been certified to run government classified information at 'Official' and 'Official sensitive' over the Public Services Network (PSN) and is aimed at UK central government departments. Outsourcery was a Finalist for Microsoft's worldwide Government Partner of the Year 2015 award and the only UK finalist.

Outsourcery has 110 employees, with offices in Manchester, London and Leicester

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCKBLFLQFFXBBL

(END) Dow Jones Newswires

January 21, 2016 02:00 ET (07:00 GMT)