27th Oct 2006 07:15
Accident Exchange Group PLC27 October 2006 FOR IMMEDIATE RELEASE 27 October 2006 Accident Exchange Group Plc ADOPTION OF IFRS Accident Exchange Group Plc ("Accident Exchange" or the "Company"), a leadingprovider of accident management and other solutions to the automotive andinsurance related sectors, will report its results for the year ended 30 April2007 under International Financial Reporting Standards (IFRS). The main difference between the results and net assets reported under UK GAAPand IFRS, as they apply to the consolidated results of the Group for the twoyears ended 30 April 2006, principally relate to the reversal of goodwillamortised since the transition date of 1 May 2004. Details of the Company's historic results under IFRS and a reconciliation with UK GAAP is provided in the prospectus published in connection with Accident Exchange's proposed move to the Official List. Further information will be provided in the forthcoming interim results announcement in December 2006. Copies of the prospectus are available from the Company's website at www.accidentexchange.co.uk for the lifetime of the document. The prospectus has also been submitted to the UKLA's Document Viewing Facility situated at: Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS Ends CONTACTS: Accident Exchange Group PlcSteve Evans, Chief Executive 08700-116 719Martin Andrews, Group Finance Director 08700-053 649 Numis Securities Ltd 020-7776-1500Chris Wilkinson, Corporate BrokingLee Aston, Corporate Finance Bankside 020-7367-8888Steve Liebmann or Simon Bloomfield About Accident Exchange Based in Coleshill, West Midlands, Accident Exchange delivers accidentmanagement and other solutions to automotive and insurance related sectors. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ACE.L