Mulholland said: "The public have spoken and we all must accept the result of the referendum which is a vote to leave the European Union.
Of course I am disappointed and I feel that many people will start regret this outcome upon seeing the consequences. The pound has already dropped to its lowest value for over thirty years and the process of exit and negotiating trade deals with other countries will be lengthy and costly.
Nevertheless, I fully respect the will of the British people and with all MPs will work with Government to deliver that.
The Liberal Democrats will continue to be the progressive, forward looking, liberal force in British Politics, a force that is needed more than ever. We will fight for a better, fairer Britain and will work to build strong relations with other nations in the new context in which our nation exists.
I will of course continue to focus on campaigning locally and nationally for my constituents and campaign against injustice."