Empresaria Group PLC
08 April 2008
8 April 2008
Empresaria Group plc ("Empresaria" or the "Group")
Empresaria Group plc ("Empresaria" or the "Group"), the AIM-quoted international
staffing and recruitment specialist, is pleased to announce the completion of
its acquisition of 75% of the share capital of Lumley Employment Company Limited
("Lumley") on 4 April 2008.
The initial consideration payable amounts to £485,000, comprising £423,000 in
cash and the issue of 66,666 new ordinary shares of 5p each in Empresaria fully
paid, ranking pari passu with the existing ordinary shares ("Ordinary Shares").
Application will be made for these Ordinary Shares to be admitted to trading on
AIM and it is anticipated that dealings will commence on 14 April 2008. The
total maximum consideration payable amounts to £510,000.
Founded in 1972, Lumley has established a strong brand presence in the UK,
providing temporary and permanent catering and domestic staff to the private and
commercial sectors. Its acquisition is expected to complement the operations of
an existing Empresaria subsidiary, Greycoat Placements, positioning the Group to
strengthen its exposure to this growing sector of the market.
For further information please contact:
Empresaria 01293 649 900
Miles Hunt, Chief Executive
Nick Hall-Palmer, Finance Director
First City 020 7242 2666
Smith & Williamson Corporate Finance Limited 020 7131 4000
Azhic Basirov / Siobhan Sergeant
Notes for editors:
Empresaria Group plc (sector Support Services, staffing) provides specialist
staffing services across seventeen countries through over 40 trading
subsidiaries. Empresaria was formed in 1996 by Miles Hunt and its business model
is based on the philosophy of management equity which allows founder managers
and key staff within Empresaria's subsidiaries to acquire or retain a meaningful
stake in the businesses they run or work in.
This information is provided by RNS
The company news service from the London Stock Exchange