InterQuest Exercises Option To Buy Rest Of Rees Draper Wright (ALLISS)

LONDON (Alliance News) - Technology sector recruiter InterQuest Group PLC on Tuesday said it has exercised its option to buy the shares in executive search firm Rees Draper Wright it does not already own.

InterQuest agreed to buy a majority stake in Rees Draper Wright in August, though it did not provide any details about how much of the firm it bought in the first transaction. The deal included an option to take full ownership of the firm.

That option has now been exercised and will be paid in cash and shares, though details on the cash portion of the consideration were not disclosed. The share portion of the final consideration will be 205,333 InterQuest shares.

The firm's shares were trading at 34.60 pence on Tuesday, up 1.8% for the day. At that price, the share consideration for the final part of Rees Draper Wright would be worth GBP71,045.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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