Servoca Regulatory News (SVCA)

23 Jan 2006 16:24

Multi Group PLC23 January 2006 Multi Group Plc Acquisition of Global Medics Limited On 23 December 2005 Multi Group Plc ("Multi" or "Company") announced theproposed acquisition of Global Medics Limited ("Global Medics"), a nationalprovider of doctors on locum and substantive contracts to the NHS and privatesector health providers ("the Acquisition"). The Acquisition is classified as areverse transaction under the AIM Rules and as such requires the approval ofshareholders. The Acquisition also requires amendments to be made to theCompany's articles of association and thus an extraordinary general meeting ofthe Company was convened for 11.00am today. In the period between the announcement of the Acquisition and today's EGM therehas been media coverage regarding budgetary constraints facing the NHS and thedirectors of Multi have become aware of the adverse effect that such constraintshave caused to the medical recruitment market. Following discussions with thevendors of Global Medics, the parties have reached agreement to vary the termsof the Acquisition in order to reflect the changed market circumstances. As a consequence, the business of today's extraordinary general meeting has beenadjourned for consideration at a new EGM which will be held at 11.00am on 16February 2006 at the offices of Kirkpatrick & Lockhart Nicholson Graham LLP, 110Cannon Street, London EC4N 6AR. Details of the revised terms of the Acquisition will be sent to shareholderstogether with a notice convening the new EGM as soon as possible and furtherannouncements will be made in due course. The application made for the newordinary shares to be issued as consideration for the Acquisition to be admittedto trading on AIM with effect from tomorrow has been withdrawn and a newapplication will be made. This information is provided by RNS The company news service from the London Stock Exchange