Servoca Regulatory News (SVCA)

28 Jul 2006 07:54

Multi Group PLC28 July 2006 The board of Multi Group Plc ("Multi" or "Company") has become aware that thefinancial performance of Global Medics Limited ("Global"), the medicalrecruitment business acquired by Multi in February 2006, is likely to besignificantly below the level portrayed to the Company by the vendors of Globalat the date the business was acquired. As a consequence, the directors of Multi now anticipate that the Company willreport a trading loss in the current financial year, to 31 March 2007 Discussions with the vendors of Global regarding a renegotiation of thetransaction are ongoing and the board hopes to be able to report on the outcomeof these discussions by the week commencing 14 August. As a result of the above, Justyn Randall, the managing director of Global, hasresigned as a director of Multi with immediate effect. This information is provided by RNS The company news service from the London Stock Exchange