Baqus Signs Share Option Agreement

    
  Baqus Group PLC
  30 July 2008
   

    FOR RELEASE                                                7.00 AM                                                30 JULY 2008


    BAQUS GROUP PLC
    ("Baqus" or "the Group")
    (the building consultancy and quantity surveying group)

Baqus signs a Share Option agreement with Brian Hannaby & Associates, the Liverpool based quantity surveyor and construction consultancy

    Baqus, the building consultancy and quantity surveying group, announces that it has signed a Share Option agreement for a nominal value
with Brian Hannaby & Associates, the quantity surveyors and construction consultants, with a view to acquiring the practice later this
year.
    Liverpool based Brian Hannaby & Associates was established in 1974. It specialises in transport and infrastructure projects that include
the construction of Bus Stations, Bus Garages, Light Rail schemes, Guided Busways, Airport Terminal Buildings and Transport Interchanges.
The practice provides quantity surveying, project co-ordination and audit services for projects across the UK.
    Clive Sayer, the Baqus Chief Executive, commented:
    "We are delighted to announce this share option as it provides the foundations for our first acquisition since floating on AIM in
December 2007. Brian Hannaby has an excellent reputation in the transport and infrastructure sectors, which will increase our expertise in
these important sectors."


    Contact:

    Baqus Group plc
    Clive Sayer (Chief Executive)                                              07967 132 221
    Patrick Lineen (Finance Director)                                         07818 034 452
    Seymour Pierce (Nominated Adviser and Broker)
    Mark Percy / Matthew Thomas                                            020 7107 8000
    Cubitt Consulting (Financial Public Relations Advisers)
    Brian Coleman-Smith / James Verstringhe                              020 7367 5100
      
    Background Note:

    Baqus Group

    Baqus was admitted to trading on AIM on the 14 December 2007, having raised £1.75 million through a placing of 17,500,000 Ordinary
Shares.

    The Group has been established to create a national building consultancy and quantity surveying group offering construction cost
consultancy, project management and building surveying services. The three founding firms work across a number of business sectors
including: residential, health, education, commercial, leisure, hospitality, affordable housing and conservation. Clients include commercial
companies, developers, local authorities, central government, NHS and Housing Associations. The group is seeking to expand into other
sectors including infrastructure, civil engineering and transportation.

Baqus currently comprises three established building and quantity surveying consultancies: Boxall Sayer, Denley King and Fletcher McNeill.
The combined Group covers a broad geographical area with offices located in Canterbury, Chichester, Lichfield, Liverpool, London,
Manchester, Oxford, Poole, St Albans and Winchester.

    The Quantity Surveying Market, which is highly fragmented, is estimated to be worth £1.3 billion and is dominated by a small number of
major players. Baqus' Directors believe the market is ripe for consolidation and intend to pursue a strategy of acquiring small to medium
sized Quantity Surveying practices across the country. Once acquired, the practices will be developed to produce strong organic growth,
whilst capitalising on opportunities for synergies with the rest of the Group.

    Brian Hannaby

    Brian Hannaby has a strong reputation in the transport and infrastructure sector. Projects include the construction of Bus Stations, Bus
Garages, Light Rail schemes, Guided Busways, Airport Terminal Buildings and Transport Interchanges. 

    The firms' core business is offering quantity surveying, project co-ordination and audit services for clients in the transport and
infrastructure sector. Projects the company has worked on include preparing the cost estimates for the £250million Metrolink Phase 1 and 2
Tram Schemes in Manchester, project co-ordination for the procurement and construction of the $40million Bridgewater Hall in Manchester and
the capital cost audit on behalf of the Department for Transport for the £90million Oxford Guided Busway.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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