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Share Name | Share Symbol | Market | Type |
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Hochtief AG | TG:HOT | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.10 | 0.09% | 106.50 | 105.80 | 107.00 | 107.20 | 104.80 | 106.20 | 2,885 | 22:50:02 |
RNS Number:9284T Hot Group PLC 07 January 2004 7 January 2004 hot group plc ("hot group" or the "Company") Acquisition of The Graduate Group Limited ("The Graduate") On 6 January 2004 hot group, the AIM listed recruitment specialist, completed the acquisition of the entire issued share capital of The Graduate, a business specialising in graduate recruitment in the UK and Europe ("Acquisition"). The aggregate consideration payable in respect of the Acquisition comprises: * Initial consideration of #325,000, to be satisfied as to #125,000 in cash and #200,000, to be satisfied by the issue of 1,085,776 new ordinary shares of 10p each in hot group ("New Ordinary Shares"); * Deferred consideration of up to #75,000, to be satisfied in cash, which will be subject to adjustment based on the net assets of The Graduate on completion of the Acquisition; and * Earn-out consideration which will become payable on the achievement by The Graduate of certain profit targets during the 12 month period immediately following completion of the Acquisition. Any earn-out consideration which becomes payable is expected to be satisfied in cash. For the year ended 30 November 2002, The Graduate recorded turnover of #205,807, a loss before taxation of #89,874 and as at 30 November 2002 had net liabilities of #73,241. The Acquisition is in line with hot group's strategy of growing its business by acquiring selective online and traditional recruitment businesses, and complements hot group's recruitment site for young people, hotrecruit.com, and further strengthens its position as a leading online recruitment service for young jobseekers. hot group Chairman and Chief Executive Tony Reeves said: "The Graduate's strong client base and reputation complements our existing student business and takes us into a new market area. Synergies with hotrecruit.com will enable us to provide a more rounded offering and will further strengthen our online division's employer's direct product. The Graduate uses a unique and highly effective network of student representatives on the campuses of top universities which we will utilise to market hotrecruit.com. It is our ultimate aim to build hotrecruit.com into the UK's leading young person's jobsite, targeting school leavers, seasonal workers, students, graduates and first and second time jobseekers." Application will be made to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM. It is expected that dealings in the New Ordinary Shares will commence on 13 January 2004. Enquiries: Tony Reeves Chairman and Chief Executive Officer Tel: (0870) 202 0121 Steve Wright Finance Director Tel: (0870) 202 0121 Simon Raggett /Angela Peace Strand Partners Limited Tel: 020 7409 3494 Hugo de Salis/Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange END ACQILFFTLLIRIIS
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