Sch 1 Update-Cross Shore

RNS Number:8104C
AIM
24 August 2007


    ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR
                                                COMPANIES ("AIM RULES")

COMPANY NAME:


ReSearch Pharmaceutical Services Inc.

(formerly Cross Shore Acquisition Corporation)


COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):
Registered Office : Corporation Trust Centre, 1209 Range Street, Wilmington, DE 19801, USA



Principal place of business following readmission: 520 Virginia Drive, Fort Washington, PA, 19034 U.S.


COUNTRY OF INCORPORATION:


USA


COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
www.rpsweb.com


COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS
INVESTING STRATEGY).  IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
STATED:


Predominantly operating in the US and headquartered in Pennsylvania, RPS is a provider of integrated clinical
development outsourcing solutions to the bio-pharmaceutical industry. RPS services are provided in connection with the
design, initiation and management of clinical trials programs, a critical element in obtaining regulatory approval for
bio-pharmaceutical products. RPS introduced the Pharmaceutical Resource Organization ("PRO") model to address the
changing demands of the drug development industry, which continues to grow rapidly but is facing increasing pressures
to control costs and improve effectiveness. The PRO model combines the capabilities of a specialty staffing
organization with the expertise of a clinical research organization ("CRO"), enabling RPS to offer a model that is
gaining traction in the market. The success of its PRO model, which combines its newly introduced Clinical Master
Service Provider ("CMSP") program with more traditional CRO and specialty staffing related services, has resulted in
RPS' net revenues growing from $12.6 million in 2000 to approximately $84.4 million for 2006.



RPS provides a broad range of clinical development services to its clients to support the design, initiation and
management of clients' clinical trials programs, each of which are critical aspects in the regulatory approval process
for bio-pharmaceutical products. The Directors and the Proposed Directors believe that a key differentiator is RPS'
ability to deliver these services in a manner that is fully integrated with the client's infrastructure. The PRO model
contrasts with that of a traditional CRO, which focuses on performing individual clinical trials on behalf of its
client by mirroring the pharmaceutical company's infrastructure with limited interface with the client until the final
deliverable is achieved. The Directors and the Proposed Directors believe that RPS' PRO model more effectively utilizes
the existing resources, processes and systems of its clients, while enhancing real-time communication and coordination
with clients, avoiding duplicative infrastructure costs. In addition, the Directors and the Proposed Directors believe
that RPS' recruiting and staffing capabilities combined with the clinical infrastructure represent a competitive
advantage in attracting and retaining the high quality personnel required to successfully execute the PRO model and
compete with CROs.



RPS attempts to develop strong strategic relationships with its clients at the senior levels of an organization and
then designs customized outsourcing solutions that "carve-out" key functional areas of the client's clinical
development infrastructure to be outsourced to RPS. The PRO solution emphasizes close integration with the client so
that the client can selectively outsource those areas in which the greatest savings can be realized while permitting
the client to maintain control of the key medical and regulatory decision-making processes. The result is what is often
called a "functional" or "cross-functional" outsourcing model, which embeds RPS within the client's infrastructure,
creating a strategic and interdependent relationship.



RPS delivers its services through three service models:



Clinical Master Services Provider: This is a long-term strategic relationship developed with senior management within a
client's clinical, financial and procurement departments that generally involves a partial or full "carve-out" of
functional areas of the client's development efforts.



Project Solutions: The deployment of the traditional CRO approach in which RPS has full project-management
responsibility for a discrete project of finite length. Under this approach RPS is responsible for an entire trial or
specific aspects of a trial for a particular compound.



Other Solutions: Similar to staff augmentation services provided by specialized staffing firms. RPS provides personnel
on a consulting basis to its clients to supplement their own staff.



RPS is being admitted by way of reverse takeover by Cross Shore Acquisition Corporation (AIM: CSE).


DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known,
number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held
as treasury shares):


Up to 42,003,422 common shares of par value $0.0001 each ("Common Shares"); and



Up to 2,986,667 warrants to subscribe for Common Shares ("Warrants")



Shares and Warrants will trade as Restricted Reg S stock.


CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:


No capital to be raised on admission. Anticipated market capitalisation  - TBC


PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:


TBC


DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE
OR WILL BE ADMITTED OR TRADED:
None


FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or
including any other name by which each is known):
Daniel Max Perlman "Dan" (Chief Executive Officer and Chairman of the Board)

Edward Van-Ching Yang  "Ed" (Executive Director)

Harris Koffer (President, Chief Operating Officer and Executive Director)

Dennis Michael Smith (Executive Director)

Daniel Raynor "Dan" (Non-Executive Director)

Steven E. Stonefield (Non-Executive and Independent Director)

James Robert Macdonald (Non-Executive Director)




FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND
AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):


Based on the Share register as at 9 August 2007, the Company is aware of the following shareholders holding 3% or more
of the Shares of the Company:


                           Number of Shares Held               Approximate Percentage of Issued
                                                               Shares
Name                           As at 9 August    Following         As at 9 August      Following
                                              Re-admission and                     Re-admission and
                                                immediately                        immediately after
                                               after Pangaea                       Pangaea purchases
                                               purchases (1)                              (1)
CSA I, LLC                     1,805,387           5,706              7.7%               0.0%


CSA II, LLC                    1,041,583          167,420             4.5%               0.5%


CSA III, LLC                   1,330,710           42,058             5.7%               0.1%


Daniel Max Perlman "Dan"           -             2,551,613             -                 7.9%
Argentum Capital Partners          -             5,766,605             -                 17.8%
First Analysis Corporation         -             3,454,128             -                 10.7%
Highline Capital                975,900            975,90             4.2%               0.3%
LBPB Nominees Limited          1,166,667         1,166,667            5.0%               3.6%
Lehman Brothers                2.675.334          690,334            11.5%               2.1%
International
Morstan Nominees Limited       1,984,334         2,373,334            8.4%               0.0%
NCB Trust Limited              2,480,000          250,000            10.6%               0.8%
Och-Ziff Capital               3,232,334             -               13.9%               0.0%
Management
Third Point Partners           1,000,000         1,000,000           4.0 %               3.1%
Pangaea One Acquisition            -              7900,528            0.0%               24.3%
Holdings I, LLC

(1) These percentages are determined after giving effect to the repurchase of 3.0 million Founding
Shares, the issuance of the Exchange Shares to the Selling Securityholders as partial consideration
for the Acquisition, the issuance of the Sunrise Shares in connection with the Sunrise Option Tender
and assume 95.8 per cent. of the Existing Warrants are exchanged for Shares pursuant to the tender
offer and 49.9%  exercise of Repurchase Rights and subsequent cancellation of Shares by the Company.
In addition, the figures assume that Pangaea acquires 7,900,528 under off market arrangements with
Founding Shareholders and third party investors.










NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
none


(i)                  ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)                DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED

(iii)               DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:


(i) 31 December

(ii) 31 December 2006

iii) Next three results to be published on:

a) Interim results for 6 months to 30 June 2007 by 30 September 2007

b) Annual results for 12 months to 31 December 2007 by 30 June 2008

c) Interim results for 6 months to 30 June 2008 by 30 September 2008


EXPECTED ADMISSION DATE:
31 August 2007




NAME AND ADDRESS OF NOMINATED ADVISER:


Arbuthnot Securities Limited

Arbuthnot House

20 Ropemaker Street

London,

EC2Y 9AR


NAME AND ADDRESS OF BROKER:


Arbuthnot Securities Limited

Arbuthnot House

20 Ropemaker Street

London,

EC2Y 9AR


OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL
BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS
SECURITIES:


Arbuthnot Securities Limited

Arbuthnot House

20 Ropemaker Street

London,

EC2Y 9AR


DATE OF NOTIFICATION:


24 August 2007


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