Original Publication - www.londonstockexchange.com - 20th June 2011
The ReThink Group plc (AIM: RTG), one of the UK's leading recruitment and professional services companies, announces the acquisition of the entire issued share capital of Berkley Recruitment Group Limited ("Berkley"). The initial consideration is €2.65 million (equivalent to approximately £2.34 million) with additional deferred consideration of up to €4.125 million dependent on the aggregate EBITDA achieved by Berkley and its subsidiaries in the year ending 31 December 2011 ("the Acquisition").
In keeping with ReThink's philosophy of sharing equity with its business leaders, the senior management of Berkley will have an initial aggregate 7.85% interest in ReThink, following the payment of the initial consideration, which is expected to increase following the satisfaction of the deferred consideration.
In conjunction with the Acquisition, the Company has appointed Stephen Greenwood and Fergal Brosnan as executive directors of the Company with immediate effect. Click here to read the full RNS announcement.