4 April 2008
Network Group Holdings plc
("Network Group" or the "Company")
(AIM: NGH.L)
Network Group, one of the UK's largest groups operating in the specialist
recruitment and business outsourcing markets, is pleased to announce that its
shares have been admitted to trading on AIM today.
The admission follows the reverse takeover of Pertemps People Development Group
Limited ("PPDG"), as announced on 20 March 2008 and following the approval of
the shareholders of Network Group at its General Meeting held on 3 April 2008.
Daniel Stewart & Company plc is acting as nominated adviser and broker to the
Company.
Acquisition and admission statistics
Number of ordinary shares in issue prior to the Acquisition 57,898,675
Considerations shares payable to vendors of PPDG (allotted at 46,428,586
35p per share)
Percentage of enlarged issued ordinary shares represented by the 44.5%
consideration shares
Number of ordinary shares in issue on admission 104,327,261
Estimated market capitalisation on admission at 35p per share £36.5m
Board appointment
The board is pleased to announce the appointment of Colin Birchall (aged 54) as
an executive director of Network Group.
Colin has over 25 years' experience at senior management and executive level in
private, public and charitable sector organisations responsible for delivering
Government funded initiatives in education, training, and community
regeneration. He joined Pertemps Group in November 1997 and secured its first
ever contract for helping long term unemployed people back to work in 1998. He
launched Pertemps Employment Alliance in January 2000. In 2004, following the
de-merger of Pertemps Group, he was appointed chief executive of Pertemps
People Development Group a newly formed group delivering welfare to work,
training and disability consultancy initiatives. He is a fellow of the Royal
Society of Arts, Member of the Institute of Directors and a Trustee of the
Building Blocks Charity.
The following information in respect of Mr Birchall is disclosed pursuant to
Rule 17, Schedule 2 (g) of the AIM Rules for Companies:
Current Appointments
Pertemps People Development Limited
Pertemps People Development Group Limited
Pertemps Learning and Education Alliance Limited
Pertemps Disability Consultancy Limited
Pertemps Coachright Limited
Pertemps Employment Alliance Limited
PAG Skills & Learning Limited
Pertemps Training Limited
Previous Appointment
Cricket Without Boundaries
Pertemps Sports Coaching Limited
There is nothing further to disclose pursuant to AIM Rule 17, Schedule 2g.
Directors/PDMR Shareholdings
Name No of ordinary shares Percentage of ordinary
following admission shares following
admission
Michael Owen 9,737,889 9.2***
Paul Doona 2,298,987 2.2
John Smith 6,929,377 6.6*
Jonathon Smith 4,968,492 4.7**
Christopher Ross Nil Nil
Barrie Clark Nil Nil
Colin Birchall 76,924 0.07
* This includes 19,039 Ordinary Shares held by his partner.
** This includes 5,424 Ordinary Shares held by his partner.
*** The Ordinary Shares to be held on Admission include 2,990,921 Ordinary
Shares which will be held by his partner.
Significant shareholders
Name No of ordinary shares Percentage of ordinary
following admission shares following
admission
Timothy Watts 31,431,009 29.8*
Michael Owen 9,737,889 9.2***
Roger Englefield 9,661,542 9.1
Jennifer Jackson 6,670,621 6.3
John Smith 6,929,377 6.6
Jonathon Smith 4,968,492 4.7
Estate of Constance Watts 5,038,334 4.8
Pertemps Investments Ltd 5,412,270 5.1**
G Duffield 6,918,368 6.6
* T Watts owns 69.84 per cent. of the issued share capital of Pertemps
Investments Limited and is therefore beneficially interested in 35,211,101
ordinary shares representing 33.75 per cent. of the enlarged issued share
capital
** The shareholders of Pertemps Investments Limited are T Watts (69.8 per
cent.), M Owen (5.9 per cent.), R Englefield (5.9 per cent.), J Jackson (5.9
per cent.), G Duffield (7.0 per cent.), and Estate of Constance Watts (5.5 per
cent.).
*** The ordinary shares held include 2,990,921 ordinary shares held by his
partner.
For Further Information:
Network Group Holdings Plc 01676 525 300
www.networkgroupholdings.co.uk.
Jonathon Smith, Chief Executive jon.smith@networkgroupholdings.co.uk
Paul Doona, Finance Director paul.doona@networkgroupholdings.co.uk
Colin Birchall colin.birchall@ppdg.co.uk
Daniel Stewart & Co Plc 020 7776 6550
Graham Webster
Oliver Rigby
END
© 2008 PR Newswire
