For Photo Gallery, please Click Here

17 Mar 2006

Empresaria Group plc - Acquisition of Empresaria GIT Holdings Limited

Empresaria Group plc (“Empresaria” or “the Group”) is pleased to announce that on 17th March 2006 it purchased 60% of the share capital of Empresaria GIT Holdings Limited (“GIT”) for an initial consideration of £90,000 (3.8 million Czech Crowns). In addition Empresaria has made available a loan of £60,000 (2.5 million Czech Crowns) to fund expansion of the business.

This transaction continues the expansion of Empresaria’s international operations and represents its first move into Eastern Europe. It also extends the Group’s representation into two new countries, the Czech Republic and Slovakia.

GIT has offices in Prague in the Czech Republic and Bratislava in Slovakia and supplies staff principally in the IT market. In the year ended 31 December 2005, GIT’s operations generated sales of £150,000.

Commenting on the acquisition, Miles Hunt, Chief Executive of Empresaria said:

“We are delighted to be able to announce this continuation of our international expansion programme and our first step into the rapidly developing Eastern European markets.”

For further enquiries please contact:

Empresaria Group Plc 01293 649 900
Tony Martin (Chairman)
Miles Hunt (Chief Executive)
Nick Hall-Palmer (Finance Director)

Bridgewell Securities Limited
James Wellesley Wesley 020 7003 3000