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EMPRESARIA RAISES 2.8 MILLION TO FUND GROWTH BUSINESSES

EMPRESARIA RAISES 2.8 MILLION TO FUND GROWTH BUSINESSES

Empresaria Group plc, the AIM-quoted international staffing group, has conditionally raised 2.8 million through an oversubscribed placing of new shares at 28p per share to fund its growing international businesses and enable it to maintain the infrastructure and management resource required to take advantage of any market upturn. Tony Martin and Miles Hunt, Chairman and Chief Executive respectively, are participating in the placing with Tony Martin investing 1 million to acquire 3,571,429 new shares.

Empresaria Chief Executive Miles Hunt said: "The new funds raised will give us greater financial flexibility and better enable us to support some of our growing businesses in emerging markets as well as strengthen the Group in anticipation of the inevitable and eventual market upturn. Raising new funds at a share price materially higher than the one month and three month average closing prices reflects a high level of support from shareholders and investors and is an indication of their confidence in the future prospects of the Group."

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