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Healthcare Locums plc Announces Relocation of Loughton Office

Healthcare Locums plc Announces Relocation of Loughton Office

As announced in the Company's circular to shareholders dated 19 August 2011, an element of the proceeds of the re-financing completed in September 2011 was earmarked for rationalising the Company's UK property portfolio.

As part of this process, the Board has today announced the proposed closure of HCL's office in Loughton, Essex, and has entered into a 30 day consultation period with all affected staff. If implemented, all Loughton activities will relocate to HCL's main office in central London.

The Board believes that the proposed relocation will generate long term operational benefits and reduce ongoing facility and property costs. Additionally, the Board believes it will allow investment in new technology and create management efficiencies through staff being housed in a single location.

It is not the intention of the Company to reduce staff numbers through the relocation of the Loughton office. All HCL employees based in the Loughton office will be encouraged to relocate to the central London Office.

While longer term benefits have been identified, the accounts for 2011 will include a provision for surplus property costs, removal costs and other related costs estimated to be in the region of &pound1.5 million.

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