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The Rethink Group plc Further re. Acquisition of Berkley Recruitment (Group) Limited

The Rethink Group plc Further re. Acquisition of Berkley Recruitment (Group) Limited

Further to the announcement made on 20 June 2011 regarding the acquisition of the entire issued share capital of Berkley Recruitment Group Limited ("Berkley") the Company can now update shareholders as to the additional consideration that is payable.
The EBITDA of Berkley for the year ended 31 December 2011 was &euro821,771 and the total additional consideration that is payable is &euro1,245,170 to be satisfied as follows:
&euro392,653 in cash
&euro378,907 through the issue of 3,650,359 new Ordinary Shares in Rethink&euro478,610 nominal of 3.6 per cent. 2013 redeemable Preference Shares ("Preference Shares")Up to &euro133,478 of the Preference Shares will only become payable in the event that certain debtors amounting to &euro51,735 that were outstanding as at 31 March 2012 are received on or before 30 June 2012 or that those debtors, in the Board's opinion, are likely to be received.In addition, in the event that certainfees, which are not included in the results for the year ended 31 December 2011, amounting to up to &euro87,500 are received prior to 31 August 2012 further consideration based on the EBITDA derived from those fees would become payable. The formulas used to calculate any additional consideration will be those used to derive the additional consideration payable above.

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