22nd Oct 2009 16:15
Savile Group plc ("Savile" or the "Company")
Market Purchase of the Company's own shares and heads of terms regarding option to acquire business focused on the public sector
Market Purchase of the Companies own shares
Notification is given that pursuant to the authority granted at the General Meeting of the Company held on 19th May 2008 to make market purchases of the Company's own shares, market purchases totalling 319,480 ordinary shares of 3p each in the capital of the Company were made on 22 October 2009 at a price of 76.5 pence per share.
These shares will be held as treasury shares.
Following the above, the Company holds 1,308,647 ordinary shares of 3p in treasury. The number of ordinary shares of 3p in issue (excluding treasury shares) following the above, and the figure to be used as the denominator for calculations of interests in the Company's voting rights, is 13,341,499 ordinary shares of 3p.
Potential acquisition
The Company is also pleased to announce that it has signed heads of terms with regard to a potential acquisition of a business focused on the public sector. Assuming that Savile proceeds, this is likely to be structured by way of an initial loan with an option to acquire a majority stake. The target company is likely to make a loss in the year ended 31 December 2009 on revenues in excess of £2 million.
Further announcements will be made in due course as appropriate.
For further information, please contact:
Savile Group plc 020 7204 6990
Jonathan Cohen, Chairman
Mark Sidlin, CFO
FinnCap 020 7600 1658
Geoff Nash
Ed Frisby
Cardew Group 020 7930 0777
Richard SpiegelbergJames Milton
Notes to Editors
Savile Group has three centres of excellence: CEDAR Talent Management, Fairplace and IDDAS providing coaching, mentoring, career transition and talent management to leading companies, professional services firms and the public sector.
CEDAR Talent Management offers extensive expertise in coaching, leadership assessment and development.
Fairplace has an enviable reputation for high quality career transition and career management.
IDDAS provides a range of board level career and business mentoring, coaching and boardroom services, including leadership development.
Further information on the Company can be found on its website, at www.savile.com
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