Optimisa Gets Thumbs Up for EQ Buy

At an extraordinary general meeting earlier today, shareholders of UK holding firm Optimisa have passed all resolutions relating to the acquisition of EQ Group, including the placing of 600,000 new shares at £13 per share.

Optimisa first proposed the £0.72 per share cash deal last month (www.mrweb.com/drno/news7320.htm ), valuing EQ at around £6.4 million. Shareholders have now agreed that the company will acquire 1.485 million ordinary shares at £1.50 per issue and also approved the subdivision of the ordinary shares of £1.50 (in the issued and unissued share capital of the company) into ordinary shares of £0.25.

The firm has also received approval to increase its borrowing limit to £10 million from £5 million.

In August, Optimisa announced its interim results for the six month period ended 30 June 2007 with turnover up 68%, gross profit increased by 60% and pre-tax profit up from £415,000 to £780,000 (www.mrweb.com/drno/news7214.htm ).

EQ Group companies include Buckingham Research Associates, Quaestor Research & Marketing Strategists and Summit Studios. Optimisa said in a statement that it has no current intention to vary the existing employment rights, including pension rights, of EQ Group employees.

Web sites are at www.optimisaplc.com and website.eqinform.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.