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UK – Acquisition of Networkers International by Matchtech approved

31 March 2015

The boards of recruitment firms Matchtech Group (MTEC: LN) and Networkers International (NWKI: LN) have announced that the Scheme of Arrangement under Part 26 of the Companies Act 2006, in order to effect the recommended acquisition of Networkers by Matchtech, has been sanctioned by the Court.

In order for the Scheme to become effective, in accordance with its terms, Court approval must be obtained for the Capital Reduction at the Reduction Court Hearing, which is scheduled to take place on 1 April 2015.

Additionally, the Court Orders made at the Scheme Court Hearing and the Reduction Court Hearing must be delivered to the Registrar of Companies.

Following an application by Networkers to the London Stock Exchange, trading in Networkers Shares on AIM will be suspended with effect from 7.30 a.m. (GMT) on 1 April 2015.

Upon the Scheme becoming effective, which is expected to be 1 April 2015, holders of Scheme Shares on the Networkers register of members at on 31 March 2015 will be entitled to receive £0.34 in cash and 0.06 new Matchtech Shares for each Scheme Share held.