Multi hopes to stay listed_2
10 September 2012
Major changes at health recruiter Multi Group will be announced in the next few days. The shares, listed on the Alternative Investment Market (AIM), have been suspended since 10 November.
Major changes at health recruiter Multi Group will be announced in the next few days. The shares, listed on the Alternative Investment Market (AIM), have been suspended since 10 November. According to AIM rules, a company is delisted after six months of suspension. Majority owner Bob Morton told Recruiter (21 March) of some of his plans for the group. He now says he is confident of meeting the six-month deadline to keep the shares listed. As well as a reverse acquisition, the company will announce that it has raised £2.5m cash and appointed a former Hays executive as chief executive, replacing Oliver Cooke. Morton's stake, held through Guernsey-based Southwind Limited, will reduce from 58%. He also owns more than 40% of Lorien, which has seen its shares double in the last few months to reach yet another 12-month high. This follows an unsuccessful mandatory offer by Southwind for Lorien at 40p a share; Morton has also become non-executive chairman of the company. Shares in other IT recruiters, such as FDM Group and Harvey Nash, are also faring well.
