Discussions are ongoing over the possibility of senior management of OPD Group firms PSD and Hoggett Bowers acquiring a significant holding in the businesses, according to an interim management statement from the multi-sector recruiter.

Following a statement made on 23 April, covering the period from 1 January 2010 to 18 May 2010, the group adds that a further announcement will be made at the appropriate time.

The statement adds that as announced on 30 April, OPD intends to put a resolution to shareholders to cancel the listing of its shares on the Official List and their admission to trading on the main market of the London Stock Exchange, while the board is working on these proposals. A further announcement will be made in due course.

OPD says it has managed to cut costs, while the group has traded profitably for the first four months of 2010.

However net fee for the OPD Group (PSD and Hoggett Bowers) for the first four months of 2010 was down 3% compared to the same period for 2009.