Multi Group plc - Result of EGM

Multi Group plc, the specialist recruitment group, is pleased to announce that at the extraordinary general meeting of the Company held earlier today, all of the resolutions proposed in connection with the acquisition of Global Medics Limited (ìGlobal Medicsî) were passed. The acquisition is the fourth Multi has made since March 2005.

Global Medics Limited was founded in 2002 and focuses on placing consultants and senior doctors on contracts with the NHS and private hospitals. The company operates out of offices in London and Yorkshire and also has an administration and accreditation office in South Africa. Turnover for the year to 31 May 2005 was 9.3m (2004: 8.3m) and profit before taxation was 1.3m (2004: 1.1m). In November 2005, Global Medics acquired the business and assets of Doctors on Call, a smaller business operating in the same sector.

The initial consideration for Global Medics is 8.6m, comprised of 3m in ordinary shares, 2.6m in preference shares, 1m in loan notes and 2m in cash. In addition Multi will pay up to 5.1m of further consideration, in loan notes and preference shares, conditional upon the achievement of certain performance targets by Global Medics to 31 May 2007.

The cash element of the initial consideration has been funded from Multiís existing resources and from group banking facilities which are to be established and drawn down following Admission. The 160,000,000 ordinary shares forming part of the initial consideration will be admitted to trading on AIM tomorrow. No application will be made for the preference shares to be admitted to trading.

Justyn Randall, Global Medicís founder, has joined Multiís main board with responsibility for the day to day operations of the Groupís medical businesses. Justyn is a widely respected figure in the staffing industry and brings with him over 10 yearsí direct recruitment experience.

Commenting on the acquisition Oliver Cooke, Multiís Chairman, said

ìThe acquisition of Global Medics marks the successful completion of a key stage in Multiís development and we are delighted both to be welcoming the Global Medics business into the group and also Justyn Randall, Global Medicsí founder, onto Multiís board.î