REG - Empresaria Group PLC - Update following GM and end of offer period

EmpresariaAnnouncement

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RNS Number : 4667E  Empresaria Group PLC  23 October 2025

 

 

23 October 2025

 

Empresaria Group plc

 

Update following General Meeting and end of offer period

 

Empresaria Group plc (AIM: EMR), the international specialist staffing group,
("Empresaria" or the "Company" and, together with its subsidiary undertakings,
the "Group") provides the following update for shareholders following last
week's requisitioned general meeting (the "General Meeting") and the
subsequent changes to its board of directors (the "Board").

 

End of offer period

 

The Board notes Legacy UK Holdings Limited's ("Legacy") announcement on 22
October 2025 confirming that, in accordance with Rule 2.8 of the City Code on
Takeovers and Mergers (the "Takeover Code"), it does not intend to make an
offer for the Company (the "Legacy Rule 2.8 Announcement"). As a consequence,
Legacy is now subject to the restrictions under Rule 2.8 of the Takeover Code.
In addition, as a result of the Legacy Rule 2.8 Announcement, the Company is
no longer in an "offer period" as defined by the Takeover Code and the
disclosure requirements pursuant to Rule 8 of the Takeover Code are no longer
applicable.

 

Board focus

 

Over the coming weeks, the newly appointed Board, led by Joost Kreulen, will
conduct a thorough review of the Group's operations. The primary objective of
the Board is to:

 

 ·             address the commercial and other challenges that the Group faces and stabilise
               the Group's operations, both financially and operationally, by focusing on
               efficiency and cost discipline;
 ·             build on the Board's relationships with the Group's management teams and
               support them in delivering on the Group's commercial goals; and
 ·             ensure that the Group is well positioned to benefit once the broader staffing
               and recruitment markets begin to recover.

 

Empresaria has a strong foundation, a global footprint and a team of committed
professionals. The Board believes that the Group has significant untapped
potential and has the teams in place that can unlock this potential.

 

Management update

Joost Kreulen, who was appointed as Empresaria's Chair following the General
Meeting, will, for an interim period expected to be up to six months, dedicate
additional time to the role in order to support the objectives outlined
above.  Joost brings a wealth of industry knowledge with more than 30 years'
experience in the staffing and recruitment sector, including six years as
Chief Executive Officer of Empresaria from 2012 to 2018.  He has previously
held senior roles at Staff Planning Nederlands B.V., Select Appointments
Nederland B.V. and Vedior Groep Nederland Specialisten B.V.

Eckhard Koehn, who was appointed to the Board as a non-executive director at
the General Meeting, will additionally provide support to the Group's
operations in Germany.  Eckhard is an experienced German staffing
professional with significant experience in the German market having held
senior positions with DaimlerChrysler AG and Jobline.de GmbH & Co., as
well as serving as Chief Executive Officer of Newtron AG.

 

Joost Kreulen, Chair of Empresaria, commented:

 

"The Board as a whole would like to take this opportunity to thank
shareholders for their continued support. We remain focussed on our immediate
priorities for the future of Empresaria and are committed to working closely
with our management teams to build on the solid foundations already in place.

 

"We would like to acknowledge and thank Rhona Driggs for her contribution
during her tenure as CEO and to thank the outgoing Board members for their
service during what has been a challenging time for the Group.

 

"We are committed to leveraging Empresaria's strengths and strong market
position to return the Group to long-term, sustainable growth. We look forward
to updating shareholders on our progress in the months ahead."

 

Enquiries:

 

 Empresaria Group plc                                          via Alma PR
 Joost Kreulen, Chair

 Tim Anderson, Chief Financial Officer

 Allenby Capital Limited (Nominated Adviser and Joint Broker)  020 3328 5656
 Nick Naylor / Jeremy Porter / Vivek Bhardwaj

 Canaccord Genuity (Financial Adviser and Joint Broker)        020 7523 8300

 Chris Robinson / Ben Spencer / Bobbie Hilliam / Harry Rees

 Alma Strategic Communications (Financial PR)                  020 3405 0205
 Sam Modlin / Rebecca Sanders-Hewett / Will Merison
empresaria@almastrategic.com

 

Important notice

This announcement contains statements about the Company that are or may be
forward-looking statements. All statements other than statements of historical
facts included in this announcement may be forward-looking statements. Without
limitation, any statements preceded or followed by or that include the words
"targets", "goals", "should", "would", "could", "continue", "plans",
"believes", "expects", "aims", "intends", "will", "may", "anticipates",
"estimates", "hopes", "projects" or words or terms of similar substance or the
negative thereof, are forward-looking statements. Such forward-looking
statements involve risks and uncertainties that could significantly affect
expected results and are based on certain key assumptions. Many factors could
cause actual results to differ materially from those projected or implied in
any forward-looking statements. In light of these known and unknown risks,
uncertainties, contingencies, estimates and assumptions, the events in the
forward-looking statements may not occur or may cause actual results,
performance or achievements to differ materially from those expressed by or
implied from such forward-looking statements, whether as a result of new
information, future events or otherwise. Due to such uncertainties and risks,
readers are cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date hereof. The Company disclaims any
obligation to update any forward looking or other statements contained herein,
except as required by applicable law or regulation. Past performance of the
Company cannot be relied on as a guide to, or a guarantee or an indication of,
future performance. No statement in this announcement is intended to be, nor
should be construed as, a profit forecast.

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