Disposal

RNS Number : 7295Z

CPL Resources PLC

11 March 2013

 



11 March 2013

CPL Resources plc

Cpl Resources plc ("CPL") announces that it has disposed of the Swedish  business European Human Resources AB, ("ERHAB").    Following the completion of the 2012 acquisition of ERHAB by CPL, a difference of opinion emerged regarding the ongoing management of ERHAB and the parties agreed to reverse the 2012 transaction, with ownership of ERHAB transferring back to the original vendors. As the bulk of the consideration for the 2012 transaction was to be payable through an earn-out, there is no material financial impact on the CPL Group.

Cpl Resources plc                                                                  [phone]

Anne Heraty, CEO                                                              

Josephine Tierney, Finance Director                               

Davy Corporate Finance (NOMAD)                                [phone]

Ivan Murphy                                                       

Daragh O'Reilly

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