Business
Analysts' Briefing
Analysts' Briefing.
About this update from Mears Group Plc
[{"type":"text","content":"\n Mears Group PLC\n12 December 2007\n\n\nMears Group PLC ('Mears' or 'the Company')\n\n12 December 2007\n\n\nAnalysts' Briefing\n\n\nThe Company will be holding a briefing for sector analysts at 10.30am this\nmorning at the offices of Investec, 2 Gresham Street, London EC2V 7QP. At the\nbriefing, Bob Holt, David Robertson and Andrew Smith will report that\ntrading for the year ending 31 December 2007 is in line with management's\nexpectations and give a presentation on the Company's activities.\n\n\nThey will make reference to two recent additions to the Company's Care Division,\nnamely the acquisitions of Complete Care and Pooks Care Ltd. The Complete Care\nbusiness operates from offices in the Wirral servicing contracts with Wirral\nBorough Council and Cheshire County Council as well as private clients. Pooks\nCare Ltd operates from 7 offices in the Midlands and Home Counties providing\ncare services to 13 Local Authorities, 12 of which are new to Careforce. These 2\nacquisitions were acquired from private individuals for a total consideration up\nto a maximum of £5.9 million in cash payable from existing resources. This\ncomprises initial payments of £4.2 million followed by deferred payments of up\nto £1.7 million conditional upon the achievement of agreed performance targets\nover the 18 months following completion. The addition of these 8 branches has\nincreased the volume of hours delivered per week by 10,500 and introduced an\nadditional 410 carers to the Group.\n\n\nThe Company is pleased to announce that it intends to appoint Peter Dicks (65)\nto the Board as Deputy Chairman. Peter has been active in the venture capital\nand investments fields for a number of years. He is currently a director of\nseveral quoted and unquoted companies including Private Equity Investor PLC of\nwhich he is Chairman, Polar Capital Technology Trust PLC, Graphite Enterprise\nTrust PLC and Standard Microsystems Inc., a US NASDAQ quoted company. Peter is\nbeneficially interested in 23,298 ordinary shares in Mears Group PLC. A further\nannouncement relating to Peter's appointment will be made in due course.\n\n\nThe Company is also pleased to announce that it intends to appoint David Hosein\n(43) as a non-executive Director. David is a partner in OC&C Strategy\nConsultants where he is head of their Services & Technology Practice. He...