PHSC plc
30 November 2007
("PHSC" or the "Company")
Completion of Acquisition of
In House The Hygiene Management Company Limited
Further to the announcement made by PHSC on 5 September 2007 the directors are pleased to announce
successful completion of the acquisition of the entire issued share capital of In House The
Hygiene Management Company Limited (IH).
The purchase price is £300,000 plus the opportunity of a bonus payment subject to the level of
future profits. In addition, assets will be acquired at fair valuation.
The acquisition will be funded entirely from existing cash reserves, as follows:
* £200,000 on completion;
* £50,000 on the first anniversary of completion; and
* £50,000 on the second anniversary of completion.
Both anniversary payments are subject to an uplift equal to 50% of any pre-tax profit above
£100,000 in the preceding year.
IH is a well-respected and established food safety and hygiene consultancy, with many hospitals,
schools and hotels amongst its client base. The company also offers general health and safety
consultancy and training. Turnover in the six months to 30 June 2007 was £196,000, generating pre-
tax profits of £56,000 (unaudited).
IH will be managed from the Midlands offices of another PHSC subsidiary, RSA Environmental Health.
Further information and a comprehensive client list can be found at
www.inhouse-hygiene.co.uk
For further information, please contact:
PHSC plc
Stephen King 01622 717700
Stephen.king@phsc.co.uk
www.phsc.plc.uk
Ruegg & Co Limited
Gavin Burnell 020 7584 3663
gburnell@ruegg.co.uk
Hichens, Harrison & Co plc
Daniel Briggs 020 7382 7776
PHSC plc