Disposal

Hays PLC 25 March 2002 25 March 2002 DISPOSAL OF CLINICAL SUPPORT SERVICES Hays plc today announces the conditional disposal of its non-core Clinical Support Services activities to Synergy Healthcare plc for a cash consideration of up to £11.5 million. Hays Clinical Support Services is an operating division of Hays Commercial Services Limited providing instrument decontamination and sterilisation services to the National Health Service and to private hospitals. Final completion of the disposal is conditional upon the admission of new shares being placed by Synergy Healthcare plc for trading on AIM. Irrevocable acceptances representing 53% of the existing issued ordinary shares of Synergy Healthcare plc have been obtained. £1.5 million of the consideration due at Completion will be held in an escrow account with a view to being released following the outcome of identified future customer and business developments. The transaction will result in a small gain on disposal. In the financial year ended 30 June 2001 Hays Clinical Support Services had an operating profit of £0.6 million on sales of £11.3 million. Commenting on the transaction, Bob Lawson, Chairman of Hays plc said: 'The sale of this non-core business will continue our focus on core activities. We wish the staff of Hays Clinical every success in the future as a part of Synergy Healthcare.' - Ends - For further information, please contact: Jon Coles Brunswick 020 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange

Companies

Hays (HAS)
UK 100

Latest directors dealings