LONDON (ShareCast) - (Sharecast News) - Planmatics said on Monday that it has received additional support for its proposed acquisition of the AIM-traded Empresaria Group, after the Hendriks Family signed a non-binding letter of intent confirming their intention to back the offer for the international staffing group.
The Hendriks Family controls 4,906,133 ordinary shares, equivalent to 9.84% of Empresaria's issued share capital.

Planmatics said their support took the total level of shareholder backing for its possible offer to around 70.14%, representing 34,966,310 shares as of 11 July.

The proposed deal, which remained subject to due diligence and funding confirmation, would see shareholders receive 10p per share in cash on completion, along with 50p in nominal unsecured loan notes.

It said the notes would be redeemable for cash three years after completion and would carry annual interest of 2.6%, payable at maturity.

Planmatics, an entity formed by a consortium including Peter Gregory, Nigel Marsh and Ashok Vithlani, was exploring whether to proceed by way of a court-sanctioned scheme of arrangement or a conventional takeover offer.

The full terms would be set out in a formal offer document if the transaction progressed.

Planmatics noted that the letter of intent from the Hendriks Family was non-binding, and confirmed only their current intention to support the deal.

Reporting by Josh White for Sharecast.com.

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