LONDON (3 May 2006) — McDermott Will & Emery UK LLP has advised Streetnames plc on their reverse acquisition of Networkers International plc for an aggregate consideration of £22 million which will be satisfied by the issue of 84.6 million shares at 26p per share. The acquisition is conditional upon shareholder approval at an Extraordinary General Meeting to be held on 22 May 2006.
Upon admission to AIM the company will be re-named Networkers International plc and have a market capitalisation of approximately £24 million. Networkers International plc will continue to specialise in the international technology recruitment sector, where they have an exciting client base which includes Siemens, Ericsson and Vodafone.
The McDermott team included corporate associates, Brigid Breslin, Charlotte Azurdia and Victoria MacLeod.