About Gilmac

Unit 21, Cranford Way, Crouch End

Gilmac Building Services Ltd

Founded in 1990, Gilmac Building Services is a multi-disciplined construction company, focusing on specialist contracts, fast-track fit outs, new build and retail refurbishment. Its impressive client base includes, amongst many others, Compaq, Norton Healthcare Plc, Liberty Plc, Zandra Rhodes, London City Airport, London Underground Ltd and the London Borough of Islington.
Infomation source http://www.thelocalweb.net

RNS Number:3890V Multi Group PLC 1 May 2002

Multi Group PLC (the "Company") - Acquisition of small tools division.

Multi Group PLC is pleased to announce that Multi Equipment Rental Plc ("MER"),
a wholly owned subsidiary of the Company, yesterday completed the acquisition of
the small tools division of Gilmac Building Services Limited ("Gilmac"), which
trades from a central location in London's Kings Cross.

In addition to the site acquisition, MER have also taken over all existing live
hire contracts currently on hire to Gilmac's in house building company. Gilmac
have, as a consequence, also entered into a two-year sole supplier arrangement
with MER whereby Gilmac will source all its small tools hire from MER. MER will
also provide hires to third party customers.

This acquisition is MER's twelfth trading location which should benefit greatly
from the Channel Tunnel Rail Link and general redevelopment of the Kings Cross area. The impact of the acquisition on the Company's earnings is expected to be
positive within the current year.

Consideration

The total consideration payable will amount up to £200,000 and will be due as to
£100,000 in cash upon completion. The balance of the consideration will be
payable, based upon pre-determined levels of turnover of Gilmac with MER. This
deferred performance related consideration will be satisfied by the issue of
Multi Group Plc ordinary shares at the price prevailing at completion. The
deferred consideration will be payable up to £50,000 12 months following
completion and up to £50,000 24 months following completion.

This information is provided by RNS
The company news service from the London Stock Exchange
Infomation source http://www.hemscott.com