23 October 2025

Empresaria Group plc

Update following General Meeting and end of offer period

Empresaria Group plc (AIM: EMR), the international specialist staffing group, ("Empresaria" or the "Company" and, together with its subsidiary undertakings, the "Group") provides the following update for shareholders following last week's requisitioned general meeting (the "General Meeting") and the subsequent changes to its board of directors (the "Board").

End of offer period

The Board notes Legacy UK Holdings Limited's ("Legacy") announcement on 22 October 2025 confirming that, in accordance with Rule 2.8 of the City Code on Takeovers and Mergers (the "Takeover Code"), it does not intend to make an offer for the Company (the "Legacy Rule 2.8 Announcement"). As a consequence, Legacy is now subject to the restrictions under Rule 2.8 of the Takeover Code. In addition, as a result of the Legacy Rule 2.8 Announcement, the Company is no longer in an "offer period" as defined by the Takeover Code and the disclosure requirements pursuant to Rule 8 of the Takeover Code are no longer applicable.

Board focus

Over the coming weeks, the newly appointed Board, led by Joost Kreulen, will conduct a thorough review of the Group's operations. The primary objective of the Board is to:

Empresaria has a strong foundation, a global footprint and a team of committed professionals. The Board believes that the Group has significant untapped potential and has the teams in place that can unlock this potential.

Management update

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Joost Kreulen, who was appointed as Empresaria's Chair following the General Meeting, will, for an interim period expected to be up to six months, dedicate additional time to the role in order to support the objectives outlined above.  Joost brings a wealth of industry knowledge with more than 30 years' experience in the staffing and recruitment sector, including six years as Chief Executive Officer of Empresaria from 2012 to 2018.  He has previously held senior roles at Staff Planning Nederlands B.V., Select Appointments Nederland B.V. and Vedior Groep Nederland Specialisten B.V. 

Eckhard Koehn, who was appointed to the Board as a non-executive director at the General Meeting, will additionally provide support to the Group's operations in Germany.  Eckhard is an experienced German staffing professional with significant experience in the German market having held senior positions with DaimlerChrysler AG and Jobline.de GmbH & Co., as well as serving as Chief Executive Officer of Newtron AG.

Joost Kreulen, Chair of Empresaria, commented:

"The Board as a whole would like to take this opportunity to thank shareholders for their continued support. We remain focussed on our immediate priorities for the future of Empresaria and are committed to working closely with our management teams to build on the solid foundations already in place.

"We would like to acknowledge and thank Rhona Driggs for her contribution during her tenure as CEO and to thank the outgoing Board members for their service during what has been a challenging time for the Group.

"We are committed to leveraging Empresaria's strengths and strong market position to return the Group to long-term, sustainable growth. We look forward to updating shareholders on our progress in the months ahead."

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Important notice

This announcement contains statements about the Company that are or may be forward-looking statements. All statements other than statements of historical facts included in this announcement may be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets", "goals", "should", "would", "could", "continue", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "estimates", "hopes", "projects" or words or terms of similar substance or the negative thereof, are forward-looking statements. Such forward-looking statements involve risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. In light of these known and unknown risks, uncertainties, contingencies, estimates and assumptions, the events in the forward-looking statements may not occur or may cause actual results, performance or achievements to differ materially from those expressed by or implied from such forward-looking statements, whether as a result of new information, future events or otherwise. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. The Company disclaims any obligation to update any forward looking or other statements contained herein, except as required by applicable law or regulation. Past performance of the Company cannot be relied on as a guide to, or a guarantee or an indication of, future performance. No statement in this announcement is intended to be, nor should be construed as, a profit forecast.