First day of dealings on AIM

Work Group plc (ìWork Groupî or ìthe Companyî), a UK recruitment services provider, is pleased to announce the commencement of trading in its ordinary shares on AIM. The Companyís ticker is ìWORKî.

The Companyís ordinary shares have been admitted to AIM following a placing of 8,695,652 new Ordinary Shares at a price of 80.5p per share (the ìPlacing Priceî) which has raised approximately 7.0 million (before expenses) for the Company.

In addition, certain existing shareholders (including the executive directors) have sold, in aggregate, 4,968,944 Ordinary Shares in the Placing at the Placing Price.

The Company has 23,742,207 Ordinary Shares in issue and a market capitalisation, at the Placing Price, of approximately 19.1 million.

Simon Howard, the Executive Chairman of Work Group, said:

ìThe successful IPO of Work Group is a significant step forward for the Company and provides us with increased scope to make further acquisitions and to add to the considerable growth we have experienced since we launched in 2000.

The recruitment market is undergoing a fundamental change and we believe that Work Group is well positioned to benefit from a growing demand for direct resourcing, and to continue to help its clients to recruit and retain staff more effectively. We look forward to a long and mutually beneficial relationship with our new shareholders.î

Altium is acting as Nominated Adviser and Broker to the Company.