Hydrogen Group to acquire Argyll Scott (Holdings) Ltd for £3.3m

Global specialist recruiter Hydrogen Group has conditionally agreed to acquire the entire issued share capital of Argyll Scott (Holdings) Ltd for £3.3m.

It would issue 9.03m consideration shares, or about 27.4% of its enlarged share capital.

Hydrogen would subsequently acquire the minority interests in separate tranches up to April 2021 to be satisfied by payment in cash and/or through the issue of new shares.

The Argyll Scott Group was founded in 2009 and recruits for contract, interim and permanent middle management positions across key business functions including accounting & finance, business transformation, marketing, sales and technology across APAC and EMEA.

At 10:26 BST, shares in AIM-listed Hydrogen Group were flat at 36.25p each.