The Group is intending to acquire 100% of the share capital of PPC, a US-based environmental management and information technology consultancy firm. The acquisition of PPC is contingent, among other things, upon shareholder approval and obtaining clearance from the relevant authorities.
As at 31 March 2008 the Group had incurred £1.1 million of costs in respect of this proposed transaction and the related fundraising exercise. These costs have been charged to administrative expenses within the Consolidated income statement but have been categorised as a significant one-off item.