CSE Cross Shr Reg S

RNS Number:6150A
AIM
20 July 2007




ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE 
                          WITH RULE 2 OF THE AIM RULES FOR
                               COMPANIES ("AIM RULES")

COMPANY NAME:


ReSearch Pharmaceutical Services Inc.

(formerly Cross Shore Acquisition Corporation)


COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
(INCLUDING POSTCODES): Registered Office : Corporation Trust Centre, 1209 Range
Street, Wilmington, DE 19801, USA


Principal place of business following readmission: 520 Virginia Drive, Fort
Washington, PA, 19034 U.S.


COUNTRY OF INCORPORATION:


USA


COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
www.rpsweb.com


COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY).  IF THE ADMISSION IS
SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:


Predominantly operating in the US and headquartered in Pennsylvania, RPS is a
provider of integrated clinical development outsourcing solutions to the bio-
pharmaceutical industry. RPS services are provided in connection with the
design, initiation and management of clinical trials programs, a critical
element in obtaining regulatory approval for bio-pharmaceutical products. RPS
introduced the Pharmaceutical Resource Organization ("PRO") model to address the
changing demands of the drug development industry, which continues to grow
rapidly but is facing increasing pressures to control costs and improve
effectiveness. The PRO model combines the capabilities of a specialty staffing
organization with the expertise of a clinical research organization ("CRO"),
enabling RPS to offer a model that is gaining traction in the market. The
success of its PRO model, which combines its newly introduced Clinical Master
Service Provider ("CMSP") program with more traditional CRO and specialty
staffing related services, has resulted in RPS' net revenues growing from $12.6
million in 2000 to approximately $84.4 million for 2006.





RPS provides a broad range of clinical development services to its clients to
support the design, initiation and management of clients' clinical trials
programs, each of which are critical aspects in the regulatory approval process
for bio-pharmaceutical products. The Directors and the Proposed Directors
believe that a key differentiator is RPS' ability to deliver these services in a
manner that is fully integrated with the client's infrastructure. The PRO model
contrasts with that of a traditional CRO, which focuses on performing individual
clinical trials on behalf of its client by mirroring the pharmaceutical
company's infrastructure with limited interface with the client until the final
deliverable is achieved. The Directors and the Proposed Directors believe that
RPS' PRO model more effectively utilizes the existing resources, processes and
systems of its clients, while enhancing real-time communication and coordination
with clients, avoiding duplicative infrastructure costs. In addition, the
Directors and the Proposed Directors believe that RPS' recruiting and staffing
capabilities combined with the clinical infrastructure represent a competitive
advantage in attracting and retaining the high quality personnel required to
successfully execute the PRO model and compete with CROs.





RPS attempts to develop strong strategic relationships with its clients at the
senior levels of an organization and then designs customized outsourcing
solutions that "carve-out" key functional areas of the client's clinical
development infrastructure to be outsourced to RPS. The PRO solution emphasizes
close integration with the client so that the client can selectively outsource
those areas in which the greatest savings can be realized while permitting the
client to maintain control of the key medical and regulatory decision-making
processes. The result is what is often called a "functional" or "cross-
functional" outsourcing model, which embeds RPS within the client's
infrastructure, creating a strategic and interdependent relationship.



RPS delivers its services through three service models:



Clinical Master Services Provider: This is a long-term strategic relationship
developed with senior management within a client's clinical, financial and
procurement departments that generally involves a partial or full "carve-out" of
functional areas of the client's development efforts.





Project Solutions: The deployment of the traditional CRO approach in which RPS
has full project-management responsibility for a discrete project of finite
length. Under this approach RPS is responsible for an entire trial or specific
aspects of a trial for a particular compound.





Other Solutions: Similar to staff augmentation services provided by specialized
staffing firms. RPS provides personnel on a consulting basis to its clients to
supplement their own staff.





RPS is being admitted by way of reverse takeover by Cross Shore Acquisition
Corporation (AIM: CSE).



DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER
OF THE SECURITIES (i.e. where known, number and type of shares, nominal value
and issue price to which it seeks admission and the number and type to be held
as treasury shares):


Up to 42,003,422 common shares of par value $0.0001 each ("Common Shares"); and



Up to 2,986,667 warrants to subscribe for Common Shares ("Warrants")



Shares and Warrants will trade as Restricted Reg S stock.


CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:


No capital to be raised on admission. Anticipated market capitalisation  - TBC


PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:


Approximately 36%


DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE
OR WILL BE ADMITTED OR TRADED:
None


FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or
including any other name by which each is known):
Daniel Max Perlman "Dan" (Chief Executive Officer and Chairman of the Board)

Edward Van-Ching Yang  "Ed" (Executive Director)

Harris Koffer (President, Chief Operating Officer and Executive Director)

Dennis Michael Smith (Executive Director)

Daniel Raynor "Dan" (Non-Executive Director)

Steven E. Stonefield (Non-Executive and Independent Director)

James Robert Macdonald (Non-Executive Director)




FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF
THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name
by which each is known or including any other name by which each is known):

Based on the Share register as at 2 July 2007, the Company is aware of the
following shareholders holding 3% or more of the Shares of the Company:


                           Number of Shares Held               Approximate Percentage of Issued
                                                               Shares
Name                        As at the date of   Immediately     As at the date of     Immediately
                                this document    following          this document      following
                                                Re-admission                       Re-admission (1)
CSA I, LLC                     1,805,387          644,781             7.7%               1.5%


CSA II, LLC                    1,041,583          322,390             4.5%               0.8%


CSA III, LLC                   1,330,710          475,254             5.7%               1.1%


Daniel Max Perlman "Dan"           -             2,551,613             -                 6.1%
Argentum Capital Partners          -             5,766,605             -                 13.7%
First Analysis Corporation         -             3,454,128             -                 8.2%
Cost Nominees Limited          1,548,333         1,548,333            6.6%               3.7%
Highline Capital                975,900           975,900             4.2%               2.3%
LBPB Nominees Limited          1,166,667         1,166,667            5.0%               2.5%
Lehman Brothers                1,070,334         1,070,334            4.6%               2.8%
International
Morstan Nominees Limited       2,373,334         2,373,334           10.2%               5.7%
NCB Trust Limited              1,570,124         1,570,124            6.7%               3.7%
Och-Ziff Capital               3,232,334         3,232,334           13.9%               9.0%
Management
Scopia Partners                 809,876           809,876             3.5%               1.9%
Third Point Partners           1,000,000         1,000,000           4..3%               2.4%

(1) These percentages are determined after giving effect to the repurchase of
3.0 million Founding Shares, the issuance of the Exchange Shares to the Selling
Securityholders as partial consideration for the Acquisition and the issuance of
the Sunrise Shares in connection with the Sunrise Option Tender and assume 100
per cent. of the Existing Warrants are exchanged for Shares pursuant to the
tender offer no exercise of Repurchase Rights and subsequent cancellation of
Shares by the Company.










NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
none


(i)                  ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)                DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED

(iii)               DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:


(i) 31 December

(ii) 31 December 2006

iii) Next three results to be published on:

a) Interim results for 6 months to 30 June 2007 by 30 September 2007

b) Annual results for 12 months to 31 December 2007 by 30 June 2008

c) Interim results for 6 months to 30 June 2008 by 30 September 2008


EXPECTED ADMISSION DATE:
7 August 2007




NAME AND ADDRESS OF NOMINATED ADVISER:


Arbuthnot Securities Limited
Arbuthnot House
20 Ropemaker Street
London,
EC2Y 9AR

NAME AND ADDRESS OF BROKER:

Arbuthnot Securities Limited
Arbuthnot House
20 Ropemaker Street
London,
EC2Y 9AR


OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:


Arbuthnot Securities Limited
Arbuthnot House
20 Ropemaker Street
London,
EC2Y 9AR


DATE OF NOTIFICATION:

20 July 2007


NEW/ UPDATE:


New





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