GSD Goldshield Grp

RNS Number:1507D
Goldshield Group PLC
03 September 2007



              Goldshield Group plc ("Goldshield" or the "Company")

   Update to the disposal of the entire issued capital of Goldshield Business
    Solutions Private Limited (GBSPL) and Call Centre Facility Agreements in
                       relation to call centres in India

Goldshield Group Plc ("Goldshield" or the "Company"), announces that following
the approval by its shareholders at an Extraordinary General Meeting on 10
August 2007 to the proposed disposal of the entire issued share capital of
GBSPL, to Ajit Patel ("the buyer"), the buyer has decided not to proceed with
the purchase of the entire issued share capital of GBSPL. The buyer's obligation
to complete the purchase of GBSPL upon the agreed terms, was conditional upon
amongst other things, the consent of the major customers of GBSPL to his
purchase of the Company. Unfortunately, two of the major customers have refused
to consent with the result that the buyer has exercised his right not to
complete the purchase of GBSPL and accordingly the Sale and Purchase Agreement
is now regarded by the Company as null and void.

GBSPL's primary business is the provision of call centre services to
non-Goldshield group companies. The Company will retain and continue to operate
these businesses for the foreseeable future. The Directors will continue to
examine all strategic options for this non-core business.

The effect of the business of GBSPL continuing within the group will not be
material to the group's financial position and the Company continues to focus on
its core strategy to develop its pharmaceutical and healthcare businesses
following the recent reorganisation of the business.

                                     -ends-

Date: 3rd September 2007

Enquiries:

Goldshield Group plc            
Rakesh Patel, Chief Executive
Tel: 020 8649 8500

City Profile 
Jonathan Gillen
William Attwell
Tel: 020 7448 3244

Panmure Gordon 
Edward Farmer
Jonathan Lack
Tel: 020 7459 3600



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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