Headhunter Hexagon Human Capital says it is in “very preliminary” discussions with an unnamed potential bidder.

Headhunter Hexagon Human Capital says it is in ‘very preliminary’ discussions with an unnamed potential bidder.

The City of London-based executive search specialist, which recently completed the acquisition of Atlanta-based Winchester Group for up to £4.2 million, warns there is no guarantee that the present talks will lead to a firm bid.

AIM-quoted Hexagon, meanwhile, plans to ask shareholders to sanction the issue of £1.5 million of convertible loan notes to cut its senior debt with Barclays Bank by the same amount and to raise £300,000 in shares within 60 days of the loan note issue as a condition of revised banking facilities proposed by Barclays.

Hexagon, which also claims to be Britain’s leading provider of senior interim managers, increased pre-tax profits 60 per cent to £1.6 million in the six months to September on turnover up 81 per cent to £20 million.