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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.

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