Data processing company Reflex Group has issued a circular to its shareholders seeking approval of the proposed acquisition of Fitness & Leisure Group for £6.6 million sterling, the disposal of First Rental to a management buyout team for £3 million sterling and a proposed migration to the Alternative Investment Market from the Irish Stock Exchange.

The company will also seek approval for the addition of a number of new directors. If approved, Mr Paul May, currently chief executive of Fitness & Leisure Group, will become chief executive and a director of Reflex, while Mr Philip Daw, currently non-executive director of Fitness & Leisure Group, will become a non-executive director of Reflex. Mr Luke Johnson will also become a non-executive director of Reflex. The issues will be voted on at an annual general meeting which will be held in Jurys Hotel in Ballsbridge in Dublin at 10 a.m. on September 7th.