Recruitment specialists CPL Resources is actively seeking technological acquisitions both internationally and in Ireland, its chief executive Ms Anne Heraty has said.

At the company's first annual meeting in Dublin yesterday, Ms Heraty said it was CPL's stated intention to grow organically and through acquisitions.

It would pursue a "selectively aggressive" policy in the coming months, she added.

Shareholders at the a.g.m. unanimously passed a resolution enabling the company to sell a shareholding of up to 5 per cent without having to consult them.

The ability to issue a small number of shares will give the company greater flexibility and the opportunity to make a quick purchase if required, according to the company chairman, Mr John Hennessey.

Commenting on the relatively poor performance of CPL shares since flotation, Mr Hennessey said there had been very little trading in the shares because most of the shareholders in the company were interested in its potential and were not about to sell.

The placing price of CPL shares was €0.77 (61p). Yesterday it stood at €0.72.

Ms Heraty said the key reason the company had gone to the market in June was to increase growth.

The introduction of CPL Telecoms in July, the opening of a Belfast office in September, combined with the doubling of staff at its Limerick office, was evidence of this.

The company has hired 15 additional recruiters since June.

Ms Heraty and her husband, Mr Paul Carroll, were unanimously re-elected to the board by shareholders at the meeting. Together they own more than 80 per cent of the company.

CPL recently reported strong growth in the year to June, with pre-tax profits up 173 per cent to €3.1 million.