RCA’s original plan - to rerecord the hits - ended up in the November 1972 release of Second Take. The lp was issued in November 1972 on RCA Victor SF 8298, orange label. The only other countries that released the lp were Germany, record number RCA Victor International PJL I-8009 and South Africa, RCA Teal 38456.
 

Mike Pender sings lead on the following tracks - assisted by Frank & John: Sugar & Spice, Don’t Throw..., Come On Back To Me, When You Walk…, Needles & Pins, Desdemona, Goodbye My Love, Sweets For My Sweet, Take Me For What I’m Worth.
Mike & Frank both sing lead on: Farmer John, Love Potion No. 9, and What Have They Done To The Rain.
Once again the Searchers produced the songs - except Desdemona which was produced by Richard Swainson already in 1971 (see my page about the single).

According to http://alansalbumarchives.blogspot.com Desdemona is not the version released in 1971 as a single but also a rerecording. I'm not sure about it, die recordings of the hits are in poor sound quality except Desdemona and Come On Back To Me.

Below: German LP

 from Record Colllector

It was really a surprise in 1974 to see that Second Take LP again, now titled Needles And Pins.

The exact release date was July 6th 1974, record number RCA International INTS 1480A

From booklet The Complete RCA/UK Recordings: „(...) the release of SECOND TAKE coincided with a Pye Records anthology, A GOLDEN HOUR OF THE SEARCHERS. The Pye album not only contained the original versions, but boasted more playing time for less money. On checking the contracts, Pye also realized that the Searchers could not re-record the old hits for another company. Lawyers exchanged letters and writs flew. John McNally felt that they could have won the right to market the re-recordings on the grounds of restraint of trade, but RCA eventually settled and paid Pye an override.
SECOND TAKE was withdrawn then reissued in 1974 on RCA Engalnd’s budget label as NEEDLES AND PINS. (…)” by Colin Escott
 

The Complete RCA/UK Recording. Label is Taragon TARCD 1055.

This cd has two advantages: not only five never heard before tracks but a much better sound quality. The singles were alright before, but the Second Take lp has a rather thin and muddy sound. The cd offers the best possible quality.
But best of all are of course the bonus tracks - a delight for all Searchers fan.

 There are worse things a once-great band can do than break up. They can *not* break up and then try to regain lost fame by re-creating their finest moments using all the benefits of modern pop technology such as this set By 1971, Merseybeat monsters The Searchers were reduced to just a couple of founding members and a spot recycling their old hits on the cabaret circuit. "Don't Throw Your Love Away," "Needles And Pins," "Sugar And Spice" and "When You Walk In The Room" - they were great records, a great sound, great memories. (…)
Those lost RCA recordings, however, have their own tale to tell. This 25-track collection not only reprises "Second Take" for the first time since a blink-and-you'll-miss-it British budget reissue in 1974, it also serves up eight 45-only cuts from 1972/73 and five more unreleased nuggets from the very end of the band's RCA career. It's slick. But it's also staggering. Tight harmonies, taut playing, breathtakingly complex arrangements, The Searchers of the early 1970s were a majestic proposition that needed nothing more than a sympathetic songwriter to raise them to quite dizzying heights. Listen to the slightly later likes of Paper Lace, Pilot and most of all, Smokie, and you'll know precisely what The Searchers were seeking. Listen to The Searchers' own retakes of "When You Walk In The Room" and "Needles And Pins" and agree that such jewels simply did not deserve to be lost like they were.