Norman Broadbent invests £700k in Arcus and Connecting Corporates
29 October 2013
Norman Broadbent is investing £700k raised from the issue of new shares in two group businesses, Arcus Global Partners and Connecting Corporates, both of which launched at the beginning of 2013.
Tue, 29 Oct 2013Norman Broadbent is investing £700k raised from the issue of new shares in two group businesses, Arcus Global Partners and Connecting Corporates, both of which launched at the beginning of 2013.
Connecting Corporates consists of two divisions – social media sourcing service Social Media Search, and what a company spokesperson describes as “a LinkedIn-based business development firm”, Winning Work. Arcus’ website says it is “a recruitment business committed to bringing technical commercial innovation to a stagnant industry”.
Norman Broadbent last Friday confirmed that it had issued 1.75m new ordinary shares at the price of 40p per share, bringing the total number of shares in the firm to just under £14.8m.
The resulting cash coming into the group will see Arcus and Connecting Corporates grow “quicker than originally planned”, according to a statement.
Pierce Casey, chair of Norman Broadbent, says the firm’s directors “have been encouraged by how receptive the market has been to the flexible recruitment solutions offered by these new business ventures”, and will use the investment to achieve “greater scale and profitability more quickly”. The company was not immediately available to further comment on what these plans meant.
Last month, the company announced it had made a loss after tax of £258k in the first six months of 2013.
Connecting Corporates consists of two divisions – social media sourcing service Social Media Search, and what a company spokesperson describes as “a LinkedIn-based business development firm”, Winning Work. Arcus’ website says it is “a recruitment business committed to bringing technical commercial innovation to a stagnant industry”.
Norman Broadbent last Friday confirmed that it had issued 1.75m new ordinary shares at the price of 40p per share, bringing the total number of shares in the firm to just under £14.8m.
The resulting cash coming into the group will see Arcus and Connecting Corporates grow “quicker than originally planned”, according to a statement.
Pierce Casey, chair of Norman Broadbent, says the firm’s directors “have been encouraged by how receptive the market has been to the flexible recruitment solutions offered by these new business ventures”, and will use the investment to achieve “greater scale and profitability more quickly”. The company was not immediately available to further comment on what these plans meant.
Last month, the company announced it had made a loss after tax of £258k in the first six months of 2013.
