Staffline share placing to raise £41m to reduce debt

Troubled staffing and training provider Staffline Group is seeking to raise up to £41m through a share offering in its efforts to reduce group indebtedness.

In an announcement to the London Stock Exchange, the company said it proposes to place up to £34m with institutional shareholders, and offer up to £7m in shares to qualifying shareholders at an issue price of 100p. 

According to the company’s 2018 results, published today, net debt stood at £63m the end of 2018, which is more than the group’s current market value...

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