Staffline Group PLC Resignation of CEO (5347D)
February 20 2020 - 2:00AM
UK Regulatory
TIDMSTAF
RNS Number : 5347D
Staffline Group PLC
20 February 2020
20 February 2020
STAFFLINE GROUP PLC
("Staffline", the "Company" or the "Group")
Resignation of CEO
Staffline, the recruitment and training group, announces that on
19 February 2020, Chris Pullen, the Company's Chief Executive
Officer, tendered his resignation to the Board. Chris will continue
to carry out his role as Chief Executive Officer during his notice
period in order to facilitate an orderly succession and maintain
business continuity.
The Board intends to initiate a formal executive search process
to identify a new Chief Executive Officer immediately and will
update the market in due course.
The Board's outlook for 2020 remains unchanged and in-line with
market expectations, albeit the Group continues to operate in a
competitive environment.
The Company remains in constructive dialogue with its lenders
and the Board expects to reach agreement with respect to revised
terms that will remove the risk of covenant issues and ensure that
the Company retains sufficient liquidity headroom. The Group's net
debt position at 31 December 2019 is expected to be GBP60 million,
which remains subject to audit.
Tracy Lewis, Non-Executive Chair of Staffline, commented:
"I would like to thank Chris for his contribution to the
business as both Chief Executive and previously Finance Director.
Chris has led the business through very difficult circumstances and
we wish him well for the future. I look forward to announcing a new
CEO in due course."
For further information, please contact:
Staffline Group plc via Vigo Communications
www.stafflinegroupplc.co.uk
Tracy Lewis, Non-Executive Chair
Liberum NOMAD and Broker
www.liberum.com
Bidhi Bhoma / Joshua Hughes 020 3100 2222
Vigo Communications Financial PR 020 7390 0237
www.vigocomms.com staffline@vigocomms.com
Jeremy Garcia / Antonia Pollock / Charlie
Neish
Market Abuse Regulation
This announcement is released by Staffline Group plc and
contains inside information for the purposes of the Market Abuse
Regulation (EU) 596/2014 ("MAR") and is disclosed in accordance
with the Company's obligations under Article 17 of MAR. The person
who arranged for the release of this announcement on behalf of
Staffline Group plc was Phil Gormley, Company Secretary.
About Staffline - Recruitment, Training and Support
Enabling the Future of Work(TM)
Staffline is the UK's market leading Recruitment and Training
group. It has two divisions:
Recruitment Division
Staffline is the UK's leading provider of flexible blue-collar
workers, supplying over 60,000 staff per day to c. 1,600 private
sector clients, across a wide range of industries including
agriculture, drinks, driving, food processing, logistics and
manufacturing. It operates from over c.460 locations in UK,
Republic of Ireland and Poland. Its world leading Customer
Experience platform provides optimised customer-based staffing
management solutions whilst providing market-leading levels of job
satisfaction for workers.
PeoplePlus Division
Staffline is the leading adult skills and training provider in
the UK, delivering apprenticeships, adult education, prison
education and skills-based employability programmes across the
country.
Skills and Training - market leading provider of Apprenticeships
(both Levy and non-Levy), learning and development, adult education
and health and well-being programmes to the Private and Public
sector.
Justice and Community - largest independent provider of
education and training services for prisoners and ex-offenders, as
well as individual support services for carers and people with
disabilities, both at home and in the work place.
Employability - market leading provider of programmes providing
back-to-work education, skills support services to the unemployed
and enterprise advice to individuals wanting to start their own
business.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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February 20, 2020 02:00 ET (07:00 GMT)
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