Staffline Group PLC Result of Open Offer (2460B)

TIDMSTAF

RNS Number : 2460B

Staffline Group PLC

09 June 2021

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN STAFFLINE GROUP PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF STAFFLINE GROUP PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

9 June 2021

Staffline Group plc

("Staffline", the "Company" or the "Group")

Result of Open Offer

Staffline, the recruitment and training group, is pleased to announce that further to the announcement of the Open Offer on 21 May 2021, it has conditionally raised total gross proceeds of GBP4.4 million via the Open Offer.

Staffline is pleased to announce that it has received valid acceptances under the Open Offer and the Excess Application Facility significantly in excess of the 8,837,242 Open Offer Shares available. Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement, applications for New Ordinary Shares under the Excess Application Facility will be scaled back as outlined in the Circular.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. On the assumption that, amongst other things, the Resolutions are passed by Shareholders at the General Meeting, it is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 10 June 2021 (being the business day following the General Meeting). The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

New Ordinary Shares in uncertificated form are expected to be credited to Shareholders who hold their Ordinary Shares in CREST accounts on 10 June 2021. Definitive share certificates for New Ordinary Shares are expected to be despatched to Shareholders who hold their Ordinary Shares in certificated form within 10 business days of Admission.

Related Party Transaction

Henry Spain Investment Services Limited is considered to be a related party of the Company (the "Substantial Shareholder") for the purposes of the AIM Rules by virtue of its status as a substantial shareholder of the Company.

The Substantial Shareholder has agreed to subscribe for 10,081,616 New Ordinary Shares as part of the Placing and Open Offer.

The Directors, having consulted with the Company's Nominated Adviser, Liberum, consider that the terms of the participation in the Placing and Open Offer by the Substantial Shareholder is fair and reasonable insofar as the shareholders of the Company are concerned.

Capitalised terms not otherwise defined in the text of this announcement have the meanings given in the Company's announcement of 21 May 2021 .

Enquiries:

 
  Staffline Group plc                        via Vigo Consulting 
   www.stafflinegroupplc.co.uk 
   Albert Ellis, Chief Executive Officer 
   Daniel Quint, Chief Financial Officer 
 
 Liberum (Nominated Adviser and Sole 
  Bookrunner) 
  www.liberum.com 
  Bidhi Bhoma / Richard Lindley / William 
  Hall / Christopher Whitaker                020 3100 2222 
 
 Vigo Consulting ( Financial PR)             020 7390 0230 
  www.vigoconsulting.com                      staffline@vigoconsulting.com 
  Jeremy Garcia / Antonia Pollock

Market Abuse Regulation:

For the purposes of MAR, Article 2 of Commission Implementing Regulation (EU) 2016/1055 and the UK version of such implementing regulation, the person responsible for arranging for the release of this Announcement on behalf of the Company is Daniel Quint, Chief Financial Officer

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 three divisions:

Recruitment GB

Staffline is the UK's leading provider of flexible blue-collar workers, supplying approximately 40,000 staff per day on average to around 450 client sites, across a wide range of industries including agriculture, supermarkets, drinks, driving, food processing, logistics and manufacturing.

Recruitment Ireland

The recruitment Ireland business is a leading end to end solutions provider operating across twenty industries, ten branch locations, fifteen onsite customer locations and offering RPO, MSP, temporary and permanent solutions across the island of Ireland.

PeoplePlus Division

Staffline is the leading adult skills and training provider in the UK, delivering adult education, prison education and skills-based employability programmes across the country.

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END

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June 09, 2021 02:00 ET (06:00 GMT)

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