Liberum acts as Nominated Adviser and Sole Bookrunner on £48.4m fundraise for Staffline Group plc
We are pleased to announce that Liberum acted as Nominated Adviser, Sole Broker and Sole Bookrunner on a £44.0m Placing and Subscription and £4.4m Open Offer raising £48.4m, in aggregate for Staffline. The Placing, Subscription and Open Offer shares were issued at 50p and represent 140% of the Company’s pre-existing issued share capital.
The fundraise was completed in conjunction with a refinancing of the Company’s debt facilities. The proceeds of the fundraise are being used to reduce the indebtedness of the Group and to provide working capital for growth.
The fundraise and debt refinancing provide Staffline with a strengthened balance sheet to enable it to capitalise on the opportunities arising from improving business confidence and the wider Covid-19 economic recovery. The fundraise, which was oversubscribed, has also introduced new, blue-chip, institutional investors to the shareholder register.
Liberum is Sole Broker to the Company and has been Nominated Adviser since January 2011.
Board – Bidhi Bhoma
Investment Banking – Richard Lindley, William Hall, Chris Whitaker, Anthony Schia
Research – Joe Brent
Sales – Julian Collett, Oliver Baxendale, Jamie Vickers, Sebastian Fernandez, Alistair Smallwood
CIR – Lynsey Cox, Connie Owens
Legal – Rebecca Gordon, Alice Foster