Staffline (#STAF) – proposed £48.4m equity raise at 50p per share & related debt refinancing

Staffline – argues “well positioned to take advantage of the increasing opportunities”. Really?...

A trading update from recruitment and training group Staffline (STAF) emphasises “underlying operating profit increased 133% in Q1 2021 year-on-year… provides increased confidence in the full year”. How justified is a share price rise to around 75p?...

Staffline (#STAF) – Q1 ahead of expectations, though “continues to evaluate” finance options

Staffline (#STAF) – agreement to sell Apprenticeships business for “nominal fee” to focus on “core employability and adult skills capabilities”

Staffline – argues some business ‘delight’… but what about the balance sheet?

Recruitment and training group Staffline (STAF) is “delighted to be extending our working partnership with Tesco… in addition to our PeoplePlus' services being represented so widely across the CAEHRS framework. We also welcome the Chancellor's recent amendments to existing VAT deferral measures” – and the shares have responded above 27p, 15% higher...

Staffline (#STAF) – announces new business & that VAT payment period gives it additional time for “mitigating actions with regards to liquidity”

Staffline (#STAF) – 2019 update & “expects to agree and implement a revised financing structure” ahead of results in July

Staffline (#STAF) – net impacted by “temporary shutdown of the majority of other clients in non-food sectors”

Staffline – litany of woe continues as CEO follows CFO, auditor & others to the exit

Recruitment and training company Staffline (STAF) has announced CEO Chris Pullen has “tendered his resignation to the board”. It seeks to reassure that he will “continue… during his notice period in order to facilitate an orderly succession and maintain business continuity”, that “the board's outlook for 2020 remains unchanged” and that it “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 shares are though still lower, below 45p…

Staffline (#STAF) – resignation of CEO Chris Pullen, intends to initiate a formal executive search process immediately

Staffline (#STAF) – warns due to further provisions & write downs, “actively considering certain strategic options which may significantly reduce net debt”

Staffline – ANOTHER profit warning, ANOTHER accounting screw up & CFO 'resigned'...

Previously writing on recruitment and training group Staffline (STAF), in June with the shares above 100p I noted 2018 results (eventually), proposed bailout fundraising & directors 'avin a laugh?, concluding it’s also clearly challenging trading and that’s enough for me at this juncture to continue to avoid. Today “Trading Update” and “Directorate Change” – rarely a good combination…

Staffline (#STAF) – warns due to challenges to trading in Q4, CFO leaves with immediate effect

Staffline (#STAF) – H1 slump to loss, dividend axed, “weak consumer confidence has weighed on our end customers”

Staffline (#STAF) – PwC resign as auditor, stated this with “mutual agreement with the audit committee” not to participate in the company’s soon competitive tender process

Staffline (#STAF) – 184% open offer demand, to raise £6.99m

Table of shorted AIM shares - week to 28/06/2019

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2018 and thus far in 2019 (by net short position %, those in bold not on the list at the start of 2019) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

Staffline – 2018 results (eventually), proposed bailout fundraising & directors 'avin a laugh?

Recruitment and training group, Staffline (STAF) has eventually announced 2018 calendar year results (though not included the accounts in the RNS – instead making us go to https://www.stafflinegroupplc.co.uk !) and a “Proposed Placing and Open Offer”…

Staffline (#STAF) – proposed up to £34m placing and up to £7m open offer at 100p, needed to reduce debt

Staffline (#STAF) – 2018 adj. profit decline & swing to statutory loss