22nd Jul 2019 14:45
(Alliance News) - Staffline Group PLC on Monday said HRnetGroup Ltd held a 7.4% stake in the company following a deal on Thursday last week.
On Tuesday last week, HRnet upped its stake in the staffing firm to 5.3% from an amount below the disclosure threshold, then to 6.25 on Wednesday and finally 7.4% on Thursday.
This follows a GBP41 million fundraise by Staffline, which was completed on Monday last week and included a GBP34 million placing and GBP7.0 million open offer.
Staffline had previously said that if its placing was not successful it might have been forced out of business. All proceeds went toward debt reduction.
Shares in Staffline were up 2.0% at 136.00 pence on Monday afternoon.
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