Launch of Share Buy-back
Summary by AI BETAClose X
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").
24 March 2026
STAFFLINE GROUP PLC
("Staffline", the "Company" or the "Group")
LAUNCH OF SHARE BUY-BACK
Staffline Group plc, the recruitment group, today announces that it intends to commence a share buyback programme (the "Buyback") to purchase up to 4,971,315 ordinary shares of 10 pence each in the Company (the "Ordinary Shares"). The Ordinary Shares purchased pursuant to the Buyback will be cancelled.
The Group remains disciplined in its allocation of capital with the main objective being to enhance shareholder value. The Board continuously assesses the Company's medium-term plans which take account of growth prospects, investment in the business, cash generation, net borrowings, and leverage. Therefore, the amount allocated to buybacks is based on our predicted trading cash flows and financing headroom.
The Buyback will be operated in accordance with the terms of the Company's general authority to repurchase Ordinary Shares granted by shareholders at its annual general meeting (the "AGM"), held on 21 May 2025.
In accordance with the authority granted at the AGM, a) the aggregate number of Ordinary Shares to be repurchased (including Ordinary Shares purchased by the Company as part of the share buyback programme announced in 2025) will not exceed 19,021,847, b) the minimum price which may be paid for each Ordinary Share will be £0.10, and c) the maximum price (excluding expenses) which may be paid for each Ordinary Share will be the higher of: (i) an amount equal to 105 per cent of the average of the middle market quotations for the Ordinary Shares as derived from the AIM Appendix of the Daily Official List of London Stock Exchange plc for the five business days immediately preceding the day on which the purchase is made; and (ii) an amount equal to the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share on the trading venue where the purchase is carried out.
Shareholders should be aware that a purchase of Ordinary Shares by the Company on any trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares and could exceed 25 per cent. of the average daily trading volume of the preceding 20 business days. Should that be the case, the Company could exceed the pricing and/or volume restrictions as established by the Commission Delegated Regulation 2016/1052/EU (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) (the "Regulation") and therefore the Buyback may not fall within the safe harbour provisions of the Regulation.
As part of the Buyback, Panmure Liberum has been appointed to purchase the Ordinary Shares as principal.
For further information, please contact:
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Staffline Group plc Albert Ellis, Chief Executive Officer Daniel Quint, Chief Financial Officer |
via Vigo Consulting |
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Panmure Liberum (Nominated Adviser and Broker) Nick How / Satbir Kler |
020 3100 2222 |
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Zeus (Joint Broker) David Foreman (Investment Banking) Nick Searle (Sales) |
020 3829 5000 |
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Vigo Consulting (Financial PR) Jeremy Garcia / Anna Sutton |
020 7390 0230 Staffline@vigoconsulting.com
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About Staffline - Recruitment
Staffline is one of the UK's market leading Recruitment groups. It has two divisions:
Recruitment GB
The Recruitment GB business is a leading provider of flexible blue-collar workers, supplying up to c.38,000 staff per day from around 550 sites, across a wide range of industries including supermarkets, drinks, driving, food processing, logistics and manufacturing.
Recruitment Ireland
The Recruitment Ireland business is a leading end to end solutions provider operating across multiple industries, ten branch locations and ten onsite customer locations, supplying up to c.4,700 staff per day, and offering RPO, MSP, temporary and permanent recruitment solutions across public and private sectors throughout the island of Ireland.
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