June 17, 2019 / 8:25 AM / a month ago

BUZZ-Staffline plummets on higher costs from NMW probe, capital-raising plan

** Shares of recruitment and training group Staffline Group down 28.5% at 170.8p; stock is top loser on the LSE

** Related to a probe about co’s compliance with National Minimum Wage (NMW) Regulations 2015, STAF has raised provision for costs to 15.1 mln pounds ($18.99 mln)

** Co says all costs related to liabilities from NMW non-compliance will be booked as cash costs in 2019

** Says co is also planning to raise ~30 mln pounds to reduce its 2019 year-end leverage

** Results for 2018, delayed since January due to the probe, will now be published on June 27

** At current level, STAF down ~86% YTD ($1 = 0.7952 pounds) (Reporting by Shariq Khan in Bengaluru)

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