| Ticker: PSTFY | Buckland House, Waterside Drive, Langley Business Park | |
| Exchange: NASDAQ-National Market | Slough, Foreign SL3 6EZ | |
| Industry: Service |
| Type of Shares: | American Depositary Receipts | Filing Date: | 7/8/96 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 8/6/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 1,400,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 1,100,000 | Gross Spread: | $0.63 | |
| Offering Amount: | $25,000,000 | Selling: | $0.38 | |
| Expenses: | $939,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,533,575 |
| Manager | Tier | Phone |
| Unterberg Harris | Lead Manager | (212) 888-5609 |
| George K. Baum & Company | Co-manager | (816) 283-5332 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/96 | 3/31/96 | ||||
| Revenue: | $24.41 | Assets: | $20.46 | ||
| Net Income: | $2.87 | Liabilities: | $5.39 | ||
| EPS: | $0.61 | Equity: | $15.07 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company believes that it is the leading provider of temporary laboratory scientists and technicians throughout the United Kingdom, based on internally prepared market statistics. Lab Staff, the company's principal operating subsidiary, currently has 875 temporary scientific professional on assignment and a candidate database of 22,000. Lab Staff provides services to more than 580 clients at more than 680 sites through four branches located in Langley, Manchester, Sutton Coldfield and Glasgow. In 1994, the company started a second operating subsidiary, Executives on Assignment, to supply senior executives for temporary assignments. Lab Staff operates in a highly focused niche sector of the temporary staffing industry. Within the scientific staffing sector, there are a large number of discrete skills and a need to match scientists' skills precisely with clients' requirements. The company's client relationships, national presence and experienced team of consultants enable Lab Staff to deliver qualified candidates whose skills are carefully matched to each assignments. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the funding of continued expansion (including acquisitions and strategic alliances) and working capital. |
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