Management Resource Solutions PLC Approval of Acquisition and Efic Facility (2851N)
28 January 2016 - 8:00PM
UK Regulatory
TIDMMRS
RNS Number : 2851N
Management Resource Solutions PLC
28 January 2016
28 January 2015 For immediate release
Management Resource Solutions PLC
("MRS" or the "Company")
Approval of Acquisition - Result of General Meeting
MRS, the human capital resource consultancy, is pleased to
announce that at the Company's General Meeting to approve the
acquisition of Bachmann Plant Hire Pty Ltd (the "Acquisition"),
which took place at 7.00 a.m. (UK time), the resolution put to
shareholders was duly passed.
The final condition of the Acquisition is re-admission of the
Company's ordinary shares of EUR0.01 each ("Ordinary Shares") to
trading on AIM, in accordance with the AIM Rules for Companies,
which will take effect on 1 February 2016. No new Ordinary Shares
are being issued in connection with the Acquisition and so the
existing 32,816,682 Ordinary Shares will continue to be admitted to
trading.
In addition, the Company is pleased to report that it has
received a loan facility of A$1.5m from Export Finance and
Insurance Corporation (Efic), the Australian export credit agency.
This facility provides government-backed support of the Company's
ongoing work in Papua New Guinea.
Paul Morffew, CEO of MRS said:
"The acquisition of Bachmann Plant Hire is a great step for MRS
and is immediately earnings enhancing and complementary to our
offering. We are also pleased to have partnered with Efic, which is
a great endorsement for the enlarged business. We look forward to
integrating Bachmann into our service offering and the expanded
capacity this delivers to the business. We would also like to take
this opportunity to welcome the Bachmann employees into our
team."
-Ends-
For further information:
Management Resource Solutions c/o FTI +44
PLC (0)20 3727 1000
Paul Morffew, Chief Executive
Timothy Jones, Finance Director
Northland Capital Partners Limited
(Nominated Adviser and Broker)
William Vandyk +44 (0)20 7382
David Hignell 1100
FTI Consulting
Edward Westropp +44 (0)20 3727
Adam Cubbage 1000
About MRS
MRS provides project, quality, environmental and health &
safety management services to some of the largest companies and
projects across Australia, Oceania and Southeast Asia. MRS is a
sector specialist in the construction, engineering, civil
engineering, petrochemical and coal seam gas sectors. MRS sources
its contractors from a database of over 23,000 professionals around
the globe, allowing it to react quickly and fully to client
requirements.
The Company's Admission Document can be found at
http://www.mrsplc.net/.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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