Management Resource Solutions PLC Accelerated Bookbuild (4897S)
25 June 2018 - 10:38PM
UK Regulatory
TIDMMRS
RNS Number : 4897S
Management Resource Solutions PLC
25 June 2018
Management Resource Solutions plc
EPIC: MRS
25 June 2018
Management Resource Solutions plc
("MRS" or "the Company")
Accelerated Bookbuild for Employees, Contractors and
Directors
The Board of MRS is pleased to announce a proposed placing of up
to 14 million new ordinary shares of EUR0.01 each ("Ordinary
Shares") to employees, contractors and directors (the "New Share
Placing") at a price of 6.5p per share.
The New Share Placing will provide MRS with additional working
capital.
The New Share Placing is being offered by way of a non-brokered
accelerated bookbuild ("Bookbuild") which will be launched
immediately following this announcement.
It is expected that the finalisation of the Bookbuild will be
shortly after its launch is announced, and a further announcement
will be made to confirm its completion in due course.
Trading update
The Board of MRS refers to its previously released earnings
forecast for the year ending 30 June 2018 of 2p per share,
equivalent to an EBITDA of approximately $11.5 million, which, on
the basis of current estimates and subject to audit is expected to
be achieved.
For further information:
Management Resource Solutions plc
John Zorbas, Chairman
+1 (0) 778 938-7631
Paul Brenton, CEO +61 (0) 401 072 464
Tim Jones, Finance Director
+44 (0) 79 6644 2985
Northland Capital Partners Limited +44 (0) 20 3861 6625
(Nominated Adviser and Joint Broker)
Tom Price
Jamie Spotswood
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regula􀆟on No. 596/2014
and is disclosed in accordance with the Company's obligations under
Article 17 of those Regulations. On the publication of this
announcement via a Regulatory Information Service ("RIS"), this
information is considered to be in the public domain.
About MRS
Management Resource Solutions plc (MRS), through its
subsidiaries Bachmann Plant Hire and MRS Services Group, offers
plant hire, equipment repair, refurbishment and fabrication, mine
rehabilitation, earthmoving, road construction and other support
services to a wide base of private and public sector clients in
Australia. MRS caters predominately for the mining, civil
engineering, construction and infrastructure industries.
Further information on the Company can be found at
http://www.mrsplc.info
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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