LONDON (Alliance News) - Management Resource Solutions PLC on Thursday said it has entered into non-binding heads of terms over a potential acquisition that would likely be classified as a reverse takeover under AIM rules. It didn't name the target company.
The company said its shares will remain suspended for the time being.
"The company's shares will remain suspended from trading until such time as either an admission document setting out details of the proposed acquisition is published, which would be no earlier than the fourth quarter of 2015, or confirmation is given that the transaction is not proceeding," the company said.
In addition, Management Resource said it has been invited to tender for a number of new contracts.
It is awaiting responses to those tenders.
"The directors will provide an update on these contracts at the appropriate time and are confident that the marketplace in which MRS operates remains buoyant," the company said.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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