LONDON (Alliance News) - Management Resource Solutions PLC on Tuesday said it will hold a general meeting later this month to approve the reverse takeover of Bachmann Plant Hire Pty Ltd.
Management Resource Solutions struck a deal last week to acquire Bachmann, a Queensland-based civil construction services business, focused on bulk earthworks and plant hire operations, for AUD13.6 million.
Shareholders in Management Resource Solutions will vote on the deal at a meeting on January 28 and the company expects, subject to approval, its shares will be effectively cancelled then re-admitted to AIM on February 1.
Management Resource Solutions shares were up 21% early Tuesday to 24.02 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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