mrs13 Sep 2019 16:05
King Read this ,then you will what type of peoples we had on mrs Between LH ..PRIVATE INVESTOR AND BOD ….
Mon, 15th Apr 2019 07:00
RNS Number : 1262W
Management Resource Solutions PLC
15 April 2019
15 April 2019
Management Resource Solutions plc
("MRS", the "Company" or the "Group")
Update on acquisition of Alerion Consulting Ltd ("Alerion") and other matters
Notice of Requisition of General Meeting
The Company wishes to provide further information on the background to its recent acquisition of Alerion which was announced on 28 March 2019.
The board reiterates that it is very pleased to have acquired Alerion, which it believes to be an exciting business that will complement the service offering of the MRS Group, further enhancing the industry-leading services we offer to our customers.
As stated, Alerion's technology has been in the development phase pre-acquisition; this is now ready to be deployed on drones conducting aerial surveys at both our MRS Services Group Pty Ltd ("MRSSG") and Bachmann Plant Hire Pty Ltd ("BPH") operations. The Group has identified and budgeted costs of A$150,000 (£81,000) for marketing and hardware in order to generate the first external revenue stream. In accordance with the acquisition agreement, the Company has allocated A$555,000 (£300,000) of intra-group funding to Alerion to cover Alerion's costs.
The Alerion technology will operate through the Australian company Aerial Survey Solutions Pty Ltd (a wholly owned subsidiary of MRS). The survey team that currently operates within BPH will be managed by Elliott Talbott and operate the drones and undertake data analysis for current work streams. Further, MRS CEO Paul Brenton and Mr Talbott will continue to develop the external services (discussions and work on which are already underway), and as this grows, additional employees will be taken on to run the operations full time under the management of Mr Talbott. Under the terms of his service agreement, Mr Talbott has agreed to spend the equivalent of at least a day per week on Alerion's business for a salary of £35,000 per annum, as well as £750 per day for any additional work done. Additionally, Mr Talbott has informed the Company that he will be relinquishing a number of his other business commitments, including his roles at TitanBlock and Leinad Ltd, in order to focus on the roll out of Alerion within the Group. Mr Talbott will retain his role at Bolt.Global.
Further information on the vendors
· Elliott Talbott, the founder of Alerion was introduced to members of the board by Leon Hogan, a large shareholder of the company, for which he received a fee of £19,000. The other vendors are Mr Talbott's wife, and a company of which Mr Talbott is the sole beneficiary, and Christopher Grove (together the "Vendors").
Sign In
Follow the stocks
