25 Jun 2018 13:38
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 €0.01 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 Regulaon 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