2 May 2019 13:00
2 May 2019
Management Resource Solutions plc
("MRS" or the "Company")
Board Changes
Management Resource Solutions plc (AIM:MRS), a leading Maintenance, Fabrication, Civil and Earthworks company, today announces the following proposed board changes:
John Zorbas, Non-Executive Chairman, has informed the board of his intention to step down from the board on 31 August 2019, having led the Company during its period of recovery and return to profitability. The board would like to take this opportunity to thank John for all of his hard work in the business and wishes him all the best for the future.
Further to the Company's announcement on 15 April 2019, the board is pleased to announce that it intends to appoint two independent non-executive directors and has identified two suitable candidates. Robert Hackett and Peter Dighton will be appointed to the board subject to the customary process of due diligence and subject to the outcome of the general meeting that is expected to take place on 22 May 2019.
Mr Hackett is an experienced executive in the Australian oil and gas and construction industries, having previously been CEO of Century Drilling Limited and MB Petroleum Services. He is currently chairman of Strathlyn Investments Pty Ltd, a private investment and trustee company.
Mr Dighton is a qualified solicitor based near Brisbane and is currently principal of Law Strategies Pty Ltd, a consultancy that specialises in the legal aspects of large projects and transactions. Mr Dighton is an experienced listed company director in Australia and the UK, where his prior appointments included board positions with two AIM listed companies.
In addition, the Board intends to appoint a UK-based independent Non-Executive Director with experience of equity capital markets and as a public company director, specifically on AIM.
It is unlikely that any of these appointments will be made prior to the general meeting that is expected to take place on 22 May 2019 and a further announcement will be made when appropriate.
Board composition
Following the appointment of Mr Hackett, Mr Dighton and a third additional independent non-executive director, the composition of the Board will be compliant with the guidelines of the QCA Corporate Governance Code in having a board that is comprised with at least two independent non-executive directors. The Company's corporate governance statement that is available on the Company's website will be updated to reflect the new appointments and be made available to shareholders in due course.
ENDS
For further information:
Management Resource Solutions plc John Zorbas, Chairman Paul Brenton, CEO Tim Jones, Finance Director
| via FTI Consulting Tel: +44 (0) 20 3727 1000 |
Arden Partners plc (NOMAD & Broker) Tom Price Alex Penney Maria Gomez de Olea
| Tel: +44 (0) 20 37614 5900 |
FTI Consulting (Financial PR) Alex Beagley James Styles Laura Saraby | Tel: +44 (0) 20 3727 1000 |
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