Management Resource Solutions Regulatory News (MRS)

 Management Resource Solutions plc

EPIC: MRS

3 April 2018

Management Resource Solutions plc

("MRS" or "the Company")

Retirement of Director, Grant and Exercise of Warrants

Retirement of Non-Executive Director

Nigel Burton, a Non-Executive Director, has informed the Company that he will retire from the Board with effect from 31 March.

John Zorbas, Chairman of MRS said:

"I would like to thank Nigel for his significant contribution to the Company, both in the period prior to his appointment and in his role as a Director since April 2017. Nigel was instrumental in the success of the placing and re-admission to AIM and has played an important role in the subsequent transformation of the Company. Nigel has recently taken on additional commitments elsewhere, and we wish him every success in these new ventures."

Nigel Burton commented: "I'm pleased to have had the opportunity to work closely with the Board, senior management and advisers to return the shares from suspension and effect the changes required to make MRS a successful business. With the appointment of Paul Brenton as CEO in December and the recent release of the interim results which confirm the return to profitability, this is an appropriate opportunity for me to leave the Board, confident that the future of the Company is in safe hands."

The Board intends to seek a suitably qualified candidate to be appointed as an additional independent non-executive director.

Grant of Warrants

MRS announces the grant to Nigel Burton of Warrants to subscribe for a total of 1,000,000 new ordinary shares of €0.01 each in the Company ("Shares") at a price of 6.8p per new Ordinary Share for a period of five years.

Exercise of Warrants

Nigel Burton, today exercised 1,000,000 Warrants at an exercise price of 5p each. The consideration received by the Company was £50,000.

The 1,000,000 new Ordinary Shares ("Shares") arising from the exercise of these Warrants have been issued today, and application has been made for them to be admitted to trading on AIM.

Following this transaction Dr Burton owns a total of 6,500,000 Shares.

Following the issue of the Shares arising from this exercise of warrants, the enlarged issued share capital will be 182,946,002 Ordinary Shares. No Shares are held in treasury at the date of this announcement. The total current voting rights in the Company will therefore be 182,946,002.

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

Gerry Beaney

Peterhouse Corporate Finance Limited +44 (0)20 7469 0932

(Joint Broker)

Charles Goodfellow

Lucy Williams

This announcement includes inside information as defined in Article 7 of the Market Abuse Regula􀆟on 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