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28 Oct 2016 09:01
Management Resource Solutions Plc
Directorate Change
28 October 2016
The directors of Management Resource Solutions Plc ("MRS" or "Company") announce that Paul Morffew has ceased to be Chief Executive Officer of MRS and a director of both the Company and its subsidiaries with immediate effect.
The board is pleased to report that Joe Clayton, chief executive of recently acquired SubZero, has agreed to act as interim chief executive of the Company and all group companies with immediate effect. Given the sudden nature of his appointment, information required to be disclosed regarding Mr Clayton under AIM Rule 17 will follow in due course.
Paul Morffew founded the original business of MRS, providing consulting services to the engineering, mining, petrochemical, energy, civil engineering and transportation industries, in 2007. Since the Company joined AIM in December 2014, it has made a number of acquisitions which have significantly increased its scale and today the vast majority of its business is in construction services such as plant hire, equipment maintenance and project management. It has recently become apparent to the non-executive directors that Mr Morffew may no longer be the best person to run the enlarged group and ultimately they have concluded that it is in the best interests of all shareholders, employees and customers that Mr Morffew leave his post with immediate effect.
For further information:
Management Resource Solutions PLC c/o FTI +44 (0)20 3727 1000
Murray d'Almeida, Chairman
Timothy Jones, Finance Director
Northland Capital Partners Limited +44 (0)203 861 6625
(Nominated Adviser and Joint Broker)
William Vandyk
Gerry Beaney
Peterhouse Corporate Finance Limited +44 (0)20 7469 0932
(Joint Broker)
Charles Goodfellow
Lucy Williams
FTI Consulting +44 (0)20 3727 1000
Edward Westropp
Emilie O'Herne
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