8 Jun 2017 15:28
Management Resource Solutions plc
EPIC: MRS
8 June 2017
Management Resource Solutions plc
("MRS" or "the Company")
Grant of Warrants to Non-Executive Directors
MRS announces the grant of Warrants to subscribe for a total of 8,700,000 new ordinary shares of €0.01 each in the Company ("Shares") at a price of 5.0p per new Ordinary Share for a period of five years.
The Warrants granted are as follows:
John Zorbas - 4,700,000 Warrants
Trevor Brown - 2,000,000 Warrants
Dr Nigel Burton - 2,000,000 Warrants
The Warrants are intended to provide appropriate incentives to the Non-Executive Directors who were appointed as a condition of the Placing announced on 10 April to oversee the refinancing and turnaround of the business. The Warrants are subject to certain vesting and performance conditions.
For further information:
Management Resource Solutions plc +1 (0) 778 938 7631
John Zorbas, Chairman
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 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