24 May 2016 07:03
24 May 2016
Management Resource Solutions PLC
("MRS" or the "Company")
Issue of Equity & Appointment of Joint Broker
MRS, the human capital resource consultancy, is pleased to announce it has raised £300,000 (before expenses) via the placing of 3,529,411 new ordinary shares (the "Placing Shares") with new and existing investors, at a price of 8.5p per Placing Share (the "Placing"). The Placing was undertaken by Peterhouse Corporate Finance and the Placing Shares represent approximately 9.7% of the Company's issued share capital as enlarged by the Placing.
The net proceeds of the Placing will fund pipeline of new and potential contract wins and will also provide the Company with additional working capital.
The Placing shares will rank pari passu with the Company's existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 27May 2016.
Following the Admission of the Placing Shares, there will be a total of 36,346,093 ordinary shares of €0.01 each in issue with each share carrying the right of one vote. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
The Company is also pleased to announce that it has appointed Peterhouse Corporate Finance as the Company's joint broker, with immediate effect.
Murray d'Almeida, Chairman, commented:
"We are very pleased to announce this small equity placing, which will amongst other things, fund the working capital requirements for the pipeline of new and potential contract wins.
"We are also happy to be working with Peterhouse Corporate Finance as joint broker from today."
-Ends-
For further information:
Management Resource Solutions PLC Paul Morffew, Chief Executive Timothy Jones, Finance Director | c/o FTI +44 (0)20 3727 1000 |
|
|
Northland Capital Partners Limited (Nominated Adviser and Broker) Gerry Beaney David Hignell
| +44 (0)203 861 6625 |
Peterhouse Corporate Finance Limited Charles Goodfellow Lucy Williams
| +44 (0)20 7469 0932 |
FTI Consulting Edward Westropp Adam Cubbage
| +44 (0)20 3727 1000 |
About MRS
MRS provides project, quality, environmental and health & safety management services to some of the largest companies and projects across Australia, Oceania and Southeast Asia. MRS is a sector specialist in the construction, engineering, civil engineering, petrochemical and coal seam gas sectors. MRS sources its contractors from a database of over 23,000 professionals around the globe, allowing it to react quickly and fully to client requirements.
The Company's Admission Document can be found at http://www.mrsplc.net/.