5 Jul 2019 09:34
5 July 2019
Management Resource Solutions plc
("MRS" or the "Company")
Notice of Requisition of General Meeting
Management Resource Solutions plc, a leading Maintenance, Fabrication, Civil and Earthworks company, announces it has received a letter from certain registered holders of MRS shares, each a nominee of and acting on the instructions of one or more funds managed by Barclays Direct Investing Nominees Limited and Interactive Investor Services Nominees Limited, under section 303 of the Companies Act 2006, requisitioning a general meeting of the Company's shareholders (the "Requisition").
The Requisition puts forward resolutions that seek the removal of certain Directors of the Board of MRS, being John Zorbas, Timothy Jones, Robert Hackett, and any Director appointed to the Board between the date of the Requisition and the date on which the shareholder general meeting to consider the resolutions of the Requisition is convened, and to appoint John Copley and Robert Wall to the Board of the Company (the "Resolutions").
The Board of Directors regrets that this action has been taken a short time after separate recent requisitioned resolutions were not passed and considers the Requisition to be an unwelcome distraction from the objectives of the Board and the Company. The Board is unanimously of the view that the Resolutions are not in the best interests of the Company and its shareholders as a whole and intends to unanimously recommend that shareholders vote against the Resolutions at any requisitioned general meeting.
The Board is required to call a general meeting within 21 days of receipt of the Requisition and to provide for such meeting to be held on a date not more than 28 days after the notice of such meeting. The Company will send shareholders a notice of general meeting in due course in accordance with the requirements of the Companies Act 2006.
ENDS
Enquiries:
Management Resource Solutions plc John Zorbas, Chairman Paul Brenton, CEO Tim Jones, Finance Director Robert Hackett, Non-Executive Director
| via FTI Consulting Tel: +44 (0) 20 3727 1000 |
Arden Partners plc (NOMAD & Broker) Tom Price Maria Gomez de Olea
| Tel: +44 (0) 20 37614 5900 |
FTI Consulting (Financial PR) Alex Beagley James Styles Sam Macpherson | 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