Management Resource Solutions Regulatory News (MRS)

15 May 2019

Management Resource Solutions plc

("MRS" or the "Company")

Statement from Requisitioning Shareholders Regarding General Meeting

On 3 May 2019 the Company published a notice of General Meeting as required by a requisition received from Hargreaves Lansdown (Nominees) Ltd (on behalf of Daniel Smith) and Smith and Williamson Nominees Ltd (on behalf of Nigel Burton) which set out six resolutions to be put to shareholders, the aim of which is, if they are passed, to remove John Zorbas and Timothy Jones as directors and to appoint Nigel Burton, Trevor Brown and Daniel Smith as directors.

Under the Company's Act 2006, shareholders who hold not less than 5 per cent. of the total voting rights are entitled to circulate a statement of not more than 1,000 words to shareholders in respect of that general meeting. Such a statement was received from Hargreaves Lansdown (Nominees) Ltd and Smith and Williamson Nominees Ltd and has been circulated today, in its entirety and without alteration, in a letter to shareholders.

A copy of the letter has been placed on the Company's website.

Paul Brenton, Chief Executive Officer of MRS, commented:

"The statement does not contain anything that causes me to change the opinions expressed in my letter to shareholders of 3 May 2019. Mr Zorbas and Mr Jones have supported me in my successful efforts to return the Company to profitability and I believe the Company should continue to benefit from their business and public company experience. Mr Burton and Mr Brown have been on the board before and I do not support their return which I believe would lead to management disruption and jeopardise the completion of refinancing plans currently in their final stages. As far as I am aware, Mr Smith has no public company experience.

"Various allegations ranging from bad judgement to conflicts of interest have been levelled at the board in relation to the Company's acquisition of Alerion, all of which are categorically denied. An independent valuation of Alerion and an independent legal review of the board's procedures leading up to the acquisition have been initiated and the conclusions of both will be announced as soon as they are available.

"I recommend that Shareholders vote AGAINST all the Resolutions, as the Board intends to do in respect of the 13,499,653 Shares in which they are interested, representing approximately 6.04 per cent. of the Company's issued ordinary share capital. The deadline for the submission of proxies is 9.00 am London time on Monday 20 May."

ENDS

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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