20 Aug 2015 07:00
Management Resource Solutions PLC
Statement Regarding Suspension
The directors of Management Resource Solutions Plc ("MRS" or the "Company") note the suspension of the Company's ordinary shares from trading on AIM which took effect at 16:25 yesterday.
The Company has entered into non-binding heads of terms regarding a potential acquisition which, if completed on the currently proposed terms, would be classified as a reverse takeover under the AIM Rules.
The Company's shares will remain suspended from trading until such time as either an admission document setting out details of the proposed acquisition is published, which would be no earlier than the fourth quarter of 2015, or confirmation is given that the transaction is not proceeding.
Additionally, the Company has recently been invited to tender for a number of new contracts and awaits responses to those tenders. The directors will provide an update on these contracts at the appropriate time and are confident that the marketplace in which MRS operates remains buoyant.
Further announcements will be made in due course.
For further information:
Management Resource Solutions PLC Paul Morffew, Chief Executive Timothy Jones, Finance Director | c/o FTI +44 (0)20 3727 1000 |
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Northland Capital Partners Limited (Nominated Adviser and Broker) William Vandyk David Hignell | +44 (0)20 7382 1100 |
FTI Consulting Edward Westropp Oliver Winters Adam Cubbage
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+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 are sector specialists 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.