TIDMMRS

RNS Number : 7400N

Management Resource Solutions PLC

28 October 2016

Management Resource Solutions Plc

Directorate Change

28 October 2016

The directors of Management Resource Solutions Plc ("MRS" or "Company") announce that Paul Morffew has ceased to be Chief Executive Officer of MRS and a director of both the Company and its subsidiaries with immediate effect.

The board is pleased to report that Joe Clayton, chief executive of recently acquired SubZero, has agreed to act as interim chief executive of the Company and all group companies with immediate effect. Given the sudden nature of his appointment, information required to be disclosed regarding Mr Clayton under AIM Rule 17 will follow in due course.

Paul Morffew founded the original business of MRS, providing consulting services to the engineering, mining, petrochemical, energy, civil engineering and transportation industries, in 2007. Since the Company joined AIM in December 2014, it has made a number of acquisitions which have significantly increased its scale and today the vast majority of its business is in construction services such as plant hire, equipment maintenance and project management. It has recently become apparent to the non-executive directors that Mr Morffew may no longer be the best person to run the enlarged group and ultimately they have concluded that it is in the best interests of all shareholders, employees and customers that Mr Morffew leave his post with immediate effect.

For further information:

Management Resource Solutions PLC c/o FTI +44 (0)20 3727 1000

Murray d'Almeida, Chairman

Timothy Jones, Finance Director

Northland Capital Partners Limited +44 (0)203 861 6625

(Nominated Adviser and Joint Broker)

William Vandyk

Gerry Beaney

Peterhouse Corporate Finance Limited +44 (0)20 7469 0932

(Joint Broker)

Charles Goodfellow

Lucy Williams

FTI Consulting +44 (0)20 3727 1000

Edward Westropp

Emilie O'Herne

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

October 28, 2016 04:01 ET (08:01 GMT)

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