Management Resource Solutions PLC Claim received relating to MRS Guernsey Limited (0816J)
June 26 2017 - 1:00AM
UK Regulatory
TIDMMRS
RNS Number : 0816J
Management Resource Solutions PLC
26 June 2017
Management Resource Solutions plc
EPIC: MRS
26 June 2017
Management Resource Solutions plc
("MRS" or "the Company")
Claim received relating to MRS Guernsey Limited
The Directors of Management Resource Solutions Plc ("MRS" or
"the Company") wish to provide details of a claim ("the Claim")
received from the Joint Voluntary Liquidators ("JVLs") of MRS
Guernsey Limited (a subsidiary of the Company that is in voluntary
liquidation).
The Company has previously notified material issues relating to
consulting contracts in Papua New Guinea and New South Wales. On 30
December 2016 the directors announced that MRS Guernsey Limited
(the operating entity of the Papua New Guinea contract) had been
placed into voluntary liquidation. The liquidation of MRS Guernsey
was part of the ongoing process of resolving various legacy issues
within the MRS Group. The Directors have received a letter from the
JVLs claiming A$3.6 million representing the amount outstanding on
the intercompany balance due to MRS Guernsey Limited from the
Company. The JVLs have requested payment of this amount by 19 July
2017. In the event that payment is not made by 19 July the JVLs
reserve their right to commence proceedings against the Company to
recover funds for the benefit of the stakeholders of MRS Guernsey
Limited.
The Company considers the Claim to be without merit and will
defend the matter vigorously.
For further information:
Management Resource Solutions plc +1 (0) 778 938 7631
John Zorbas, Chairman
Northland Capital Partners Limited +44 (0) 20 3861 6625
(Nominated Adviser and Joint Broker)
Tom Price
Gerry Beaney
Peterhouse Corporate Finance Limited +44 (0)20 7469 0932
(Joint Broker)
Charles Goodfellow
Lucy Williams
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regula􀆟on No. 596/2014
and is disclosed in accordance with the Company's obligations under
Article 17 of those Regulations. On the publication of this
announcement via a Regulatory Information Service ("RIS"), this
information is considered to be in the public domain.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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