Management Resource Solutions PLC Update on claim relating to MRS Guernsey Ltd (4358L)
July 19 2017 - 1:00AM
UK Regulatory
TIDMMRS
RNS Number : 4358L
Management Resource Solutions PLC
19 July 2017
Management Resource Solutions plc
EPIC: MRS
19 July 2017
Management Resource Solutions plc
("MRS" or "the Company")
Update on claim received relating to MRS Guernsey Limited
The Directors of Management Resource Solutions Plc ("MRS" or
"the Company") wish to provide an update regarding the claim ("the
Claim") received from the Joint Voluntary Liquidators ("JVLs") of
MRS Guernsey Limited (a subsidiary of the Company that is in
voluntary liquidation).
Following receipt of the Claim, the Company has been working
through the accounting records relating to the Papua New Guinea
contract, for which MRS Guernsey Limited (which was placed into
voluntary liquidation as announced on 30 December 2016) was the
operating entity.
The Directors are confident that they will be able to
demonstrate that the PNG contract and therefore MRS (Guernsey)
Limited were loss making and therefore that no intercompany balance
is due to MRS Guernsey Limited from the Company.
The Company is in dialogue with the JVLs and will provide a
further update when agreement has been reached, which it is hoped
will be possible before the audited results to 30 June 2017 are
published.
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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