Management Resource Solutions PLC Director Retirement, Grant & Exercise of Warrants (4779J)
April 03 2018 - 1:01AM
UK Regulatory
TIDMMRS
RNS Number : 4779J
Management Resource Solutions PLC
03 April 2018
Management Resource Solutions plc
EPIC: MRS
3 April 2018
Management Resource Solutions plc
("MRS" or "the Company")
Retirement of Director, Grant and Exercise of Warrants
Retirement of Non-Executive Director
Nigel Burton, a Non-Executive Director, has informed the Company
that he will retire from the Board with effect from 31 March.
John Zorbas, Chairman of MRS said:
"I would like to thank Nigel for his significant contribution to
the Company, both in the period prior to his appointment and in his
role as a Director since April 2017. Nigel was instrumental in the
success of the placing and re-admission to AIM and has played an
important role in the subsequent transformation of the Company.
Nigel has recently taken on additional commitments elsewhere, and
we wish him every success in these new ventures."
Nigel Burton commented: "I'm pleased to have had the opportunity
to work closely with the Board, senior management and advisers to
return the shares from suspension and effect the changes required
to make MRS a successful business. With the appointment of Paul
Brenton as CEO in December and the recent release of the interim
results which confirm the return to profitability, this is an
appropriate opportunity for me to leave the Board, confident that
the future of the Company is in safe hands."
The Board intends to seek a suitably qualified candidate to be
appointed as an additional independent non-executive director.
Grant of Warrants
MRS announces the grant to Nigel Burton of Warrants to subscribe
for a total of 1,000,000 new ordinary shares of EUR0.01 each in the
Company ("Shares") at a price of 6.8p per new Ordinary Share for a
period of five years.
Exercise of Warrants
Nigel Burton, today exercised 1,000,000 Warrants at an exercise
price of 5p each. The consideration received by the Company was
GBP50,000.
The 1,000,000 new Ordinary Shares ("Shares") arising from the
exercise of these Warrants have been issued today, and application
has been made for them to be admitted to trading on AIM.
Following this transaction Dr Burton owns a total of 6,500,000
Shares.
Following the issue of the Shares arising from this exercise of
warrants, the enlarged issued share capital will be 182,946,002
Ordinary Shares. No Shares are held in treasury at the date of this
announcement. The total current voting rights in the Company will
therefore be 182,946,002.
For further information:
Management Resource Solutions plc
John Zorbas, Chairman +1 (0) 778 938-7631
Paul Brenton, CEO +61 (0) 401 072 464
Tim Jones, Finance Director +44 (0) 79 6644 2985
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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