Management Resource Solutions PLC Acquisition of Engineering Maintenance Facility (4773N)
May 09 2018 - 2:14AM
UK Regulatory
TIDMMRS
RNS Number : 4773N
Management Resource Solutions PLC
09 May 2018
Management Resource Solutions plc
EPIC: MRS
9 May 2018
Management Resource Solutions plc
("MRS" or "the Company")
Acquisition of MRS Services Group Engineering Maintenance
Facility
The Board is pleased to announce the acquisition of 39-43 Thomas
Mitchell Drive in Muswellbrook ("The Engineering Maintenance
Facility", or "Facility").
The Engineering Maintenance Facility is the operational base for
MRS Services Group in the Hunter Valley.
The Facility was purchased for $3.0m which was satisfied in cash
on completion. The Facility was previously rented by MRS Services
Group from the Administrators of TMD Investments Pty Ltd. The
facility, while currently operational, requires further works to
maximise its full potential. The estimated cost for the future
works is approximately $2.0m. New finance has been arranged to
cover both The Facility acquisition and future works.
The acquisition of The Facility further demonstrates MRS's
commitment to investing locally and continued support for
customers.
The Facility is unique in its service offering to customers.
Erected on the site are two freestanding warehouses, the internal
clearance is up to 18 metres, allowing the 150t gantry crane to
access all areas.
The Facility is located on Thomas Mitchell Drive in the heart of
the Hunter Valley coal operations.
Paul Brenton, Chief Executive Office of MRS said:
"The acquisition of The Facility is very exciting for MRS
Services Group. We will now be able to complete the unfinished
works on The Facility, and maximise its unique service offering to
our clients. I'm pleased that we now have complete control of this
critical asset, and this sends a clear message to all stakeholders
that the Company is stable and investing in the local community and
committed to providing the most efficient and safe servicing for
our customers."
Technical Data on the Engineering Maintenance Facility
Building Area
Building A 1,737sq m
Building B 7,080sq m
Total 8,817sq m
Eve Height 16m
Centre Height 18m
Site Area
14,000sq m
Crane Capacity
Mobile Gantry Crane with twin 75T lifting hooks 150T Maximum
capacity
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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