Management Resource Solutions PLC Grant of Warrants and Options (9463O)

TIDMMRS

RNS Number : 9463O

Management Resource Solutions PLC

23 May 2018

Management Resource Solutions plc

EPIC: MRS

23 May 2018

Management Resource Solutions plc

("MRS" or "the Company")

Grant of Warrants and Options to directors and management

MRS announces the grant of Warrants and Options to subscribe for ordinary shares of EUR0.01 each in the Company as follows:

Warrants:

Paul Brenton (Director and Chief Executive Officer) -- 2,000,000 Warrants

Timothy Jones (Finance Director) -- 2,000,000 Warrants

The Warrants may be exercised in whole or in part at any time up to the fifth anniversary of grant at a price of 8p per Warrant, subject to the overriding condition that no Warrant may be exercised unless the quoted price of the Company's ordinary shares is at least 15p.

Options:

Jonathan McTaggart (Chief Operating Officer of MRS Services Group) -- 500,000 Options

Shaun Fraser (General Manager of Civil and Earthworks Division) -- 500,000 Options

The Options may be exercised in whole or in part at any time up to the seventh anniversary of grant at a price of 8p per Option, subject to the overriding condition that no Option may be exercised unless the quoted price of the Company's ordinary shares is at least 15p.

Related Party Transaction

The grant of the share options to the above directors constitutes a related party transaction under AIM Rule 13. The independent director, being John Zorbas, having consulted with Northland Capital Partners Limited, the Company's nominated adviser, considers that the grant of the warrants and options is fair and reasonable in so far as the Company's shareholders are concerned.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:

 
1    Details of the person discharging managerial responsibilities/person closely associated 
a)   Name                                                            Paul Brenton 
                                                                      Timothy Jones 
2    Reason for the notification 
a)   Position/status                                                 Chief Executive 
                                                                      Finance Director 
b)   Initial notification /Amendment                                 Initial Notification 
3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
      or auction monitor 
a)   Name                                                            Management Resource Solutions plc 
b)   Legal Entity Identifier 
                                                                                     213800Q2UE1H9OW1ND66 
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
      each type of transaction; (iii) each date; and (iv) each place where transactions have been 
      conducted 
a)   Description of the financial instrument, type of instrument     Warrants over ordinary shares of EUR0.01 each 
 
      Identification code                                             GB00B8BL4R23 
b)   Nature of the transaction                                       Grant of Warrants 
c)   Currency                                                        GBP 
d)   Price(s) and volume(s)                                          Price(s)                          Volume(s) 
                                                                     Exercise price is 8p              2,000,000 
                                                                                                        2,000,000 
 
e)   Aggregated information 
      - Aggregated volume                                              NA 
      - Price 
      - Aggregated total 
f)   Date of the transaction                                         23 May 2018 
g)   Place of the transaction                                        Outside a trading venue 
 
 
1    Details of the person discharging managerial responsibilities/person closely associated 
a)   Name                                                         Jonathan McTaggart 
                                                                   Shaun Fraser 
2    Reason for the notification 
a)   Position/status                                              Chief Operating Officer of MRS Services Group 
                                                                   General Manager of Civil and Earthworks Division 
b)   Initial notification /Amendment                              Initial Notification 
3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
      or auction monitor 
a)   Name                                                         Management Resource Solutions plc 
b)   Legal Entity Identifier 
                                                                                  213800Q2UE1H9OW1ND66 
4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
      each type of transaction; (iii) each date; and (iv) each place where transactions have been 
      conducted 
a)   Description of the financial instrument, type of instrument  Warrants over ordinary shares of EUR0.01 each 
      Identification code 
                                                                   GB00B8BL4R23 
b)   Nature of the transaction                                    Grant of Options 
c)   Currency                                                     GBP 
d)   Price(s) and volume(s)                                       Price(s)                              Volume(s) 
                                                                  Exercise price is 8p                  500,000 
                                                                                                         500,000 
 
e)   Aggregated information 
      - Aggregated volume                                           NA 
      - Price 
      - Aggregated total 
f)   Date of the transaction                                      23 May 2018 
g)   Place of the transaction                                     Outside a trading venue 
 

For further information:

Management Resource Solutions plc

John Zorbas, Chairman [phone]

Paul Brenton, CEO [phone]

Timothy Jones, Finance Director [phone]

Northland Capital Partners Limited [phone]

(Nominated Adviser and Joint Broker)

Tom Price

Dugald Carlean

Peterhouse Corporate Finance Limited [phone]

(Joint Broker)

Charles Goodfellow

Lucy Williams

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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(END) Dow Jones Newswires

May 23, 2018 02:01 ET (06:01 GMT)