Management Resource Solutions PLC Update on acquisition of the D&M Group (8662J)

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RNS Number : 8662J

Management Resource Solutions PLC

10 April 2015

10 April 2015 For immediate release

Management Resource Solutions PLC

("MRS" or the "Company")

Update on acquisition of the D&M Group

MRS is pleased to report that the final condition to the debt facility entered into on 4 March 2015 Halcyon Capital Management Pty Ltd ("Halcyon") which will be utilised to fund the acquisition of the D&M group of companies has now been satisfied.

The Company has encountered some practical difficulties in taking receipt of the funds from Halcyon and is now working towards a solution. Once the acquisition has been completed application will be made for the Company's ordinary shares to be readmitted to trading on AIM without delay.

A further announcement will be made as soon as practicable.

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For further information:

 
 Management Resource Solutions              c/o FTI +44 
  PLC                                   (0)20 3727 1000 
  Paul Morffew, Chief Executive 
  Timothy Jones, Finance Director 
 
 Northland Capital Partners Limited 
  (Nominated Adviser and Broker) 
  William Vandyk                         [phone] 
  David Hignell                                    1100 
 
   FTI Consulting 
   Edward Westropp 
   Oliver Winters                        [phone] 
   Adam Cubbage                                    1000 
 

About MRS

MRS provides project, quality, environmental and health & safety management services to some of the largest companies and projects across Australia, Oceania and Southeast Asia. MRS are sector specialists in the construction, engineering, civil engineering, petrochemical and coal seam gas sectors. MRS sources its contractors from a database of over 23,000 professionals around the globe, allowing it to react quickly and fully to client requirements.

Terms used but not defined in this announcement are defined in the Company's AIM admission document published today. The Admission Document can be found at http://www.mrsplc.net/.

This information is provided by RNS

The company news service from the London Stock Exchange

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