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Share Name Share Symbol Market Type Share ISIN Share Description
Management Resource Solutions Plc LSE:MRS London Ordinary Share GB00B8BL4R23 ORD EUR0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 2.30 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 52.30 4.57 2.29 1.0 5
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 2.30 GBX

Management Resource Solu... (MRS) Latest News

Management Resource Solu... News

Date Time Source Headline
05/3/202007:00UKREGAIM Cancellation - Management Resource Solutions Plc
04/3/202017:30UKREGFTSE Russell Management Resource Solutions
23/12/201914:51ALNCManagement Resource Eyes "Solvent Future" To Stave Off Liquidation
23/12/201911:21UKREGManagement Resource Solutions PLC Update
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DateSubject
05/12/2020
08:20
Management Resource Solu... Daily Update: Management Resource Solutions Plc is listed in the Support Services sector of the London Stock Exchange with ticker MRS. The last closing price for Management Resource Solu... was 2.30p.
Management Resource Solutions Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 223,346,002 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Management Resource Solutions Plc is £5,136,958.05.
13/9/2020
07:46
belgrano2: anyone ever hear what the drone outfit was sold by the auditors for...didnt mrs value it at 1.2m
06/3/2020
10:01
lord gnome: Clearly, there are plans afoot. They are reconstructing the capital of the company to wipe out existing PIs. There will be a 100 for 1 share consolidation and then the company will place new shares up to a nominal value of Euros 250,000. Given that each reconstructed / new share will have a nominal value of 0.001 Euros, they will be able to place up to 250 million new shares. Pre-emption rights are being disallowed. AGM date for all of this is 27 March.
27/9/2019
15:10
gnnmartin: So, "the Alerion investigation and valuation costs and the professional costs associated with the numerous EGM's ... amounted to some A$1.6m" I guess the squabbles and the consequential share price fall made it hard to refinance their debts, so that's another A1m that the EGMs might have cost us. The dissident shareholders may be right in saying the company is badly run. Unfortunately when the shareholders of a company fall out on this scale, it rarely has a happy ending.
06/9/2019
19:03
gnnmartin: The loan was a term loan for a year at 12% interest. Repayments were A$100,000 per month (plus interest perhaps) with the balance repayable at year end (ie May '20). So it is very surprising that administrators have been appointed. Does that mean the MRS could not even find $100,000 cash, or that there are other covenants that were not announced in May? Two requisitioned EGMs can't have helped. I expect that and the tumbling share price has encouraged creditors to seek payment and customers to avoid paying before completion. I'm not hopeful, but reserve judgement pending further information.
04/6/2019
20:03
gnnmartin: apfindley, is there a written statement backing up your post 905, or do you take it from the presentation on April 1? ISTM that the value of this company depends on how realistic the board's valuations are. I have no reason to suppose they are unrealistic, in which case the company is as King S. says, ludicrously undervalued. TW (I gather, I haven't paid to find out) thinks the company is bust. I assume he thinks that the equipment being bought and the shed being built will not get enough use. I don't see there is anything to do but wait. The company asked for the right to pay some bills by issuing shares, and that was twice refused. I'm against using the shares as currency while the share price is so low, so I'm ok with that refusal, but perhaps the company would not have used shares as currency anyhow after the share price slumped. I want the company to grow with free cash flow. Time will tell: I just hope the shareholder squabble doesn't sink the company, it certainly must be taking management time and making it harder to finance the debt.
15/5/2019
08:02
apfindley: Statement by members for circulation under Section 314 Companies Act 2006 Members' power to require circulation of statementsThe Board in it's circular to shareholders dated 3 May has made a number of assertions which relate directly to the motions proposed. This statement seeks to provide additional information to help shareholders make a balanced decision about the proposed resolutions. The proposed Directors seek your support to change the Board of MRS so that a new Board of Directors can run the business for the benefit of all shareholders, and not just for the select few who are friends or associates of John Zorbas and Leon Hogan. Under this Board, the share price has halved – during the time the current Board has been in charge the share price has roughly halved (from 6.9p on 29 March 2018, 3.6p at the close on 10 May). Investors have lost faith in the Board following questionable transactions – many investors have long been suspicious of the relationship between the Chairman John Zorbas and major shareholder Leon Hogan, with this concern coming to a head as a result of two questionable transactions, most notably the astonishing acquisition of a 7 month old startup with no operating experience from close business associates for £1.32m (A$2.2m). It has also emerged that 49% of the placing last July went to Leon Hogan, a Canadian/Cypriot consultancy which John Zorbas admits "assists me in my role as Chairman" and Chris Grove, a long time business associate of Hogan. These transactions have been the subject of many shareholder complaints to the FCA, AIM, the Takeover Panel and the Company's Nomad. The Board seems indifferent to investor concerns – despite the widespread concern about close relationships with the Board and the need for directors who are wholly independent of the current Board, and although no criticism of their qualities is intended, the two candidates proposed by the board are Paul Brenton's former boss and a former colleague of Tim Jones. The proposed Directors will work transparently for the benefit of all shareholders – all know MRS well, with Trevor Brown and Nigel Burton having been Directors who were both described in RNS announcements by the company as 'instrumental in the success of the 2017 placing and re?admission to AIM and having played an important role in the subsequent transformation of the Company'. Both left as a result of repeated improper interference in the business by Leon Hogan, with the support of John Zorbas. The Alerion acquisition – this acquisition, announced on 28 March, of the "unmanned aerial vehicle specialist" Alerion Consulting for £1.32m (A$2.2m) resulted in the share price dropping by 1/3 following widespread investor scepticism about the deal. Alerion is a startup founded in August 2018. The founder and former principal owner Elliott Talbott admitted at the investor presentation on 2 May that Alerion has never even completed a survey – MRS shareholders will now be bearing all the costs and risks of turning this startup with no operating history into the remarkable opportunity which the Board would like us to believe it will be. The CEO Paul Brenton also admitted that he "didn't look at any other drone operators" as alternatives to Alerion. Investors can only wonder why this business has been acquired at such a high price from Elliott Talbott and Chris Grove, who until recently were President and IT advisor of a business called Leinad which is based in the same office suite as and is believed to be partly owned by John Zorbas, and why Leon Hogan was paid £19,000 to introduce people who were already well known to him and the Chairman. Reports on conflicts of interest and Alerion valuation – the Board announced on 15 April that a report to assess any conflicts of interest and an independent valuation of Alerion would be conducted Why, if the Board is confident of its position, have neither of these been published in time to inform shareholders before the General Meeting? Why has the appointment of the firm engaged to undertake the independent valuation not been announced? How objective is the circular and how selective has it been in choosing what to present to shareholders? Shareholders can make their own assessment of the relevance and accuracy of the information selected by the MRS directors for the circular but one example will suffice. The circular highlights the remuneration paid to Trevor Brown and Nigel Burton during their time as Non-Executive Directors. Both received the same basic remuneration as the other Non-Executives, and both received agreed compensation payments on leaving. In addition, Nigel Burton charged fees, in accordance with his contract which was identical to those of the other Non-Executives, for additional work undertaken, amounting to over 100 days, including two weeks in Australia. Demand for a PollA Poll has been demanded by at least 5 members. This will ensure that the results of the voting are fully transparent and published for all shareholders to see. Recommendation to VOTE IN FAVOUR OF ALL RESOLUTIONS Shareholders have the opportunity to elect three independent NEDs to the MRS Board. Their primary focus will be to ensure that the business is run for the benefit of all shareholders. Given the concerns expressed by many shareholders, they will also:1. Uncover the truth about the events of the past year and make the details public for the benefit of all shareholders and seek redress where appropriate.2. Review the Alerion deal to cancel it or reduce the price as appropriate.3. Cooperate fully with any investigation of alleged wrong-doing by the current Board including by the FCA, AIM, the Takeover Panel and the Company's Nomad, all of which have received many complaints from shareholders. The Board has not provided a credible argument why this should not happen. Shareholders will form their own conclusions as to why the Board has failed to provide the independent report on conflicts of interest and the independent valuation of Alerion in time to inform shareholders before they vote in the General Meeting.
15/5/2019
08:01
johnyee 7: Here's the statement that's supposed to be on the website but nobody can find. Statement by members for circulation under Section 314 Companies Act 2006 Members’ power to require circulation of statements The Board in it’s circular to shareholders dated 3 May has made a number of assertions which relate directly to the motions proposed. This statement seeks to provide additional information to help shareholders make a balanced decision about the proposed resolutions. The proposed Directors seek your support to change the Board of MRS so that a new Board of Directors can run the business for the benefit of all shareholders, and not just for the select few who are friends or associates of John Zorbas and Leon Hogan. Under this Board, the share price has halved – during the time the current Board has been in charge the share price has roughly halved (from 6.9p on 29 March 2018, 3.6p at the close on 10 May). Investors have lost faith in the Board following questionable transactions – many investors have long been suspicious of the relationship between the Chairman John Zorbas and major shareholder Leon Hogan, with this concern coming to a head as a result of two questionable transactions, most notably the astonishing acquisition of a 7 month old startup with no operating experience from close business associates for £1.32m (A$2.2m). It has also emerged that 49% of the placing last July went to Leon Hogan, a Canadian/Cypriot consultancy which John Zorbas admits “assists me in my role as Chairman” and Chris Grove, a long time business associate of Hogan. These transactions have been the subject of many shareholder complaints to the FCA, AIM, the Takeover Panel and the Company’s Nomad. The Board seems indifferent to investor concerns – despite the widespread concern about close relationships with the Board and the need for directors who are wholly independent of the current Board, and although no criticism of their qualities is intended, the two candidates proposed by the board are Paul Brenton’s former boss and a former colleague of Tim Jones. The proposed Directors will work transparently for the benefit of all shareholders – all know MRS well, with Trevor Brown and Nigel Burton having been Directors who were both described in RNS announcements by the company as ‘instrumental in the success of the 2017 placing and re‐admission to AIM and having played an important role in the subsequent transformation of the Company’. Both left as a result of repeated improper interference in the business by Leon Hogan, with the support of John Zorbas. The Alerion acquisition – this acquisition, announced on 28 March, of the “unmanned aerial vehicle specialist” Alerion Consulting for £1.32m (A$2.2m) resulted in the share price dropping by 1/3 following widespread investor scepticism about the deal. Alerion is a startup founded in August 2018. The founder and former principal owner Elliott Talbott admitted at the investor presentation on 2 May that Alerion has never even completed a survey – MRS shareholders will now be bearing all the costs and risks of turning this startup with no operating history into the remarkable opportunity which the Board would like us to believe it will be. The CEO Paul Brenton also admitted that he “didn’t look at any other drone operators” as alternatives to Alerion. Investors can only wonder why this business has been acquired at such a high price from Elliott Talbott and Chris Grove, who until recently were President and IT advisor of a business called Leinad which is based in the same office suite as and is believed to be partly owned by John Zorbas, and why Leon Hogan was paid £19,000 to introduce people who were already well known to him and the Chairman. Reports on conflicts of interest and Alerion valuation – the Board announced on 15 April that a report to assess any conflicts of interest and an independent valuation of Alerion would be conducted Why, if the Board is confident of its position, have neither of these been published in time to inform shareholders before the General Meeting? Why has the appointment of the firm engaged to undertake the independent valuation not been announced? How objective is the circular and how selective has it been in choosing what to present to shareholders? Shareholders can make their own assessment of the relevance and accuracy of the information selected by the MRS directors for the circular but one example will suffice. The circular highlights the remuneration paid to Trevor Brown and Nigel Burton during their time as Non-Executive Directors. Both received the same basic remuneration as the other Non-Executives, and both received agreed compensation payments on leaving. In addition, Nigel Burton charged fees, in accordance with his contract which was identical to those of the other Non-Executives, for additional work undertaken, amounting to over 100 days, including two weeks in Australia. Demand for a Poll A Poll has been demanded by at least 5 members. This will ensure that the results of the voting are fully transparent and published for all shareholders to see. Recommendation to VOTE IN FAVOUR OF ALL RESOLUTIONS Shareholders have the opportunity to elect three independent NEDs to the MRS Board. Their primary focus will be to ensure that the business is run for the benefit of all shareholders. Given the concerns expressed by many shareholders, they will also: 1. Uncover the truth about the events of the past year and make the details public for the benefit of all shareholders and seek redress where appropriate. 2. Review the Alerion deal to cancel it or reduce the price as appropriate. 3. Cooperate fully with any investigation of alleged wrong-doing by the current Board including by the FCA, AIM, the Takeover Panel and the Company’s Nomad, all of which have received many complaints from shareholders. The Board has not provided a credible argument why this should not happen. Shareholders will form their own conclusions as to why the Board has failed to provide the independent report on conflicts of interest and the independent valuation of Alerion in time to inform shareholders before they vote in the General Meeting.
16/4/2019
06:18
12bn: TIDMMRS RNS Number : 3610U Management Resource Solutions PLC 28 March 2019 28 March 2019 Management Resource Solutions PLC ("MRS" or the "Group") Acquisition of Alerion Consulting Ltd MRS strengthens service offering with acquisition of unmanned aerial vehicle specialist Transaction Highlights -- Acquisition complements MRS' civil operations across both existing divisions -- Provides Group with competitive advantage through cutting edge UAV technology -- Group expected to benefit from cost savings as a result of more efficient aerial mapping and surveying capabilities -- Potential to benefit from new revenue streams Management Resource Solutions Plc ("MRS"), a leading Maintenance, Fabrication, Civil and Earthworks company, is pleased to announce the acquisition of Alerion Consulting Ltd ("Alerion") from its founder Elliott Talbott and others for a consideration of GBP1,320,000 to be satisfied by the issue of 26.4 million ordinary shares of MRS at an agreed price of 5p per share, credited as fully paid (the "Consideration Shares").
15/4/2019
08:49
12bn: Lanarkian,here are my last ramps on the 28th March,then I sold and stopped posting,go back and check for yourself.////////12bn28 Mar '19 - 16:47 - 675 of 786 Edit 0 1 0 It is also an exercise in increasing income. MRS management want to grow the company fast imo and they don't care about a bit of dilution.///////In addition to the surveying services offered, the Aerial Cinematics intellectual property will allow MRS to add blast mining mapping, planning and site safety to its services using a combination of UAV and a propriety payload including precision ground marking, LiDAR mapping and thermography sensors. The directors consider that the availability of this facility will considerably enhance the efficiency and growth potential of MRS's services. Several other new revenue streams will also be opened up as a result of the UAV's modular payload system including forestry, waterway, rail, highway, land clearance mapping, and power line development and maintenance. 12bn28 Mar '19 - 16:50 - 676 of 786 Edit 0 0 0 MRS wants to grow fast and doesn't care about short term price fluctuations of its sp,I just hope that someone comes in and makes a 10p a share bid for the whole company. apfindley28 Mar '19 - 16:52 - 677 of 786 0 0 0 Cool. Does it also do the same as the drones in Prometheus.? 12bn28 Mar '19 - 16:53 - 678 of 786 Edit 0 0 0 Management Res (MRS) Limited Realtime Upgrade BuySell Name Symbol Market Type ISIN Description Management Res LSE:MRS London Stock Exchange Ordinary Share GB00B8BL4R23 ORD EUR0.01 Change % Chg Cur Bid Offer High Low Open Volume Chg Time RN NRN -1.15 -24.5% 3.55 3.50 3.60 4.75 3.55 4.70 6,583,034 16:24:58 1 4 Sector Turnover (m) Profit (m) EPS - Basic PE ratio Mkt Cap (m) SUPPORT SERVICES 52.3 4.1 2.286 1.546 7.0 Type Size Price Time Units O 208,168 GBX 3.6 Closed GBX////// P/e of 1.54,very low.
28/3/2019
15:35
12bn: Management Resource Solutions PLC 28 March 2019 28 March 2019 Management Resource Solutions PLC ("MRS" or the "Group") Acquisition of Alerion Consulting Ltd MRS strengthens service offering with acquisition of unmanned aerial vehicle specialist Transaction Highlights -- Acquisition complements MRS' civil operations across both existing divisions -- Provides Group with competitive advantage through cutting edge UAV technology -- Group expected to benefit from cost savings as a result of more efficient aerial mapping and surveying capabilities -- Potential to benefit from new revenue streams Management Resource Solutions Plc ("MRS"), a leading Maintenance, Fabrication, Civil and Earthworks company, is pleased to announce the acquisition of Alerion Consulting Ltd ("Alerion") from its founder Elliott Talbott and others for a consideration of GBP1,320,000 to be satisfied by the issue of 26.4 million ordinary shares of MRS at an agreed price of 5p per share, credited as fully paid (the "Consideration Shares"). The acquisition will be made by Aerial Survey Solutions Pty Ltd ("Aerial") a newly formed wholly-owned subsidiary of MRS incorporated in Australia. Application will be made for the Consideration Shares to be admitted to trading on AIM at 8.00 a.m. on or around 4 April 2019. Alerion owns the intellectual property and other assets relating to unmanned aerial systems developed under the program name "Aerial Cinematics." Aerial Cinematics is an Unmanned Aerial Systems ("UAS") based photography, mapping and surveillance systems design project. The program is focused on the building and deploying of modular UAS payloads and flight pattern optimisation on fixed wing "transition" (vertical take-off and landing) Unmanned Aerial Vehicles ("UAV"). Included in the acquisition are full ownership rights of all Aerial Cinematics IP and a full suite of ground control systems and payloads. Alerion was incorporated on 3 August 2018 and, apart from acquiring the assets relating to Aerial Cinematics, has not traded, whilst it has been in the technology development phase. MRS has secured the company and its IP before its commercial deployment. Alerion made a loss before tax of GBP88,800 during the period from 3 August 2018 to 12 March 2019 and had tangible assets of GBP47,650, according to unaudited management information. Complementary to the civil operations in both MRS' divisions, Aerial Cinematics will provide precision aerial mapping of open pit mines and earthworks including volumetric calculations, railway maintenance, water erosion mapping and terrain modelling with full geo-referencing. This will be carried out using Aerial Cinematics' innovative build out of a transitional UAV, LiDAR (Light Detection and Ranging) scanners/photogrammetry system and fully automated and optimised flight paths that form the full UAS. In a single 90 minute flight, the Aerial Cinematics UAS is able to survey an area that would normally take a full team of ground-based surveyors approximately four days to complete, returning data either as a live feed or fully processed the next day. In addition to these new potential revenue streams, Aerial Cinematics will also save MRS and its Bachmann subsidiary approximately $240,000 AUD in current third party fees and deliver same day information on demand, as opposed to the 30 day lead time provided by the once a month external vendor it currently contracts. In addition to the surveying services offered, the Aerial Cinematics intellectual property will allow MRS to add blast mining mapping, planning and site safety to its services using a combination of UAV and a propriety payload including precision ground marking, LiDAR mapping and thermography sensors. The directors consider that the availability of this facility will considerably enhance the efficiency and growth potential of MRS's services. Several other new revenue streams will also be opened up as a result of the UAV's modular payload system including forestry, waterway, rail, highway, land clearance mapping, and power line development and maintenance. MRS is also pleased to announce that Aerial has secured the services of Elliott Talbott, Director of Alerion, under the terms of a service agreement for an initial period of one year and then subject to six months' notice. In his new role, Elliott will lead the build-up and deployment of MRS' new UAV based services and brings with him seventeen years of aerospace experience. He was recently responsible for the management of Facebook's ground-breaking multi-million dollar project Aquila, a long endurance fixed wing UAV. As a senior manager at Facebook's Connectivity Labs, Elliott was also responsible for the facility build, aircraft production, structural testing, avionic and electrical build and integration, export and shipping and flight test of this bleeding edge solar UAV. The vendors of Alerion have agreed that they will not dispose of any Consideration Shares for a period of six months following completion of the Acquisition and that thereafter they will comply with the terms of the MRS Share Dealing Code. John Zorbas, Chairman of MRS, commented: "We are very pleased to have acquired Alerion which is an exciting business that will complement the service offering of the MRS Group, further enhancing the industry-leading services we offer to our customers. The acquisition demonstrates the Group's business model of acquiring complementary businesses while securing cutting edge, technology-enhancing products, giving MRS a significant advantage in its field. "MRS would also like to welcome Elliott Talbott to the Company and is extremely pleased to have engaged someone with such extensive experience in program management and UAV fields. This is an exciting time in the Group's development and should now demonstrate the Company's ability to secure the expertise and services of key influential figures in their field, as we look forward to further expanding the Company's portfolio." ENDS
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