Management Resource Solutions PLC Company Update (4791M)
16 Settembre 2019 - 2:37PM
UK Regulatory
TIDMMRS
RNS Number : 4791M
Management Resource Solutions PLC
16 September 2019
16 September 2019
Management Resource Solutions plc
("MRS" the "Company" or the "Group")
Company Update
The board of MRS is pleased to advise that it is in advanced
negotiations to refinance the debt secured over the Company's
principle operating subsidiaries (as set out in the RNS update of 6
September 2019, "the Subsidiaries"), with Remagen Capital.
The Board expects the refinance transaction to take place in the
next few days and all parties are working towards this end.
At the first meeting of creditors of the Subsidiaries, held
today, the Voluntary Administrators provided a general update and
confirmed that the Group is trading and it is business as usual.
They confirmed that they have called for recapitalisation
proposals.
If the re-financing is successful, the Board will then seek to
agree a Deed of Company Arrangement under Australian law with the
Voluntary Administrator, by which control of the Subsidiaries would
be returned to the Company following a vote at a second creditors
meeting which typically takes place in the next 3-4 weeks.
ENDS
For further information:
Management Resource Solutions plc via FTI Consulting
Paul Brenton, CEO Tel: +44 (0) 20
Tim Jones, Finance Director 3727 1000
Arden Partners plc (NOMAD & Broker) Tel: +44 (0) 20
Tom Price/Paul Shackleton 7614 5900
FTI Consulting (Financial PR) Tel: +44 (0) 20
Alex Beagley 3727 1000
James Styles
Sam Macpherson
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 rns@lseg.com or visit www.rns.com.
END
UPDLLFVFAEIRLIA
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