AIM Sch 1 Update - Management Resource Solutions Plc (6665N)
May 19 2015 - 9:45AM
UK Regulatory
TIDMMRS
RNS Number : 6665N
AIM
19 May 2015
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION
IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM
RULES")
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COMPANY NAME:
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Management Resource Solutions Plc ("MRS")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES) :
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Registered Address: Trading Address:
1 Arbrook Lane Suite 30402,
Esher Tower 3, Level 4
Surrey 9 Lawson Street
KT10 9EG Southport
QLG 4215
Australia
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COUNTRY OF INCORPORATION:
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England
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
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www.mrsplc.net
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE
TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
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MRS is a human capital resource company formed in 2007 by its
chief executive, Paul Morffew, that offers a range of consulting
services to the engineering, mining, petrochemical, energy,
civil engineering and transportation industries.
MRS provides consulting services and contract personnel to
add value to client projects by optimising business focus and
efficiency whilst reducing costs. The majority of MRS's current
clients are in the coal seam gas industry in Australia and
South East Asia and MRS specialises in project management,
quality management, environmental management and health & safety
management standards. MRS does not provide mine management
or other commoditised services, operating only in specialist,
consistently profitable areas.
MRS is proposing to acquire the D&M Group of companies ("D&M")
for a cash consideration of approximately A$6.7 million. The
acquisition of D&M is classified as a reverse transaction under
the AIM Rules for Companies and accordingly requires the approval
of shareholders in general meeting.
D&M is a family run business established in 1972 by its Chairman,
Doug Phillips, and based in Queensland, Australia. The D&M
Group operates four businesses, being D&M Plant Hire, Wrights
Plant Hire, DMR and Titan Manufacturing, in three divisions,
wet hire, dry hire and manufacturing. The D&M Group has a wide
base of corporate and public sector clients in oil & gas, mining,
civil engineering, infrastructure and construction as well
as local government, many of whom have brought continued business
over a number years, with some clients having renewed contracts
with the D&M Group for three decades.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS
AS TO TRANSFER OF THE SECURITIES (i.e. where known, number
and type of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury
shares):
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32,816,682 ordinary shares of EUR0.01 each
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED
MARKET CAPITALISATION ON ADMISSION:
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Nil raised, anticipated market capitalisation of GBP5 million,
based on the closing mid-market price of 15.25 pence per share
on 4 March 2015
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
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63.3%
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH
THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES
(INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:
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None
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS
(underlining the first name by which each is known or including
any other name by which each is known):
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Paul Anthony Morffew, Chief Executive
Murray Howard d'Almeida, Non-executive Chairman
Timothy Stephen Jones, Finance Director
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED
AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER
ADMISSION (underlining the first name by which each is known
or including any other name by which each is known):
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Before and Following Admission:
Paul Morffew 46.2%
(held as to 46% in the name of SCOPN Pty Ltd, a company controlled
by Paul Morffew and his wife, 0.2% held in his own name and
0.00005% held in the name of his wife)
Daniela Athan 16.6%
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
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none
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION
DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
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(i) 30 June
(ii) 31 December 2014 (existing business) & 30 June 2014 (reverse
acquisition target)
(iii) 31 December 2015, 31 March 2016, 31 December 2016
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EXPECTED ADMISSION DATE:
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Early July 2015
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NAME AND ADDRESS OF NOMINATED ADVISER:
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Northland Capital Partners Limited
131 Finsbury Pavement
London EC2A 1NT
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NAME AND ADDRESS OF BROKER:
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Northland Capital Partners Limited
131 Finsbury Pavement
London EC2A 1NT
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE
(POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
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The AIM Admission Document containing full details of MRS and
the admission of MRS' securities will be available on the Company's
website, www.mrsplc.net and from the offices of Northland Capital
Partners Limited, 131 Finsbury Pavement, London EC2A 1NT
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DATE OF NOTIFICATION:
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19 May 2015
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NEW / UPDATE:
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UPDATE
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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