Printer Friendly

Management Res Sol Acquires Alerion Consulting.

M2 EQUITYBITES-March 29, 2019-Management Res Sol Acquires Alerion Consulting


29 March 2019 - UK-based project management and services company Management Resource Solutions plc (LSE: MRS) has agreed to acquire Alerion Consulting Ltd from its founder Elliott Talbott and others for a consideration of GBP 1.32m (USD 1.72m), the company said.

The consideration is to be satisfied by the issue of 26.4m ordinary shares of MRS at an agreed price of 5p per share, credited as fully paid.

The acquisition will be made by Aerial Survey Solutions Pty Ltd 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 based photography, mapping and surveillance systems design project.

The programme 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.

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 GBP 88,800 during the period from 3 August 2018 to 12 March 2019 and had tangible assets of GBP 47,650, 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.

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.

Management Resource Solutions plc, 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.

((Comments on this story may be sent to
COPYRIGHT 2019 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Mar 29, 2019
Previous Article:One Horizon Group to Acquire Production Company Redspots Creative.
Next Article:Greencoat Renewables Acquires Further Stake in Cloosh Valley.

Terms of use | Privacy policy | Copyright © 2022 Farlex, Inc. | Feedback | For webmasters |