On 25th May 2012 the terms of a recommended cash
offer, with a loan note alternative, by MMGG Acquisition PLC
("MMGG") for the entire issued and to be issued share capital
of Morson Group PLC ("Morson") were announced. The
Independent Director (namely Ian Knight), who has received
advice from W H Ireland Limited, considers the terms of the
cash offer to be fair and reasonable.
The shareholders and directors of MMGG are the management
team of Morson, namely Gerry Mason (Chairman), Ged Mason
(Group Chief Executive), Paul Gilmour (Group Finance
Director) and Kevin Gorton (Group Managing Director). The
full announcement will go live on Monday 28th
May 2012 and can be accessed at www.mmgg.co.uksubject to acceptance of the terms and
conditions of the microsite.
Please note that the Offer is in respect of the shares in
Morson and should not impact the trading activities of Morson
and its subsidiaries including, Morson Human Resources
Limited, Morson Wynnwith Limited and Morson Projects Limited.
It is stated in the announcement that "The MMGG Board
attaches great importance to the skills and experience of the
management and employees of Morson. The MMGG Board has
provided assurances to the Independent Director that, upon
the Offer becoming or being declared unconditional in all
respects, the existing employment rights of all employees of
Morson will be fully safeguarded.
No change is expected to the current locations of the Group's
places of business."
Client, contractor and staff contracts will continue
unaffected by the offer and it is very much "business as
usual."
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