- Management Resource Solutions said an independent valuation of Alerion Consulting indicated that it had not over-paid for the business.

Leadenhall Services determined the fair market value of Alerion at the acquisition date in a range of A$2.2m to A$3.0m.

Management Resource Solutions had paid in A$2.2m worth of its shares, based on their market price at the time.

'We always considered Alerion to be a value accretive addition to our business, enhancing the services we are able to provide to our customers and giving us a competitive advantage,' chief executive Paul Brenton said.

'At the same time, we recognised that some shareholders had concerns regarding the consideration that was paid by the company in the transaction.'

'Having commissioned Leadenhall Services to undertake an independent valuation report, we hope its conclusions will now allow us to move forward and focus on building a great business.'

At 1:29pm: [LON:MRS] Management Resource Solutions Plc share price was -0.1p at 2.55p

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