Management Resource Solutions plc announced that it has completed the first stage of its debt refinancing. The new facility replaces the existing AUD 1.5 million working capital facility that was provided by the vendors of Bachmann Plant Hire Pty Ltd. ("BPH") and the AUD 1.7 million BPH Rent to Buy facility. The Group has now paid out all the BPH acquisition vendor liabilities and all 19 pieces of equipment that were part of the "rent to buy" facility are now fully owned by BPH. The new AUD 3.2 million debt facility (the "New Facility"), provided by Hermes Capital, is a one-year term loan with an interest rate of 12% per annum. Principal repayments on the New Facility of AUD 100,000 will be made monthly for the duration of the term loan with the balance being repayable at the end of the one-year period. The New Facility is expected to generate net monthly cashflow savings to the Company on principal and interest payments of approximately AUD 70,000. Greg Bachmann (the vendor of BPH) will continue to assist BPH on a part time basis whilst transitioning into retirement.