MCS Services Ltd Settles Claim from Former Security Business Sale
Key points
- MCS Services Ltd sold its former security business in June 2024.
- A claim was filed by the buyer regarding underpayments.
- MCS agreed to a settlement without admitting liability.
- Settlement amount is $495,000 to be paid within 10 business days.
- Details to be included in the FY26 Annual Report.
Full summary
MCS Services Ltd (MCS or the Company) has settled a claim from the sale of its former security business, MCS Security Group Pty Ltd, to Vibrant Services Pty Ltd. The claim was related to alleged underpayments by the buyer, now known as Vibrant MCS Pty Ltd, to its employees. MCS disputed the claim and did not admit liability. The settlement, agreed upon on a no admissions basis, requires MCS to pay $495,000 to Vibrant Services Pty Ltd for additional wages payments to employees. The settlement sum will be paid within 10 business days of the Deed of Settlement and Release dated 28 August 2026. Further details will be provided in MCS's audited FY26 Annual Report, due by the end of September 2026.
Guidance
MCS Services Ltd will pay the settlement sum within 10 business days.
Outlook
The settlement will be detailed in the FY26 Annual Report, due by the end of September 2026.
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