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As far as I am aware in simple terms you need 2 separate things to make any release legit : 1. The MCPS mechanical license 2. The permission from the present owner of the recorded work(s).
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Timbo has answered the MCPS query, I’ll have another look. Usually you’d acknowledge the master owner on the label too. I can’t see that anywhere
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https://www.discogs.com/release/16014538-Mixed-Feelings-Sha-La-La
If a record indicates MCPS on the label is it a legal re-issue?
Note
The Mechanical-Copyright Protection Society (MCPS) is an organisation that collects royalties and protects rights for music publisher, song writer and composer members, when their music is reproduced, in any format – including online, physical and synchronised.
The MCPS collects and pays royalties to members when their music is:
copied and used in physical products (such as records, CDs and DVDs)
streamed or downloaded on services such as Spotify, Apple Music, Netflix and Amazon
synchronised into audio-visual entertainment including TV, film, video games and advertising
on radio.
The MPA Group owns and operates MCPS on behalf of over 30,000 music publisher, song writer and composer members.