Business
Acquisition
Acquisition.
About this update from Parkmead Group Plc
[{"type":"text","content":"\n RNS Number : 5802A Parkmead Group (The) PLC 12 October 2009 \n \nNOT FOR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR THE UNITED STATES OR ANY OTHER JURISDICTION IF TO DO SO WOULD CONSTITUTE A VIOLATION OF THE LAWS OF SUCH JURISDICTION\n\nTHE PARKMEAD GROUP PLC \n(\"Parkmead\" or the \"Company\")\n\nAcquisition of Aupec Limited\n\nWaiver from Provisions of Rule 9 of the Takeover Code\nCapital Reorganisation\n\nHighlights \n\n\n\nAcquisition of Aupec through the issue of 235.3 million New Ordinary Shares and £1.0 million in cash;\n\n\n\n\n\nAupec is a respected global authority in energy sector economics, valuation and benchmarking and has been providing economic consultancy services to the oil and gas sector for over 20 years;\n\n\n\n\n\nThe Directors believe that the Acquisition will expedite the Company's stated strategy to be a leading small cap oil and gas investment and advisory house;\n\n\n\n\n\nThe Directors believe that there are significant synergies that the Enlarged Group can exploit; and\n\n\n\n\n\nEach issued Existing Ordinary Share to be sub-divided and re-designated as one New Ordinary Share (having a nominal value of 0.1 pence each) and one Deferred Share (having a nominal value of 4.9 pence).\n\n\n\nNiall Doran, Chief Executive Officer of Parkmead Group plc, commented: \n\n\"The acquisition of Aupec is an important step in fulfilling the Company's strategy to become a leading small cap oil and gas investment and advisory house.\n\nThe combination gives us a stronger platform and more diverse base upon which to build Parkmead's revenues and income. It further strengthens the high level financial, government, major energy company and technical relationships that we have in the oil and gas industry and comes at a time when demand for energy advisory and consultancy services has increased.\"\n\nFor further information please contact:\n\n\n\n\n\nThe Parkmead Group Plc:\nNiall Doran CEO\nGordon Ashworth CFO\n020 7494 5770\n\n\n\n\n\nCharles Stanley Securities\nNominated Adviser and Broker\nRick Thompson / Ben Johnston / Carl Holmes\n020 7149 6000\n\n\n\n\n\nMadano Partnership \nFinancial Public Relations\nMathe...