Business
Investment
Investment.
About this update from Parkmead Group Plc
[{"type":"text","content":"\n Parkmead Group (The) PLC\n30 November 2007\n\nFriday 30 November 2007\n\n\n THE PARKMEAD GROUP PLC ('Parkmead' or the 'Group')\n\n Acquisition of 0.84 % stake in Reservoir Exploration Technology ASA ('RXT')\n\nThe Parkmead Group plc (PMG) today announces that it has acquired a 0.84%\n(215,400 shares) of the listed share capital of RXT. RXT is a marine\ngeophysical company specialising in multi component seismic sea-floor\nacquisition and is listed on the Oslo stock exchange. The holding, which cost\n£1.1 million, represents a strategic stake and Parkmead intends to make further\ninvestments in to oil field services sector companies in due course.\n\nCommenting on the investment, Niall Doran, Chief Executive of the Group, said:\n\n'We are pleased to have made our first wholly energy sector focused investment.\nThe Group is actively evaluating a number investment opportunities: in the oil\nfield services sector, and; in exploration and production in the Middle East\nand Africa'\n\nFor further information:\n\nThe Parkmead Group plc 020 7494 5770\nNiall Doran CEO\nGordon Ashworth, CFO\n\nMadano Partnership 0207 593 4000\nMatthew Moth\n\nCharles Stanley Securities (Nominated Adviser) 0207 149 6482\nRick Thompson / Henry Fitzgerald-O'Connor\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1548,"tagName":"div"}]