Parkmead Group provides result of General Meeting

Thursday, January 10, 2013
  • Application has been made for the 157,755,101 Placing Shares and Conversion Shares to be admitted to trading on AIM and Admission will take place at 08.00 a.m. on 11 January 2013.

The Board of Parkmead announce that at the Company's General Meeting, held earlier today, all resolutions proposed were passed unanimously by shareholders.

The resolutions that were passed were specifically to authorise the issue of the 157,755,101 new Ordinary Shares being issued pursuant to the Placing and the issue of the Conversion Shares, announced on 18 December 2012, providing Parkmead with £19.925 million of financing.

Application has been made for the 157,755,101 Placing Shares and Conversion Shares to be admitted to trading on AIM and Admission will take place at 08.00 a.m. on 11 January 2013. The Placing Shares and the Conversion Shares will rank pari passu with the Existing Ordinary Shares of the Company. Following Admission, the total issued share capital of the Company will be 919,394,108 Ordinary Shares.

Tom Cross, Executive Chairman of Parkmead, commented:

"Parkmead is delighted with the support that the Company has received from a number of high quality institutional investors in this fundraising. This important new financing has placed Parkmead in a very strong position and enables it to exploit the significant opportunities that exist within its current asset portfolio. The Board is looking forward to continuing the progress made over the last 12 months and considers the outlook for 2013 to be very positive."

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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