18th May 2015 09:59
LONDON (Alliance News) - Parkmead Group PLC Monday said it has raised GBP13.4 million through the placing of 11.2 million shares at 120 pence each, and said three directors will buy some of the new shares.
The UK and Netherlands-focused oil and gas group said the proceeds will be used for mergers and acquisitions and is aware of a number of potential opportunities that will complement its existing portfolio.
Chairman Tom Cross will buy 83,333 shares, giving him a total holding of 18.9 million shares, or 19.1% of the company's issued share capital.
Finance Director Ryan Stroulger will buy 20,833 shares, giving him a total holding of 158,557 shares, or 0.2% of the company's issued share capital.
Philip Dayer, a non-executive director, will buy 33,333 shares, giving him a total holding of 143,960 shares, or 0.2% of the company's issued share capital.
Shares in Parkmead were trading up 3.3% at 125.81p Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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