Parkmead makes approved offer for Lochard Energy
By BFN News | 08:02 AM | Thursday 23 May, 2013
Parkmead Group is to make a recommended all-share offer for Lochard Energy, valuing the latter company at about £14.5 million.
Under the terms of the acquisition, scheme shareholders would be entitled to receive 0.385 Parkmead consideration shares for each scheme share held.
The £14.5 million valuation was based on the May 22 closing price of Parkmead shares, namely 12.625p.
At 8:02am:
(LON:LHD) share price was -1.25p at 4.25p
(LON:PMG) PC Medics Group share price was -1p at 11.63p
Story provided by StockMarketWire.com