Source - LSE Regulatory
RNS Number : 2889X
Parkmead Group (The) PLC
30 April 2021
 

30 April 2021

 

The Parkmead Group plc

("Parkmead", "the Company" or "the Group")

 

Directorate Change

 

Parkmead, the independent energy group focused on growth through gas, oil and renewable energy projects, is pleased to announce the appointment of Robert Finlay as an Independent Non-Executive Director, with his appointment to become effective on 1 May 2021. Robert will replace Philip Dayer who will retire from the Board of Directors on 30 April 2021 after having served Parkmead as a Non-Executive Director since 2010.

 

Mr Finlay has over 30 years of experience as a corporate adviser to a range of companies quoted on the London Stock Exchange AIM and Main Market, including a number of energy companies. He is currently a Director in the corporate advisory team at Shore Capital. His earlier career included roles as Head of Corporate at Stockdale Securities and Head of Corporate Finance at Canaccord Genuity.

The Board would like to express its thanks to Philip Dayer, for his invaluable counsel and guidance as a Non-Executive Director. In line with UK governance principles, Philip retires from the Board of Directors with effect from 30 April 2021, having given excellent service to the Company. Mr Finlay will take up his appointment on 1 May 2021. Mr Finlay will Chair the Audit Committee and be a member of the Remuneration Committee.

 

Given the continued renewal of expertise and independent advice outlined above, Parkmead is well positioned for future growth with a strong and balanced portfolio of assets and an experienced team which is focused on delivery.

Tom Cross, Executive Chairman, commented:

"Robert brings a wealth of experience to the Parkmead Board of Directors at this important stage in the Group's development. His extensive corporate advisory knowledge will be valuable to Parkmead as we grow our portfolio and advance key gas, oil and renewable energy projects.

On behalf of everyone at Parkmead, I would like to thank Philip for his outstanding contribution to the Company and we wish him all the very best for the future".

The following information is disclosed pursuant to AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies:

Robert James Dundas Finlay, aged 56 years, was previously (within the past five years) a director of the following companies:

·     Stockdale Securities Limited

·     Kairos Community Trust

 

There is no further information to be disclosed pursuant to AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.

 

Enquiries:

 

The Parkmead Group plc

+44 (0) 1224 622200

Tom Cross (Executive Chairman)  

 

Ryan Stroulger (Chief Financial Officer)  

 

 

 

finnCap Ltd  (NOMAD and Broker to Parkmead)

+44 (0) 20 7220 0500

Marc Milmo / Emily Watts  - Corporate Finance

 

Andrew Burdis / Barney Hayward - ECM

 

 

 

Notes to Editors:

 

1.  Parkmead is an independent, UK and Netherlands focused energy group that is listed on AIM on the London Stock Exchange (symbol: PMG). Parkmead is focused on growth in the oil and gas upstream and renewable energy sectors, targeting transactions at both asset and corporate level.

2.  In January 2018, Parkmead significantly increased its equity in the Greater Perth Area oil hub project from 60.05% to 100%. The Group also announced that it had signed an agreement with Nexen Petroleum, a subsidiary of China National Oil Corporation (CNOOC), to conduct a detailed engineering study in relation to the potential subsea tieback of the Greater Perth Area project to the Scott platform and associated facilities in the UK Central North Sea.

3.  In May 2018, Parkmead was provisionally awarded nine offshore blocks and part blocks spanning five new licences in the UK 30th Licensing Round.

4.  In August 2019, Parkmead announced expansion into the renewable energy sector by signing a share purchase agreement to acquire the entire issued share capital of Pitreadie Farm Limited, a company owning extensive farmland and sites with significant renewable energy potential.

5.  In October 2019, Parkmead announced that a draft Field Development Plan ("FDP") and Environmental Statement ("ES") for the Platypus gas project had been submitted to the Oil and Gas Authority ("OGA") and the Offshore Petroleum Regulator for Environment and Decommissioning ("OPRED").

6.  In September 2020, Parkmead announced it had been offered four offshore blocks and part blocks spanning three new licences in the UK 32nd Licensing Round awards.

7.  Through its wholly owned subsidiary, Aupec Limited, The Parkmead Group provides petroleum benchmarking and economics expertise to a wide range of government bodies and international energy companies. Aupec has to date worked with over 100 governments, national oil companies, majors and independents across the world, as well as a number of multi-national agencies such as the European Commission and the World Bank.

 

 For further information please refer to Parkmead's website at www.parkmeadgroup.com

 

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