Parkmead men buy 10m shares each

There's been heavy buying of investment company Parkmead recently, with bosses keen to snap up stock near historic lows.

Non-executive chairman Colin Goodall and non-executive director Thomas Cross both bought 10m shares at 1p each.

The £100,000 purchases take former BP man Goodall's stake to 12m shares, or 3.26% of the business, and the holding of Cross, also CEO at Dana Petroleum, up to 14m shares, or 3.8%.

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Parkmead chief Niall Doran chipped in with a more modest acquisition, adding 2m shares, or £20,000 worth, to his holding. He owns almost 10% of the company.

A month ago, the group reported an operating loss of £1.11m in the six months to December, out from 1m in 2007. After impairment and other net losses, it posted a loss before tax of £4.27m versus £660,000 the year before.

The company has two investments in listed companies, Faroe Petroleum and Reservoir Exploration Technology and a debenture investment in Transeuro Energy.

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