Disposal

6 Oct 2006 13:32

Parkmead Group (The) PLC06 October 2006 6 October 2006 The Parkmead Group plc ("Parkmead" or the "Group") Announcement of the sale of Audio Visual Machines Limited The Board of Parkmead would like to announce that the Group has sold its entireholding in Audio Visual Machines Limited (AVM) for a consideration of £1.275million before expenses. Parkmead acquired AVM in January 2005 for aconsideration of £0.500 million. Niall Doran said: "We believe that the proceeds from this sale represent good value to theshareholders of the Parkmead Group. The proceeds will be used to develop ourturnaround and advisory businesses" Enquiries: The Parkmead Group plc 020 7494 3080Niall Doran, Chief Executive OfficerGordon Ashworth, Chief Financial Officer Madano Partnership 020 7593 4000Matthew Moth / Toby Wilkinson This information is provided by RNS The company news service from the London Stock Exchange