Parkwood Holdings PLC (PKW.LN) said Monday a subsidiary special purpose company Realm Services Ltd has been placed into administration following discussions with Barclays Bank PLC (BCS).

MAIN FACTS:

-Joint Administrators, Shay Bannon and Tony Nygale, of BDO Stoy Hayward will seek satisfactory terms with Ministry of Defence relating to outstanding dispute at Defence Animal Centre in Leicestershire.

-Dispute relates to provision of kennelling for dogs trained at centre.

-Placing Realm into administration invokes 150 day suspension period, which should allow time to reach resolution to outstanding contractual issues.

-Barclays Bank provides senior debt amounting to GBP6.5 million to Realm, which signed a PFI contract with MoD in August 2000.

-Total carrying value of Realm in goup's consolidated balance sheet is GBP2.6 million.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
Parkwood Holdings (LSE:PKW)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Parkwood Holdings Charts.
Parkwood Holdings (LSE:PKW)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Parkwood Holdings Charts.