Parkwood leaves the stock market

PRESTON-based Parkwood Holdings, which manages golf courses and swimming pools, has de-listed from the stock market.

The company announced its plan to go private in April citing the “disappointing performance” of its share price and the cost of maintaining a listing.

In a short statement the company said the Financial Services Authority had cancelled its securities from the Official List.

In a statement issued to shareholders in April Parkwood said: “The share price performance of the company has been disappointing for some time and the directors believe that the strengths of the business and its future potential are not, and will continue not to be, reflected in the company’s share price.”

The company, which listed in 1999, saw its shares rise to a high of 120p in recent years but the value has since fallen back and has fluctuated between 25-58p since the start of 2010. It has a market value of £9.1m based on its current share price of 50p.

The support services firm offers grounds maintenance, leisure management and other services to private and public sector clients.