PARKD Ltd (ASX:PKD) has a new substantial shareholder in prominent professional investor Bryant Mclarty, who holds a 5.64% stake.
Bryant McLarty is the executive chairman of Mac Equity Partners, a boutique Western Australian stockbroking and corporate advisory business operating since 2009.
Existing substantial holder, former Automotive Holdings Group (ASX:AHG) boss Bronte Howson, has increased his stake in PARKD to 8.47% from 7.42%.
Last month, PARKD signed an MoU aimed at developing, refining and improving a critical concrete panel component of the company’s innovative lightweight modular car parking system.
The MoU with Reinforced Earth Pty Ltd (REPL) will see the parties work together for co-development and improvements of PARKD’s transportable concrete panels.
Continuous improvement strategy
At first the collaboration will focus on improving concrete design, production techniques and cost efficiencies with the intention to manufacture and test the panel against a number of industry benchmarks.
If the quality of the product manufactured and supplied by REPL is suitable, both companies expect to proceed to an exclusive agreement whereby REPL will manufacture and supply PARKD’s transportable panels for future projects globally.