TIDMPTY
RNS Number : 0307D
Parity Group PLC
24 June 2021
24 June 2021
Parity Group plc
("Parity" or "the Company")
Issue of Equity, Grant of Options and
Director/PDMR Shareholdings
Issue of New Ordinary Shares
Parity, the data and technology-focussed recruitment and
professional services company, announces that it has applied to the
London Stock Exchange for 451,613 new ordinary shares of 2p each in
the Company ("New Ordinary Shares") to be admitted to trading on
AIM ("Admission"). The New Ordinary Shares are being issued to
Gerard Brandon, a Non-Executive Director of the Company, pursuant
to the terms of his contract with the Company. The New Ordinary
Shares are being issued at a price of 7.75 pence per Ordinary
Share.
On Admission, Gerard Brandon is beneficially interested in a
total of 571,613 Ordinary Shares, representing approximately 0.6%
of the Company's issued share capital. Further details are set out
in the PDMR table below.
The issued shares satisfy the Director's Fee in respect of the
initial period of 12 months from the date of Gerard Brandon's
appointment. From 1 May 2021, the Director's Fee of GBP35,000 per
annum will be settled in cash.
Total Voting Rights
Application has been made for 451,613 new Ordinary Shares to be
admitted to trading on AIM and dealings are expected to commence on
or around 29 June 2021. The new Ordinary Shares will rank pari
passu with the existing Ordinary Shares.
Following the issue of the new Ordinary Shares, the total number
of shares in issue is 103,075,633 Ordinary Shares, each with voting
rights. The Company does not hold any shares in treasury.
Therefore, the total number of voting rights in the Company from
Admission will be 103,075,633. This figure may be used by
shareholders as the denominator for the calculations by which they
determine if they are required to notify their interest in or a
change to their interest in the Company under the FCA's Disclosure
Guidance and Transparency Rules.
Grant of Options
The Company further announces that it has awarded Michael Johns,
Chief Financial Officer, options over 2,000,000 Ordinary Shares
(the "Share Options"). The Share Options were granted on 23 June
2021 on the recommendation of the Company's Remuneration Committee
and represent approximately 1.9% of the Company's issued share
capital.
The Share Options have an exercise price, calculated in
accordance with the rules of the Parity Group 2019 EMI Options Plan
and 2019 Unapproved Company Share Option Plan, of 10.25 pence per
Ordinary Share, being the closing mid-market price per Ordinary
Share on 22 June 2021.
The Share Options will vest after three years and are subject to
the following performance conditions:
-- One quarter of the total grant of Share Options will be
exercisable if the price per Ordinary Share achieves or exceeds an
average of 15.0 pence for a period of at least 30 consecutive
calendar days at any time during the vesting period;
-- One quarter of the total grant of Share Options will be
exercisable if the price per Ordinary Share achieves or exceeds an
average of 20.0 pence for a period of at least 30 consecutive
calendar days at any time during the vesting period;
-- One quarter of the total grant of Share Options will be
exercisable if the price per Ordinary Share achieves or exceeds an
average of 25.0 pence for a period of at least 30 consecutive
calendar days at any time during the vesting period; and
-- One quarter of the total grant of Share Options will be
exercisable if the price per Ordinary Share achieves or exceeds an
average of 30.0 pence for a period of at least 30 consecutive
calendar days at any time during the vesting period.
Following the grant of the Share Options, Mr Johns is
beneficially interested in a total of 4,000,000 options over
Ordinary Shares.
Contacts
Parity Group plc www.parity.net
Mark Braund, Chairman + 44 (0) 208 543 5353
Mike Johns, CFO
finnCap Ltd https://www.finncap.com/
Jonny Franklin-Adams / Simon Hicks
/ Fergus Sullivan +44 (0) 20 7220 0500
Tim Redfern / Charlotte Sutcliffe
Houston Parity@Houston.co.uk
Alexander Clelland +44 (0) 204 529 0549
The Notification of Dealing Forms set out below are provided in
accordance with the requirements of the EU Market Abuse
Regulation.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gerard Brandon
-------------------------------- -------------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------------
a) Position/status Non-Executive Director
-------------------------------- -------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Parity Group plc
-------------------------------- -------------------------------------------
b) LEI 213800YEHAYBJ63OHB38
-------------------------------- -------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------
a) Description of the Ordinary shares of 2p each
Financial instrument,
type of instrument
Identification code GB00B1235860
-------------------------------- -------------------------------------------
b) Nature of the transaction Shares in lieu of deferred salary payments
-------------------------------- -------------------------------------------
c) Price(s) and volume(s) No. of Shares Price
451,613 7.75p
------
-------------------------------- -------------------------------------------
d) Aggregated information:
* Aggregated volume 451,613
7.75p
* Price
------------------------------------------ -------------------------------------------
e) Date of the transaction 23 June 2021
-------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- -------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Michael Johns
-------------------------------- ----------------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------------- ----------------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------- ----------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name Parity Group plc
-------------------------------- ----------------------------------------------
b) LEI 213800YEHAYBJ63OHB38
-------------------------------- ----------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------
a) Description of the Ordinary shares of 2p each
Financial instrument,
type of instrument
Identification code GB00B1235860
-------------------------------- ----------------------------------------------
b) Nature of the transaction Grant of options to subscribe for new
ordinary shares under the Company's 2019
EMI Options Plan and 2019 Unapproved Company
Share Option Plc
-------------------------------- ----------------------------------------------
c) Price(s) and volume(s) No. of Shares Price
2,000,000 10.25p
-------
-------------------------------- ----------------------------------------------
d) Aggregated information:
* Aggregated volume 2,000,000
10.25p
* Price
------------------------------------------- ----------------------------------------------
e) Date of the transaction 23 June 2021
-------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- ----------------------------------------------
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