Parity Group PLC Grant of Options (7200K)
April 24 2020 - 1:00AM
UK Regulatory
TIDMPTY
RNS Number : 7200K
Parity Group PLC
24 April 2020
24 April 2020
Parity Group plc ("Parity" or "the Company")
Grant of Options to Directors/PDMRs
The Board of Parity (AIM: PTY), the data and technology focussed
professional services business, announces that it has awarded
Matthew Bayfield, Chief Executive Officer, 4,000,000 ordinary
shares of 2 pence each in the Company ("the Share Options"). The
Share Options were granted on 23 April 2020 on the recommendation
of the Remuneration Committee and represent approximately 3.9% of
the Company's current issued share capital.
The Share Options each have an exercise price, calculated in
accordance with the rules of the Unapproved CSOP Scheme 2019, of
7.75 pence. The exercise price has been set considering the market
price per ordinary share as at 28 February 2020 in order to reflect
conditions prior to the market impacts of Covid-19. The exercise
price is therefore set higher than the closing mid-market price per
ordinary share on 22 April 2020 of 7.00 pence.
The Share Options will vest after 3 years and are subject to the
following performance conditions:
-- One third of the Share Options will be exercisable if the
share price is greater than or equal to 12.00 pence for a period of
at least five consecutive trading days at any time during the
vesting period;
-- One third of the Share Options will be exercisable if the
share price is greater than or equal to 15.00 pence for a period of
at least five consecutive trading days at any time during the
vesting period; and
-- One third of the Share Options will be exercisable if the
share price is greater than or equal to 18.00 pence for a period of
at least five consecutive trading days at any time during the
vesting period.
Contacts:
Roger Antony, GFD Parity Group plc 0208 543 5353
Mike Coe WH Ireland Limited 0207 220 1666
Chris Savidge
The notifications below, made in accordance with the EU Market
Abuse Regulation, provide further details in relation to the grant
of the Share Options to the PDMR:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Matthew Bayfield
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------- -----------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- -----------------------------------------
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, GB00B1235860
type of instrument
Identification code
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options to subscribe for
new ordinary shares under the Company's
Unapproved CSOP Scheme 2019.
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Option Price(s) Volume(s)
7.75p 4,000,000
----------
-------------------------- -----------------------------------------
d) Aggregated information 4,000,000
- Aggregated volume GBP310,000.00
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 23 April 2020
-------------------------- -----------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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