Parity Group PLC Grant of Warrants and Options to Directors/PDMRs (8237N)
October 04 2021 - 1:00AM
UK Regulatory
TIDMPTY
RNS Number : 8237N
Parity Group PLC
04 October 2021
4 October 2021
Parity Group plc
Grant of Warrants and Options to Directors/PDMRs
Grant of Warrants
Parity Group plc ("Company"), the data and technology-focussed
recruitment and professional services company, announces that, in
support of its objective to focus on core recruitment solutions and
build long term value, it has awarded Mark Braund, Executive
Chairman, warrants ("Warrants") over 3,500,000 ordinary shares of 2
pence each in the capital of the Company ("Ordinary Shares"). The
Warrants were granted on 01 October 2021 and represent
approximately 3.4% of the Company's current issued share
capital.
The Warrants have been awarded on the recommendation of the
Company's Remuneration Committee to reward and incentivise Mark
Braund in his capacity as Executive Chairman over the medium term
and to retain him as a key director as the Company grows its core
recruitments services to create long term value for
shareholders.
The Warrants have an exercise price of 6.25 pence per Warrant,
being the closing mid-market price per Ordinary Share on 30
September 2021 and are exercisable for five years from the date of
grant.
The Warrants are also subject to performance conditions:
-- One quarter of the total grant of Warrants will be
exercisable if the mid-market price per Ordinary Share equals or
exceeds 15.0 pence for a period of at least 30 consecutive calendar
days at any time during the exercise period; and
-- One quarter of the total grant of Warrants will be
exercisable if the mid-market price per Ordinary Share equals or
exceeds each of 20.0 pence, 25.0 pence and 30.0 pence, in each
case, for a period of at least 30 consecutive calendar days at any
time during the exercise period.
Grant of Options
The Company further announces that, as part of its focus on
growing its core recruitment solutions, it has awarded Isobel
Brown, Director, Recruitment Business and a person discharging
managerial responsibility ("PDMR"), options ("Options") over
500,000 ordinary shares of 2 pence each in the capital of the
Company ("Ordinary Shares"). The Options were granted on 01 October
2021 and represent approximately 0.49% of the Company's current
issued share capital.
The purpose of the Options is to retain, reward and incentivise
Isobel Brown as a key employee of the Company, on the
recommendation of the Company's Remuneration Committee.
The Options each have an exercise price, calculated in
accordance with the rules of the Parity Group 2019 EMI Options
Plan, of 6.25 pence per Option, being the closing mid-market price
per Ordinary Share on 30 September 2021 and will vest after three
years.
The Options are subject to the following performance
conditions:
-- One quarter of the total grant of Options will be exercisable
if the mid-market price per Ordinary Share equals or exceeds 15.0
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 Options will be exercisable
if the mid-market price per Ordinary Share equals or exceeds each
of 20.0 pence, 25.0 pence and 30.0 pence, in each case, for a
period of at least 30 consecutive calendar days at any time during
the exercise period.
Contacts
Parity Group PLC www.parity.net
Mar k Braund, Executive 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
The Notification of Dealing Forms set out below are provided in
accordance with the requirements of the EU Market Abuse
Regulations:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Braund
---------------------------- -------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Executive Chairman
---------------------------- -------------------------------------
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 Warrants over Ordinary Shares of
financial instrument, 2p each
type of instrument GB00B1235860
Identification code
---------------------------- -------------------------------------
b) Nature of the transaction Grant of Warrants to subscribe for
new Ordinary Shares
---------------------------- -------------------------------------
c) Price(s) and volume(s) Warrant Price(s) Volume(s)
6.25 pence 3,500,000
----------
---------------------------- -------------------------------------
d) Aggregated information 3,500,000
- Aggregated volume GBP218,750
- Price
---------------------------- -------------------------------------
e) Date of the transaction 01 October 2021
---------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
---------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Isobel Brown
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Director, Recruitment Business
-------------------------- -----------------------------------------
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 Options over Ordinary shares of 2p
financial instrument, each
type of instrument GB00B1235860
Identification code
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options to subscribe for
new Ordinary Shares under the Company's
2019 EMI Option Plan.
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Option Price(s) Volume(s)
6.25 pence 500,000
----------
-------------------------- -----------------------------------------
d) Aggregated information 500,000
- Aggregated volume GBP31,250
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 01 October 2021
-------------------------- -----------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------
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