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Parity Group PLC - Grant of Options

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 /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 financial instrument, type of instrument

 

Identification code

 

 

Ordinary shares of 2p each

 

GB00B1235860

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

 

 

- Aggregated volume

 

- Price

 

 

 

4,000,000

 

£310,000.00

 

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 [email protected] or visit www.rns.com.
 
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Quick facts: Parity Group PLC

Price: 8

Market: LSE
Market Cap: £8.21 m
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