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13 Mar 2009 15:50
Parity Group plc ("Parity or the "Company")
Senior Executive Share Option Plan
On 29 January 2009 the Board of Parity announced the terms of a new Senior Executive Option Plan (the "Plan") and that, following approval by Shareholders of the Plan at the Extraordinary General Meeting on 19 February 2009, it was the Company's intention to grant options under the Plan to Alwyn Welch, Chief Executive and Ian Ketchin, Finance Director, over 7.5 per cent. and 2.5 per cent. respectively of the Company's issued share capital, immediately following the release of the preliminary results for the year ended 31 December 2008.
Accordingly, on 12 March 2009 the Company granted options under the Plan over Parity Group plc ordinary shares as follows:
|
Director |
No. of options |
Exercise Period |
Exercise Price |
|
Alwyn Welch |
2,851,633 |
2009 - 2014 |
20p |
|
Ian Ketchin |
950,544 |
2009 - 2014 |
20p |
No consideration was payable on the grant of the options. The options, which do not have performance conditions attached, will vest over seven consecutive calendar quarters with the first tranche vesting on 30 June 2009 and the final tranche vesting on 31 December 2010. A summary of the principal terms of the Plan is set out in the circular to shareholders dated 2 February 2009.
Enquiries:
|
Parity Group plc Alwyn Welch, Chief Executive Officer Ian Ketchin, Finance Director |
0845 873 6942 |
|
Arbuthnot Securities Limited Alastair Moreton/Ed Gay |
020 7012 2000 |
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