Last checked at 19 Feb 2009 11:22
19 February 2009
Parity Group plc
("Parity" or the "Company")
Result of EGM
On 29 January 2009 the Board of Parity announced that it had agreed the disposal of Parity Training Limited, its training division, to ECS Ltd for a total cash consideration of up to £3 million. In addition, the Board announced the proposed introduction of a senior executive option plan.
The Board is pleased to announce that, at the Extraordinary General Meeting held earlier today the ordinary resolution to approve the disposal of Parity Training was duly passed and as such the Disposal is expected to complete on 27 February 2009.
The Board also announces that the ordinary resolutions to introduce a senior executive option plan and to amend the rules of the existing share plans to accommodate a separate dilution limit for the new plan were duly passed.
Two copies of the resolutions passed as ordinary business at the EGM have been submitted to the UK Listing Authority and will be available at the UK Listing Authority's Document Viewing Facility, which is situated at Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS.
Capitalised terms used in this announcement will have the same meaning as in the circular sent to Shareholders on 2 February 2009 unless the context requires otherwise.
Enquiries:
| Parity Group plc Alwyn Welch, Chief Executive Officer Ian Ketchin, Finance Director | 0845 873 6942 |
| Arbuthnot Securities Limited Alastair Moreton/Edward Gay | 020 7012 2000 |
| The Hogarth Partnership John Olsen/Ian Payne | 020 7357 9477 |