Last checked at 27 May 2011 11:36
PARITY GROUP PLC
("Parity" or the "Company")
Result of General Meeting and Directors' Interest in Shares
Result of General Meeting
The Company is pleased to announce that, at the General Meeting of the Company held at 11.00 a.m. today, all of the resolutions relating to the proposed Firm Placing, Placing and Open Offer as set out in the Notice of General Meeting dated 11 May 2011, were duly passed without amendment.
The Notice of General Meeting is set out in the prospectus of the Company dated 11 May 2011 (the "Prospectus"), a copy of which can be obtained from the Company's website (www.parity.net). Unless otherwise defined in this announcement, capitalised terms shall have the meaning attributed to them in the Prospectus.
Application has been made for the 30,434,783 New Ordinary Shares to be issued pursuant to the Firm Placing, Placing and Open Offer to be admitted to the Official List and to trading on the main market of the London Stock Exchange. Admission of, and dealings in, such shares are expected to commence at 8.00 a.m. on 31 May 2011.
In accordance with Parity's obligations under Listing Rule 9.6.2, copies of the resolutions passed have been submitted to the National Storage Mechanism and will shortly be available for viewing at www.hemscott.com/nsm.do.
Details of the proxy votes received in advance of the meeting are shown below (and will shortly be available on the Company's website):
Resolution | Votes For/Discretion | Votes Against | Votes Withheld | Result | |||
Number | % | Number | % | Number | % | ||
Ordinary resolutions | |||||||
1. Authority to allot shares | 12,104,133 | 99.99 | 111 | 0.00 | 0 | 0.00 | Passed |
2. Approval of the terms of the Issue | 12,104,115 | 99.99 | 111 | 0.00 | 18 | 0.00 | Passed |
Special resolution | |||||||
3. Partial disapplication of pre-emption rights | 11,971,007 | 98.90 | 132,514 | 1.09 | 723 | 0.00 | Passed |
Notes:
1. Valid proxy appointments were received in respect of 12,104,244 shares, in aggregate;
2. Any proxy appointment which gave discretion to the Chairman has been included in the "for" total;
3. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution; and
4. The issued ordinary share capital of the Company as at 27 May 2011 comprised 38,246,784 shares.
Directors' Interest in Shares
Following Admission of the New Ordinary Shares allotted under the Firm Placing, Placing and Open Offer, the interests of the Directors (and persons connected with them, within the meaning of section 252 of the Companies Act 2006) in the Ordinary Shares of Parity will be as follows:
Director | Shareholding prior to the Issue | % of issued share capital held prior to the Issue | Uptake under Open Offer | Uptake under Firm Placing | Shareholding following Admission | % of issued share capital held following Admission |
Philip Swinstead | 9,795,327 | 25.61 | 2,385,216 | Nil | 12,180,543 | 17.73 |
Roger Freeman | 5,000 | 0.01 | 1,250 | Nil | 6,250 | 0.00 |
Paul Davies | 720,000 | 1.88 | Nil | Nil | 720,000 | 1.05 |
Nigel Tose | 100,000 | 0.26 | 25,000 | 55,639 | 180,639 | 0.26 |
Alastair Woolley | 56 | 0.00 | Nil | Nil | 56 | 0.00 |
For further information, please contact: | |
Parity Group plc Philip Swinstead, Chairman Paul Davies, Chief Executive Officer | Tel: +44 (0)845 873 0790 |
Singer Capital Markets Limited Jeff Keating | Tel: +44 (0)20 3205 7500 |
Media/Financial Enquiries: MHP Communications John Olsen Ian Payne
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Tel: +44 (0)20 3128 8100
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