Parity Regulatory News (PTY)

13 Feb 2006 07:01

Dominick Company AG13 February 2006 Disclosure of Dealing by a Person with an Interest in Securities Representing1% or more (Rule 8.3 of the City Code on Takeovers and Mergers) Dominick Company AG ("the Bank"), a Swiss private bank, announced on 26 January2006 that it was interested in 67,738,936 ordinary shares of Parity Group plc,representing 23.46% of Parity's reported issued share capital, by virtue of apledge granted to the Bank by one of its customers to secure financialfacilities made available to that customer through which these shares wereacquired. The pledge provided among other things that, in the event ofnon-repayment of the financial facilities on the agreed date, the Bank couldacquire the shares itself or require the shares to be sold. The Bank has nowexercised the right to acquire these shares, and has also sold 55,000,000 of theParity shares thereby acquired, representing approximately 19% of Parity'sreported issued share capital to Dominion Holdings Ltd ("Dominion"), aSwiss-based investment company, at a price of 6.75 pence per share. Dominion istherefore now interested in these 55,000,000 shares. The Bank has retained, and remains interested in, 12,738,936 ordinary shares inParity Group plc, representing approximately 4.4 per cent of Parity's reportedissued share capital. Dominion is also interested in these 12,738,936 Parityshares by virtue of put and call options entered into with the Bank under whichDominion may acquire, or be required by the Bank to purchase, such shares at aprice of 8 pence per share. The options are exercisable at any time within threeyears from the date of grant. 10 February 2006 RICHARDS BUTLER This information is provided by RNS The company news service from the London Stock Exchange