Last checked at 30 Jun 2014 15:09
30 June 2014
Parity Group plc (the "Group")
Trading Update and Directorate
Parity (AIM: PTY) announces that, as indicated in the Chairman's AGM Statement on 29th May 2014, Paul Davies will now be concentrating on his role as Chairman of Parity Professionals, the Group's IT services division specialising in professional staff selection, development and placement and currently its largest division. He will therefore step down from his role as Group Chief Executive Officer with effect from 1 July 2014 but will remain a Main Board director, and a director of SuperCommunications, the Group's recently launched high-tech marketing communications division, of which Andy Law is Executive Chairman. Philip Swinstead remains Group Executive Chairman and a director of both divisions.
Having successfully operated in this mode for three months, the Board has now agreed a variation to the service agreement with Paul from 1st July 2014 based on three days per week with adjusted remuneration, and his share option package remaining in place.
The Board is pleased to note that trading in the first half of this financial year was in line with its expectations, and is encouraged by the level of interest from brands following the recent SuperCommunications launch.
The Company
Enquiries:
Parity Group PLC 0845 873 0790
Alastair Woolley
MHP Communications 020 3128 8100
Ben Griffiths
Investec Bank PLC 020 7597 5970
Dominic Emery