25 Nov 2020 07:00
25 November 2020
Parity Group plc ("Parity" or the "Company")
Grant of Options to Directors/PDMRs
The Board of Parity (AIM:PTY), the technology focussed professional services business, announces that it has awarded Michael Johns, Chief Financial Officer, options over 2,000,000 ordinary shares of 2 pence each in the Company ("the Share Options"). The Share Options were granted on 24 November 2020 and represent approximately 1.9% of the Company's current issued share capital.
The Share Options each have an exercise price, calculated in accordance with the rules of the Parity Group 2019 EMI Options Plan, of 7.88 pence, being the closing mid-market price per ordinary share on 23 November 2020.
The Share Options will vest after 3 years and are subject to the following performance conditions:
· One third of each individual grant of Share Options will be exercisable if the share price achieves or exceeds 12.0 pence for a period of at least five consecutive trading days at any time during the vesting period;
· One third of each individual grant of Share Options will be exercisable if the share price achieves or exceeds 15.0 pence for a period of at least five consecutive trading days at any time during the vesting period; and
· One third of each individual grant of Share Options will be exercisable if the share price achieves or exceeds 18.0 pence for a period of at least five consecutive trading days at any time during the vesting period.
Contacts:
Parity Group plc www.parity.net
Matthew Bayfield, CEO 0208 171 1729
WH Ireland Limited www.whirelandcb.com
Mike Coe / Chris Savidge 0207 220 1666
Donhead Consultants
David Beck +44 7836 293383
The notifications below, made in accordance with the EU Market Abuse Regulation, provide further details in relation to the grant of the Share Options to the PDMRs:
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a)
| Name | Michael Johns | ||||
2
| Reason for the notification | |||||
a)
| Position/status
| Chief Financial Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| Parity Group plc | ||||
b)
| LEI | 213800YEHAYBJ63OHB38 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 2p each
GB00B1235860 | ||||
b)
| Nature of the transaction
| Grant of options to subscribe for new ordinary shares under the Company's 2019 EMI Option Plan. | ||||
c)
| Price(s) and volume(s) |
| ||||
d)
| Aggregated information
- Aggregated volume
- Price |
2,000,000
£157,600.00
| ||||
e)
| Date of the transaction | 24 November 2020 | ||||
f)
| Place of the transaction | Outside a trading venue | ||||
Parity (PTY)