Director/PDMR Shareholding - Options Grant

Partway

25/11/2020 07:00

RNS Number : 3734G

Parity Group PLC

25 November 2020

 

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)
Option Price(s)
Volume(s)
7.88p
2,000,000
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

 

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