24 June 2021

Parity Group plc  

("Parity" or "the Company") 

Issue of Equity, Grant of Options and

Director/PDMR Shareholdings

Issue of New Ordinary Shares

Parity, the data and technology-focussed recruitment and professional services company, announces that it has applied to the London Stock Exchange for 451,613 new ordinary shares of 2p each in the Company ("New Ordinary Shares") to be admitted to trading on AIM ("Admission"). The New Ordinary Shares are being issued to Gerard Brandon, a Non-Executive Director of the Company, pursuant to the terms of his contract with the Company. The New Ordinary Shares are being issued at a price of 7.75 pence per Ordinary Share.

On Admission, Gerard Brandon is beneficially interested in a total of 571,613 Ordinary Shares, representing approximately 0.6% of the Company's issued share capital. Further details are set out in the PDMR table below.

The issued shares satisfy the Director's Fee in respect of the initial period of 12 months from the date of Gerard Brandon's appointment. From 1 May 2021, the Director's Fee of £35,000 per annum will be settled in cash.

Total Voting Rights

Application has been made for 451,613 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or around 29 June 2021. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following the issue of the new Ordinary Shares, the total number of shares in issue is 103,075,633 Ordinary Shares, each with voting rights. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company from Admission will be 103,075,633.  This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Grant of Options

The Company further announces that it has awarded Michael Johns, Chief Financial Officer, options over 2,000,000 Ordinary Shares (the "Share Options"). The Share Options were granted on 23 June 2021 on the recommendation of the Company's Remuneration Committee and represent approximately 1.9% of the Company's issued share capital.

The Share Options have an exercise price, calculated in accordance with the rules of the Parity Group 2019 EMI Options Plan and 2019 Unapproved Company Share Option Plan, of 10.25 pence per Ordinary Share, being the closing mid-market price per Ordinary Share on 22 June 2021.

The Share Options will vest after three years and are subject to the following performance conditions:

·    One quarter of the total grant of Share Options will be exercisable if the price per Ordinary Share achieves or exceeds an average of 15.0 pence for a period of at least 30 consecutive calendar days at any time during the vesting period;

·    One quarter of the total grant of Share Options will be exercisable if the price per Ordinary Share achieves or exceeds an average of 20.0 pence for a period of at least 30 consecutive calendar days at any time during the vesting period;

·    One quarter of the total grant of Share Options will be exercisable if the price per Ordinary Share achieves or exceeds an average of 25.0 pence for a period of at least 30 consecutive calendar days at any time during the vesting period; and

·    One quarter of the total grant of Share Options will be exercisable if the price per Ordinary Share achieves or exceeds an average of 30.0 pence for a period of at least 30 consecutive calendar days at any time during the vesting period.

Following the grant of the Share Options, Mr Johns is beneficially interested in a total of 4,000,000 options over Ordinary Shares.

The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.