4 October 2021

Parity Group plc  

Grant of Warrants and Options to Directors/PDMRs

Grant of Warrants

Parity Group plc ("Company"), the data and technology-focussed recruitment and professional services company, announces that, in support of its objective to focus on core recruitment solutions and build long term value, it has awarded Mark Braund, Executive Chairman, warrants ("Warrants") over 3,500,000 ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares"). The Warrants were granted on 01 October 2021 and represent approximately 3.4% of the Company's current issued share capital.

The Warrants have been awarded on the recommendation of the Company's Remuneration Committee to reward and incentivise Mark Braund in his capacity as Executive Chairman over the medium term and to retain him as a key director as the Company grows its core recruitments services to create long term value for shareholders.

The Warrants have an exercise price of 6.25 pence per Warrant, being the closing mid-market price per Ordinary Share on 30 September 2021 and are exercisable for five years from the date of grant.

The Warrants are also subject to performance conditions:

·    One quarter of the total grant of Warrants will be exercisable if the mid-market price per Ordinary Share equals or exceeds 15.0 pence for a period of at least 30 consecutive calendar days at any time during the exercise period; and

·    One quarter of the total grant of Warrants will be exercisable if the mid-market price per Ordinary Share equals or exceeds each of 20.0 pence, 25.0 pence and 30.0 pence, in each case, for a period of at least 30 consecutive calendar days at any time during the exercise period. 

Grant of Options

The Company further announces that, as part of its focus on growing its core recruitment solutions, it has awarded Isobel Brown, Director, Recruitment Business and a person discharging managerial responsibility ("PDMR"), options ("Options") over 500,000 ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares"). The Options were granted on 01 October 2021 and represent approximately 0.49% of the Company's current issued share capital.

The purpose of the Options is to retain, reward and incentivise Isobel Brown as a key employee of the Company, on the recommendation of the Company's Remuneration Committee.

The Options each have an exercise price, calculated in accordance with the rules of the Parity Group 2019 EMI Options Plan, of 6.25 pence per Option, being the closing mid-market price per Ordinary Share on 30 September 2021 and will vest after three years.

The Options are subject to the following performance conditions:

•        One quarter of the total grant of Options will be exercisable if the mid-market price per Ordinary Share equals or exceeds 15.0 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 Options will be exercisable if the mid-market price per Ordinary Share equals or exceeds each of 20.0 pence, 25.0 pence and 30.0 pence, in each case, for a period of at least 30 consecutive calendar days at any time during the exercise period.  

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