Director/PDMR Shareholding

RNS Number : 7189K

Parity Group PLC

23 December 2008

 



Parity Group plc ('Parity' or 'the Group')

23 December 2008

Director's Interests

On 18 October 2006, Alwyn Welch, Chief Executive, was granted an award under the Parity Group plc Long-Term Incentive Plan (the 'Plan') over Parity ordinary shares. Mr Welch has now surrendered his award under the Plan.

The maximum award was 1,600,000 shares at a subscription price of 2 pence per share. The key performance measure was that Parity's share price had to meet or exceed 125p per share for a period of 60 consecutive days within the three years starting on the grant date in order for 37.5% of the award to vest. Higher share prices would increase the award, with the maximum at a sustained price of 200p.

As a result of this surrender, there will be no share-based payment charge to group profits under IFRS2 in 2008 in respect of these options.

 

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