Directorate Change

RNS Number : 5509E

Parity Group PLC

04 November 2015

4 November 2015

Parity Group plc ("Parity "or the "Group")

Director Changes

Following the recent announcements setting out the revised strategy for the Group focusing on its IT Services Business, the Board of Parity Group plc announces changes to its Board to align further the Group to the new strategy. As from today's date:

1. Philip Swinstead and Paul Davies, the Founder Directors of Parity, will step down from the Board; and

2. Lord Freeman will be appointed to the role of Non-Executive Chairman and will remain Chairman of the Nomination and Remuneration Committees.

Alan Rommel, CEO, and Mike Aspinall, Group Finance Director, continue as executive directors. Neal Ransome will continue as a Non-Executive Director and chairman of the Audit Committee.

The Board wishes to extend its thanks to Philip Swinstead and Paul Davies for their exceptional hard work and commitment over the years and, in particular, for their efforts over the last five years to reorganise and recover the profitability of the core business.

Paul Davies commented: "I have enjoyed my time at Parity but now is the right time to hand over to Alan Rommel knowing that the business is in safe hands."

Philip Swinstead commented: "I am delighted that our two executive directors have so quickly taken over Group operations, implemented the £1 million cost-saving programme for 2016, and created an exciting organic growth strategy for the continuing business. Therefore Paul and I are able to hand over control formally to the new team, encouragingly more quickly than envisaged. We leave the ongoing business in good shape, with excellent plans for improving shareholder value in future years. "

Enquiries:

Parity Group PLC

Lord Freeman, Non-Executive Chairman

Alan Rommel, CEO

Mike Aspinall, FD 020 8543 5353

MHP Communications

John Olsen 020 3128 8100

Investec Bank PLC

Andrew Pinder

Patrick Robb

Dominic Emery 020 7597 5970

END