Result of General Meeting

RNS Number : 4420H

Parity Group PLC

27 May 2011

 



PARITY GROUP PLC

("Parity" or the "Company")

Result of General Meeting and Directors' Interest in Shares

Result of General Meeting

The Company is pleased to announce that, at the General Meeting of the Company held at 11.00 a.m. today, all of the resolutions relating to the proposed Firm Placing, Placing and Open Offer as set out in the Notice of General Meeting dated 11 May 2011, were duly passed without amendment.

The Notice of General Meeting is set out in the prospectus of the Company dated 11 May 2011 (the "Prospectus"), a copy of which can be obtained from the Company's website (www.parity.net).  Unless otherwise defined in this announcement, capitalised terms shall have the meaning attributed to them in the Prospectus.

Application has been made for the 30,434,783 New Ordinary Shares to be issued pursuant to the Firm Placing, Placing and Open Offer to be admitted to the Official List and to trading on the main market of the London Stock Exchange. Admission of, and dealings in, such shares are expected to commence at 8.00 a.m. on 31 May 2011.

In accordance with Parity's obligations under Listing Rule 9.6.2, copies of the resolutions passed have been submitted to the National Storage Mechanism and will shortly be available for viewing at www.hemscott.com/nsm.do.

Details of the proxy votes received in advance of the meeting are shown below (and will shortly be available on the Company's website):

Resolution	Votes For/Discretion		Votes Against		Votes Withheld		Result
	Number	%	Number	%	Number	%
Ordinary resolutions
1. Authority to allot shares	12,104,133	99.99	111	0.00	0	0.00	Passed
2. Approval of the terms of the Issue	12,104,115	99.99	111	0.00	18	0.00	Passed
Special resolution
3. Partial disapplication of pre-emption rights	11,971,007	98.90	132,514	1.09	723	0.00	Passed

Notes:

1.       Valid proxy appointments were received in respect of 12,104,244 shares, in aggregate;

2.       Any proxy appointment which gave discretion to the Chairman has been included in the "for" total;

3.       A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution; and

4.       The issued ordinary share capital of the Company as at 27 May 2011 comprised 38,246,784 shares.

Directors' Interest in Shares

Following Admission of the New Ordinary Shares allotted under the Firm Placing, Placing and Open Offer, the interests of the Directors (and persons connected with them, within the meaning of section 252 of the Companies Act 2006) in the Ordinary Shares of Parity will be as follows:

Director	Shareholding prior to the Issue	% of issued share capital held prior to the Issue	Uptake under Open Offer	Uptake under Firm Placing	Shareholding following Admission	% of issued share capital held following Admission
Philip Swinstead	9,795,327	25.61	2,385,216	Nil	12,180,543	17.73
Roger Freeman	5,000	0.01	1,250	Nil	6,250	0.00
Paul Davies	720,000	1.88	Nil	Nil	720,000	1.05
Nigel Tose	100,000	0.26	25,000	55,639	180,639	0.26
Alastair Woolley	56	0.00	Nil	Nil	56	0.00

For further information, please contact:
Parity Group plc Philip Swinstead, Chairman Paul Davies, Chief Executive Officer	Tel: [phone]
Singer Capital Markets Limited Jeff Keating	Tel: [phone]
Media/Financial Enquiries: MHP Communications John Olsen Ian Payne	Tel: [phone]

 

END

 

 

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