TIDMPTY

RNS Number : 1652P

Parity Group PLC

08 June 2020

8 June 2020

Parity Group plc

('Parity' or 'the Company' or the "Group")

Board change

Parity (AIM:PTY), the data and technology focussed professional services business, announces that Roger Antony has stepped down as a Director of the Company and that the Company has today appointed Mike Johns to be a Director and to the role of Chief Financial Officer. Roger will continue to work for the company for a short period to assist with an orderly handover.

Mike Johns joins as an experienced CFO and COO, most recently for Fuel3D Technologies Ltd where he led organisational change and development in support of a new strategy, including the creation of new functional teams for data, hardware and product management. Mike has considerable M&A experience having led both successful acquisition and sales processes, he also has experience of data implementations in complex businesses. He will become the third member of the Parity executive team to have been recognised by Data IQ as one of the 100 most influential people in data, joining CEO, Matthew Bayfield and Head of Consultancy, Antonio Acuña on that list.

The following details in relation to the appointment of Mr. Johns, aged 49, are disclosed in accordance with Schedule 2(g) of the AIM Rules:

 
 Current directorships:   Past directorships held within 
                           the last five years: 
 IRONDUKE LTD             None. 
                         -------------------------------

There are no other disclosures required pursuant to Schedule 2(g) of the AIM Rules.

John Conoley, Chairman of Parity, commented;

"The Board would like to thank Roger for his substantial contribution and dedicated service to the Group over many years. As Group FD over the last four years, Roger has put the Group on a much stronger financial footing, notably navigating the Group from net debt position of GBP7.4m to a cash positive position by the end of last year. In tandem with that Roger presided over a significant reduction in the pension deficit.

"Roger has worked tirelessly alongside CEO Matthew Bayfield to drive the Group's transformation programme, which will deliver approximately GBP4 million of annualised gross cost savings. This has positioned us well to face the challenges posed to so many businesses by COVID 19. We wish Roger every success in the future.

"The Board welcomes Mike Johns to Parity, we are attracted to Mike's experience in data as well as his business transformation and organisation redesign experience. Mike has a track record in helping grow the companies he has worked for, as well as having been part of successful exit processes for PE backed businesses."

 
 Contacts 
 Parity Group PLC           www.parity.net 
 Matthew Bayfield, CEO      + 44 (0) 208 543 5353 
 
  David Beck                 david@donheadconsultants.com 
                             +44 7836 293383 
 WH Ireland Limited         www.whirelandcb.com 
 Mike Coe/ Chris Savidge    +44 (0) 117 945 3470

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END

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June 08, 2020 02:00 ET (06:00 GMT)

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