Parity Group PLC Directorate Change (3013L)
29 Abril 2020 - 3:27AM
UK Regulatory
TIDMPTY
RNS Number : 3013L
Parity Group PLC
29 April 2020
29 April 2020
PARITY GROUP plc
Appointment of Director
Parity Group plc ("Parity" or the "Group"), the data and
technology focussed professional services business, today announces
the appointment of Gerard (Gerry) Brandon as a non-executive
Director of the Company effective from the 1 May 2020. The
disclosures required by Schedule 2 (g) of the AIM Rules for the
appointment of Mr Gerard James Brandon, aged 58, can be found in
Note 1 of the appendix to this announcement and further details of
his appointment can be found in Note 2.
Gerry is CEO of Integumen, the AIM listed business focused on
Artificial intelligence, clinical research, medical device and life
sciences. Integumen owns Rinocloud, a secure cloud-based data
storage solution with built in Artificial Intelligence (AI). In
December 2019 Parity announced an agreement with Integumen to
provide Parity's clients access to Rinocloud.
John Conoley, Non-Executive Chairman of Parity, commented;
"Gerry has a great track record of growing businesses and
creating value for shareholders. Our collaboration with Gerry and
with the Integumen business has created a wider scope of
opportunity, and an enhanced pipeline, for Parity.
"Parity has transformed its business model to reflect the
fast-moving data and technology recruitment and consultant
industry. With Gerry's appointment Parity adds additional expertise
in the application of data into multiple sectors, including health
care and pharmaceuticals. This will aid Parity in looking beyond
the COVID-19 pandemic and the opportunities that we foresee for
rapid digitisation of the business landscape."
Gerry is CEO of both Integumen plc and Cellulac plc and
Non-Executive Chairman of Modern Water plc. In 1996 he founded and
was CEO of Alltracel Pharmaceuticals PLC, where he built a team
that oversaw numerous patents granted on refined cellulose.
Alltracel Pharmaceuticals PLC was admitted to trading on AIM in
2001. In 2004, he was appointed as a Managing Partner for
Farmabrand Private Equity. He is a Fellow of the Ryan Academy of
Entrepreneurs in Dublin.
ENDS
For further information, contact:
Matthew Bayfield
CEO 020 8543
Roger Antony GFD Parity Group plc 5353
David Beck Donhead Consultants 07836 293383
Mike Coe 0207 220
Chris Savidge WH Ireland 1666
Appendix:
Note 1:
Current directorships Past directorships held within
the last five years
Modern Water plc Visible Youth Limited
Cellulac plc VY Club Limited
Cellulac Trading Limited
Innovenn UK Limited
Integumen Plc
Lifesciencehub UK Limited
Pursuit Marine Drive Limited
Rinocloud Limited
-------------------------------
There are no other disclosures in accordance with Schedule 2(g)
of the AIM Rules.
Note 2:
The appointment of Gerard James Brandon as Non-Executive
Director of the Company is for an initial period of 12 months and
thereafter is terminable by either party on not less than 3 months'
written notice. The Director's fee is GBP35,000 per annum but will
not be settled in cash. Instead, the Director will have his accrued
fee settled by the allotment to him of New Ordinary Shares, which
will be issued at the Price of 7.75p per New Ordinary Share for the
first six months, which is approximately 10% above the closing
price on 28th April 2020. The issue price for the second six months
(pro-rata of length of service) of the Director's appointment will
be the higher of either 7.75p or the mid-market value of the
Ordinary Shares of the Company as determined by the Company's
Remuneration Committee on the date six months after the
commencement of the Director's appointment.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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