30th Dec 2022 11:14
(Alliance News) - Parity Group PLC - London-based recruitment and consultancy company - Sells the Parity name trademarks it holds in the UK and EU to investment firm Gap Capital Ventures LLC for GBP950,000 in cash. Parity is granted a perpetual, royalty free and irrevocable licence to continue to use the trademarks. Says the proceeds are payable in full immediately, with the value of the trademarks currently ascribed no value within Parity's accounts nor is any profit associated with them.
"The sale and licence of the Parity trademarks will have minimal impact on the group's activities whilst generating significant value that will provide the group with the opportunity to accelerate some of its growth plans and thereby shareholder value," Parity Executive Chair Mark Braund says.
Current stock price: 6.50 pence, up 4.0% on Friday morning in London.
12-month change: down 3.7%
By Jaskeet Briah, Alliance News reporter
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