26th Jan 2006 07:01
Parity Group PLC26 January 2006 26 January 2006 Parity Group plc ("Parity" or the "Company") Parity announces that on 25 January 2006 it received notification that DominickCompany AG ("Dominick Company") is materially interested in 67,738,936 ordinaryParity shares representing 23.46% of the Company's issued share capital.Dominick Company has this interest by virtue of a pledge which was granted toDominick Company by one of its customers to secure financial facilities madeavailable to that customer through which the shares were acquired. SpearheadLimited, Inc. ("Spearhead") had announced on 16 December 2005 that it was thebeneficial owner of 67,438,936 Parity shares. Dominick Company is a Swiss based private bank which provides a range of privateand investment banking services. In the light of the above notification, Parity will seek clarification of thesituation and Spearhead's intentions further to Spearhead's announcement on 9January 2006 that it is considering the possibility of making an offer for theCompany. Parity has met with the advisers to Dominick Company who have confirmed thatDominick Company is supportive of the current management of Parity. Parityintends to have further discussions with Dominick Company in the coming weeks aspart of its overall discussions with shareholders regarding the proposedstrengthening of its balance sheet referred to in the announcement by theCompany on 9 December 2005. Enquiries: Financial Dynamics - 020 7831 3113 Giles SandersonHarriet KeenCass Helstrip Arbuthnot Securities - 020 7012 2000Alastair MoretonAndrew Fullerton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
PTY.L