REG - Cordel Group PLC - Issue of Options to PDMR

CordelAnnouncement

07/02/2024 07:00

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RNS Number : 2118C  Cordel Group PLC  07 February 2024

7 February 2024

Cordel Group PLC

("Cordel" or the "Company" or the "Group")

 

Issue of Options to PDMR

 

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, announces the grant of options to Michael
Turner, Chief Revenue Officer, under the Company's Enterprise Management
Incentive ("EMI") plan, as detailed below:

 Date of grant  Name            Position                      Options    Exercise price*
 06.02.24       Michael Turner  Chief Revenue Officer (PDMR)  1,000,000  4.3p

 

 

The options will vest in two tranches subject to the satisfaction of
performance criteria linked to the achievement of Group revenue targets, as
follows:

-     Tranche 1 - 500,000 options will vest upon achievement of the Group
revenue target for the financial year ending 30 June 2024; and

-     Tranche 2 - 500,000 options will vest upon achievement of £500,000
above the Group revenue target for the financial year ending 30 June 2024; or,
if this target is not met,  Tranche 2 500,000 options will vest upon
achievement of the Group revenue target for the financial year ending 30 June
2025.

 

* Cordel average closing price for 5-day period prior to grant

 

Enquiries:

 

 Cordel Group PLC                              c/o Zeus
 Ian Buddery, Chairman

 John Davis, Interim Chief Executive Officer

 Zeus Capital Limited Broker                   +44 (0)20 3829 5000
 Simon Johnson / Alexandra Campbell-Harris

 Strand Hanson Limited Nominated Adviser       +44 (0)20 7409 3494

 Richard Johnson / James Bellman

 

About Cordel

Cordel offers a patented cloud-based platform for master data management and
business analytics, together with specialist hardware and software for
capturing, analysing and reporting on large datasets within the transport
sector, employing sophisticated artificial intelligence algorithms.

Further information on the Company is available at: www.cordel.ai
(http://www.cordel.ai)

PDMR Notification Form:

The notification below is made in accordance with the requirements of the
Market Abuse Regulation:

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Michael Turner
 2    Reason for the notification
 a)   Position/status                                              PDMR - Chief Revenue Officer

 b)   Initial notification /Amendment                              Initial notification
 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer

      or auction monitor
 a)   Name                                                         Cordel Group plc
 b)   LEI                                                          213800ZUBMOCVHSSJC14
 4    Details of the transaction(s): section to be repeated for (i) each type of
      instrument;

      (ii) each type of transaction; (iii) each date; and (iv) each place where
      transactions have been conducted
 a)   Description of the financial instrument, type of instrument  ordinary shares of £0.01 nominal value each

      Identification code                                          ISIN: GB00BYZQM590
 b)   Nature of the transaction                                    Issue of options
 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     4.3p              1,000,000

 d)   Aggregated information                                       N/a - single transaction
 e)   Date of the transaction                                      6 February 2024
 f)   Place of the transaction                                     Off Exchange

 

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