REG - Cordel Group PLC - Issue of Options to PDMR

CordelAnnouncement

09/08/2024 07:00

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RNS Number : 8149Z  Cordel Group PLC  09 August 2024

9 August 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*
 08.08.24       Michael Turner  Chief Revenue Officer (PDMR)  500,000  4.4p

 

 

The options will fully vest subject to the achievement of the Group revenue
target for the financial year ending 30 June 2025. At 90% of that revenue
target, 80% of the options will vest and between 90-100% of target, the
options vesting will be pro-rated between 80% and 100%.

 

Following this grant, Michael Turner has 3,170,000 of outstanding options.

 

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

 

Enquiries:

 

 Cordel Group PLC                                                                        c/o Cavendish
 Ian Buddery, Chairman

 John Davis, Interim Chief Executive Officer

 Cavendish Capital Markets Limited, Broker                      +44 (0)20 7908 6000
 Marc Milmo / George Dollemore / Rory Sale (Corporate Finance)

 Sunila de Silva (ECM)

 Strand Hanson Limited, Nominated Adviser

 Richard Johnson / James Bellman                                +44 (0)20 7409 3494

About Cordel

Cordel produces 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                                    Grant of options
 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     4.4p              500,000

 d)   Aggregated information                                       N/a - single transaction
 e)   Date of the transaction                                      9 August 2024
 f)   Place of the transaction                                     Off Exchange

 

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