REG - Cordel Group PLC - Variation of PDMR Option Vesting conditions

CordelAnnouncement

03/06/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250603:nRSC0523La&default-theme=true

RNS Number : 0523L  Cordel Group PLC  03 June 2025

3 June 2025

Cordel Group PLC

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

 

Variation of PDMR Option Vesting conditions

 

 

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for
transport corridor analytics, announces a variation to the vesting conditions
of Chief Revenue Officer Mike Turner's existing unvested options to align
with the Company's 2025 Fiscal Year ('FY25') Bookings Target.

 

The Bookings Target is the total value of multi-year recurring revenue
contracts signed up to 30 June 2025.  These contracts underpin the
Company's long term shareholder value growth objectives.

 

Mike Turner has two, previously announced, tranches of options of 500,000
each: Tranche 2 announced 6 February 2024 and Tranche 3 announced 8 August
2024, both vesting against achievement of the Group revenue target for FY25.
These will now vest upon achievement of the FY25 Bookings Target.

 

Ian Buddery, Chair of Cordel, commented:

"Securing multi-year recurring revenue contracts, particularly involving
Positive Train Control ('PTC') is of vital importance to our long term growth
plan.  Realigning Mike's incentive to bookings is more aligned to our
priorities."

 

 

 

Enquiries:

 

 Cordel Group PLC                            c/o Cavendish Capital Markets Limited
 Ian Buddery, Chairman

 John Davis, CEO

 Cavendish Capital Markets Limited, Broker   +44 (0)20 3829 5000
 Marc Milmo (Corporate Finance)

 Sunila de Silva (Corporate Broking)

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

 Richard Johnson / James Bellman

 

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/)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAFKAESESEFA