REG - Corero Network Sec. - Cancellation and Grant of Options

Corero Network SecurityAnnouncement

05/06/2018 13:10

RNS Number : 3694Q
Corero Network Security PLC
05 June 2018
 


5 June 2018
Corero Network Security plc
("Corero," the "Company" or the 'Group')
Cancellation and Grant of Options



Corero Network Security plc (AIM: CNS), the AIM listed network security company, announces that pursuant to the announcement made by the Company on 10 May 2018, certain existing options over new ordinary shares of one pence each ("Ordinary Shares") granted to Jens Montanana and Andrew Miller ("Existing CP Share Options") have been cancelled and new options over the same number of new Ordinary Shares ("Regrant CP Share Options") have been granted to them at a revised exercise price as detailed below. The cancellation and regrant was approved by shareholders at today's AGM. Details of the cancellation of the Existing CP Share Options and the grant of Regrant CP Share Options is set out below. 
 



Name


Role


Number of Existing CP Share Options held prior to the cancellation and grant of New Options
 


Number of Existing CP Share Options cancelled


Number of Regrant CP Share Options granted


Relevant scheme under which the Regrant CP Share Options have been granted


Subsequent number of CP Share Options held
 
 




Andrew Miller


CFO


4,415,000


2,356,000


2,356,000


Executive EMI


4,415,000




Jens Montanana


Chairman


1,419,000


425,000


425,000


Unapproved


1,419,000



"Executive EMI" refers to the Corero Executive EMI Option Plan
"Unapproved" refers to the Corero Unapproved Share Option Plan
 
The Regrant CP Share Options carry an exercise price of 13.6 pence per Ordinary Share, being the weighted average price of the Company fundraises from 2010 up to 8 June 2017 (being the date in which certain share options of other directors and employees were cancelled and regranted as announced on 9 June 2017), and they will vest in equal proportions on 8 June 2018, 8 June 2019 and 8 June 2020 to match the vesting of the regrant share options granted to other directors and employees on 8 June 2017. Any new Ordinary Shares issued pursuant to the exercise of the Regrant CP Share Options may not be sold or otherwise transferred until 8 June 2019 being the second anniversary of the date of grant of the regrant share options to other directors and employees. There are no performance conditions associated to the vesting of the Regrant CP Share Options. 
 
Capitalised terms used in this announcement shall have the same meaning as those definitions set out in the Circular to shareholders dated 10 May 2018.
Enquiries:



Corero Network Security plc








Andrew Miller, CFO


Tel: 01895 876 382














Cenkos Securities plc


Tel: 020 7397 8900




Mark Connelly - NOMAD
Michael Johnson - Sales


















Vigo Communications


Tel: 020 7830 9703




Jeremy Garcia / Ben Simons
corero@vigocomms.com
 


          




 


Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014


 




 


1


Details of the person discharging managerial responsibilities/person closely associated


 




 


a.


Name


Jens Montanana


 




 


2


Reason for notification






 




 


a.


Position/Status


Chairman


 




 


b.


Initial notification/
Amendment


Initial Notification


 




 


3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor


 




 


a.


Name


Corero Network Security plc


 




 


b.


LEI


2138001EVYT2OI1C4Y98


 




 


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



Identification Code


Ordinary Shares of 1p each





ISIN: GB00B54X0432


 




 


b.


Nature of the transaction


Grant of share options


 




 


c.


Price(s) and volume(s)






















 




 






Price(s)


Volume(s)






 




 


 Nil


425,000






 




 






 




 


d.


Aggregated information
- Aggregated Volume
- Price


 
N/A - single transaction


 




 


e.


Date of the transaction


5 June 2018


 




 


f.


Place of the transaction


N/A


 

















 
 



Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014




1


Details of the person discharging managerial responsibilities/person closely associated




a.


Name


Andrew Miller




2


Reason for notification








a.


Position/Status


CFO




b.


Initial notification/
Amendment


Initial Notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a.


Name


Corero Network Security plc




b.


LEI


2138001EVYT2OI1C4Y98




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



Identification Code


Ordinary Shares of 1p each





ISIN: GB00B54X0432




b.


Nature of the transaction


Grant of share options




c.


Price(s) and volume(s)




























Price(s)


Volume(s)








Nil


2,356,000














d.


Aggregated information
- Aggregated Volume
- Price


 
N/A - single transaction




e.


Date of the transaction


5 June 2018




f.


Place of the transaction


N/A














 
 
 




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