REG - Corero Network Sec. - Director Subscription, Grant of Options and TVR

Corero Network SecurityAnnouncement

15/11/2023 07:00

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RNS Number : 4570T  Corero Network Security PLC  15 November 2023

 

15 November 2023

Corero Network Security plc

("Corero", or "the Company")

 

Director Subscription, Grant of Options and Total Voting Rights

 

Corero Network Security plc (AIM: CNS), is pleased to announce that, further
to the announcement on 13 November 2023, Carl Herberger, CEO Designate of the
Company has entered into a subscription agreement to acquire 1,344,497 new
Corero shares at a price of 9.0 pence per share.

 

In addition to this, Carl has been granted a matching share option award of
4,033,492 options over new ordinary shares with an exercise price of 9.0
pence, and as a part of Carl's overall CEO compensation, he has also been
granted 7,500,000 options with an exercise price of 9.0 pence (together, the
"Options"). The Options have a three-year vesting period, vesting one third on
the first anniversary of grant, one third on the second anniversary of grant
and one third on the third anniversary of grant. Shares acquired on the
exercise of an option may not be sold until the expiry of the second
anniversary following the date of option grant.

 

Following the subscription, Carl Herberger's holding in the Company will be
1,344,497 shares, representing 0.27% of the Company's enlarged issued share
capital.

 

Application has been made for the 1,344,497 new Ordinary Shares to be admitted
to trading on AIM ("Admission") and it is expected that Admission will become
effective on 20 November 2023.

 

Following Admission, the total issued share capital of the Company with voting
rights will be 501,528,468 Ordinary Shares. This figure may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

 

Enquiries:

 Corero Network Security plc                                 Tel: +44 (0) 20 7390 0230

 Jens Montanana, Executive Chairman

 Phil Richards, CFO

                                                             Tel: +44 (0) 20 7523 8000

 Canaccord Genuity Limited (Nominated Adviser and Broker)

 Simon Bridges / Andrew Potts / Harry Rees

                                                             Tel: +44 (0) 20 7390 0230

 Vigo Consulting

 Jeremy Garcia / Kendall Hill

 

About Corero Network Security

Corero Network Security plc is a global leader in real-time, high-performance,
automatic DDoS cyber defense solutions. Both Service and Hosting providers,
alongside digital enterprises across the globe rely on Corero's award winning
cybersecurity technology to eliminate the threat of Distributed Denial of
Service (DDoS) to their digital environment through automatic attack detection
and mitigation, coupled with network visibility, analytics and reporting.

 

Corero's industry leading SmartWall and SecureWatch technology provides
scalable protection capabilities against external DDoS attackers and internal
DDoS botnets in the most complex edge and subscriber environments, while
enabling a more cost-effective economic model than previously available.
Corero's key operational centers located in Marlborough, Massachusetts, USA
and Edinburgh, UK, with the Company's headquarters in London, UK. The Company
is listed on the London Stock Exchange's AIM market under the ticker CNS. For
more information, visit www.corero.com (http://www.corero.com/) .

 

This announcement, including the notification below, is made in accordance
with the requirements of the EU Market Abuse Regulation.

 

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

 1.  Details of the Person discharging managerial responsibilities ("PDMR") /
     person closely associated with them ("PCA")
 a)  Name                                     Carl Herberger
 2.  Reason for the notification
 a)  Position / status                        Chief Executive Officer Designate
 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)  Legal Entity Identifier                  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  Ordinary Shares

                                              GB00B1GVQH21
 b)  Nature of the transaction                Purchase of shares and grant of options

 c)  Price(s) and volume(s)                   Purchase of shares

Price(s)   Volume(s)
                                              9.0 pence  1,344,497

 

                                              Grant of options

Exercise Price(s)  Volume(s)
                                              9.0 pence          11,533,492

 d)  Aggregated information                    Not applicable

     -  Aggregated volume

     -  Aggregated price

     -  Aggregated total
 e)  Date of the transaction                  13 November 2023
 f)  Place of the transaction                 London Stock Exchange

 

Grant of options

 Exercise Price(s)  Volume(s)
 9.0 pence          11,533,492

d)

Aggregated information

-  Aggregated volume

-  Aggregated price

-  Aggregated total

 Not applicable

e)

Date of the transaction

13 November 2023

f)

Place of the transaction

London Stock Exchange

 

 

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