REG - Corero Network Sec. - Directorate Change

Corero Network SecurityAnnouncement

17/04/2024 07:00

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RNS Number : 8777K  Corero Network Security PLC  17 April 2024

17 April 2024

Corero Network Security plc

("Corero", or "the Company")

 

Directorate Changes

 

Corero Network Security plc (AIM: CNS) (OTCQB: DDOSF), the specialists in
distributed denial of service ("DDoS") protection solutions, is pleased to
announce the appointment of Robert Scott as a Non-Executive Director of the
Company with immediate effect.

 

Rob, who is based in the USA, is a 30-year network security industry
professional and is currently the Chief Strategy Officer of Silversky, Inc., a
provider of cybersecurity managed services, alongside serving as the Chairman
of AssetPass, a disruptive fintech startup. Rob is also on the Customer
Advisory Board of Fortinet, a global leader in cybersecurity.

 

Previously, Rob served as CEO of Cygilant, Inc., a provider of cybersecurity
services specialising in helping organisations hunt, detect and respond to
cyberthreats; Bradford Networks, a network security company acquired by
Fortinet; and Clique Intelligence, a software platform for data sharing and
collaboration technologies. Rob also served as Vice President of Worldwide
Sales and Marketing at HP ProCurve Networking, having joined the company
through its 2008 acquisition of Colubris Networks Inc., where he held the
positions of President and CEO.

 

Peter George, who was appointed a Non-Executive Director of the Company in
January 2019, will be stepping down from the Board at the Company's AGM in
June 2024 to focus on his executive responsibilities at Evolv Technology.

 

Rob has been granted 750,000 options with an exercise price of 11.75 pence
(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.

 

Jens Montanana, Non-Executive Chairman, commented:

 

"I am delighted to welcome Rob Scott to Corero. Rob brings many years of
relevant international security experience which will be of considerable
benefit to both the executive team and the Company as a whole. Appointing a
director of Rob's calibre further serves to demonstrate Corero's global appeal
and reputation within our marketplace.

 

"I would like to extend my sincere gratitude to Peter George for his
significant contribution to Corero over the five and a half years he has
served as a Non-Executive Director. Peter is stepping down from the Board to
enable him to focus on his CEO role, and we wish him all the best in this
endeavour."

 

The following disclosures in relation to Robert Scott, aged 69, are made in
accordance with Schedule 2(g) and Rule 17 of the AIM Rules:

 

 Current Directorships/Partnerships  Past Directorships/Partnerships (5 years)
 Let's Go Racing Global LLC          Ramp Holdings Inc.
 Avidbank Holdings, Inc.
 Trillio Data Inc.

 

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                                     Robert Scott
 2.  Reason for the notification
 a)  Position / status                        Non-Executive Director
 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)                   Grant of options

Exercise Price(s)  Volume(s)
                                              11.75 pence        750,000

 d)  Aggregated information                    Not applicable

     -  Aggregated volume

     -  Aggregated price

     -  Aggregated total
 e)  Date of the transaction                  16 April 2024
 f)  Place of the transaction                 London Stock Exchange

d)

Aggregated information

-  Aggregated volume

-  Aggregated price

-  Aggregated total

 Not applicable

e)

Date of the transaction

16 April 2024

f)

Place of the transaction

London Stock Exchange

 

 

Enquiries:

 

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

 Carl Herberger, CEO

 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 is a leading provider of distributed denial of
service (DDoS) protection solutions. We are specialists in automatic
detection and protection solutions, that include network visibility,
analytics, and reporting tools. Corero's technology provides scalable
protection capabilities against both external DDoS attackers and
internal DDoS threats, in even the most complex edge and subscriber
environments, ensuring internet service availability and uptime. Corero's key
operational centres are 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 and the US OTCQB
market (OTCQB: DDOSF).

 

For more information, visit www.corero.com (http://www.corero.com) , and
follow us on LinkedIn (https://www.linkedin.com/company/corero/)
 and Twitter (https://twitter.com/Corero) .

 

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