Corero Network Security PLC Cancellation and Grant of Options (3694Q)
June 05 2018 - 7:08AM
UK Regulatory
TIDMCNS
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 Number Number Relevant Subsequent
Existing of Existing of Regrant scheme number
CP Share CP Share CP Share under of CP
Options Options Options which Share
held prior cancelled granted the Regrant Options
to the cancellation CP Share held
and grant Options
of New Options have been
granted
Executive
Andrew Miller CFO 4,415,000 2,356,000 2,356,000 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/ Initial Notification
Amendment
--------------------------- ---------------------------------------------------------
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 Ordinary Shares of 1p each
the financial
instrument, type
of instrument
ISIN: GB00B54X0432
Identification
Code
--------------------------- ---------------------------------------------------------
b. Nature of the Grant of share options
transaction
--------------------------- ---------------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
--------------------------- ------------
Nil 425,000
-------------------------------------------------- ------------
d. Aggregated information
- Aggregated Volume N/A - single transaction
- Price
--------------------------- ---------------------------------------------------------
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/ Initial Notification
Amendment
--------------------------- -------------------------------------------------------
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 Ordinary Shares of 1p each
the financial
instrument, type
of instrument
ISIN: GB00B54X0432
Identification
Code
--------------------------- -------------------------------------------------------
b. Nature of the Grant of share options
transaction
--------------------------- -------------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
--------------------------- ------------
Nil 2,356,000
-------------------------------------------------- -----------
d. Aggregated information
- Aggregated Volume N/A - single transaction
- Price
--------------------------- -------------------------------------------------------
e. Date of the transaction 5 June 2018
--------------------------- -------------------------------------------------------
f. Place of the transaction N/A
--------------------------- -------------------------------------------------------
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 or visit www.rns.com.
END
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