Completion of Placing to raise £1.0m and TR-1

Cordel Group PLC

03 October 2024

 

3 October 2024

Cordel Group plc

("Cordel" or the "Company")

Completion of Placing to raise £1.0 million

TR-1: Standard form for notification of major holdings

Further to completion of the Placing, successfully raising £1.0 million (gross) through the issue of 15,384,616 new Ordinary Shares at 6.5p per share (a premium to the then prevailing share price), and Admission of the Placing Shares on 1 October 2024, Cordel Group plc (AIM: CRDL), the Artificial Intelligence ("AI") platform for transport corridor analytics, notifies the increased shareholding disclosure by Rathbones Investment Management Limited, set out below.

Defined terms in this announcement shall have the same meaning as in the Company's announcement on 26 September 2024, unless defined otherwise.

1. Issuer Details

ISIN

GB00BYZQM590

Issuer Name

CORDEL GROUP PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Rathbones Investment Management Ltd

City of registered office (if applicable)

London

Country of registered office (if applicable)

United Kingdom

4. Details of the shareholder

Name	City of registered office	Country of registered office
Rathbone Nominees Limited	London	United Kingdom

5. Date on which the threshold was crossed or reached

01-Oct-2024

6. Date on which Issuer notified

02-Oct-2024

7. Total positions of person(s) subject to the notification obligation

	% of voting rights attached to shares (total of 8.A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached	9.524600	0.000000	9.524600	20465874
Position of previous notification (if applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible)	Number of direct voting rights (DTR5.1)	Number of indirect voting rights (DTR5.2.1)	% of direct voting rights (DTR5.1)	% of indirect voting rights (DTR5.2.1)
GB00BYZQM590		20465874		9.524600
Sub Total 8.A	20465874		9.524600%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument	Expiration date	Exercise/conversion period	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
Sub Total 8.B1

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument	Expiration date	Exercise/conversion period	Physical or cash settlement	Number of voting rights	% of voting rights
Sub Total 8.B2

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

Ultimate controlling person	Name of controlled undertaking	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Rathbones Group Plc	Rathbones Investment Management Limited	9.524600		9.524600%

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

None

12. Date of Completion

02-Oct-2024

13. Place Of Completion

Port of Liverpool Building, Liverpool L3 1NW

Enquiries:

Cordel Group PLC	C/o Strand Hanson
Ian Buddery, Chairman John Davis, Chief Executive Officer
Cavendish Capital Markets Limited, Broker	[phone]
Marc Milmo / Rory Sale (Corporate Finance) Sunila de Silva (ECM) Strand Hanson Limited, Nominated Adviser Richard Johnson / James Bellman	[phone]

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

 

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