Issue of Options to PDMR

Cordel Group PLC

09 August 2024

 

9 August 2024

Cordel Group PLC

("Cordel" or the "Company" or the "Group")

Issue of Options to PDMR

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, announces the grant of options to Michael Turner, Chief Revenue Officer, under the Company's Enterprise Management Incentive ("EMI") plan, as detailed below:

Date of grant	Name	Position	Options	Exercise price*
08.08.24	Michael Turner	Chief Revenue Officer (PDMR)	500,000	4.4p

The options will fully vest subject to the achievement of the Group revenue target for the financial year ending 30 June 2025. At 90% of that revenue target, 80% of the options will vest and between 90-100% of target, the options vesting will be pro-rated between 80% and 100%.

Following this grant, Michael Turner has 3,170,000 of outstanding options.

* Cordel average closing price for 5-day period prior to grant

Enquiries:

Cordel Group PLC		c/o Cavendish
Ian Buddery, Chairman John Davis, Interim Chief Executive Officer
Cavendish Capital Markets Limited, Broker	[phone]
Marc Milmo / George Dollemore / 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

PDMR Notification Form:

The notification below is made in accordance with the requirements of the Market Abuse Regulation:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Turner
2	Reason for the notification
a)	Position/status	PDMR - Chief Revenue Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cordel Group plc
b)	LEI	213800ZUBMOCVHSSJC14
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 £0.01 nominal value each ISIN: GB00BYZQM590
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			4.4p	500,000
d)	Aggregated information	N/a - single transaction
e)	Date of the transaction	9 August 2024
f)	Place of the transaction	Off Exchange

 

END