Director Subscription, Grant of Options and TVR

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 Jens Montanana, Executive Chairman Phil Richards, CFO	Tel: [phone]
Canaccord Genuity Limited (Nominated Adviser and Broker) Simon Bridges / Andrew Potts / Harry Rees	Tel: [phone]
Vigo Consulting Jeremy Garcia / Kendall Hill	Tel: [phone]

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.

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 -  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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