Grant of Options

RNS Number : 9093G
Corero Network Security PLC
13 May 2014
 



13 May 2014

Corero Network Security plc

("Corero", the "Company" or the "Group")

 

Grant of Options

 

Corero Network Security plc (AIM: CNS), a leading provider of First Line of Defense® security solutions, announces that on 12 May 2014, a number of options were granted over new ordinary shares to employees and management of the Company ("Options" and "Ordinary Shares") for their continuing incentivisation, including a total of 2,510,000 Options granted to directors of the Company, as set out below.



Options granted

Relevant Option scheme

Subsequent number of Options held






Ashley Stephenson

Chief Executive Officer

1,720,000

Unapproved

2,300,000






Andrew Miller

Chief Financial Officer

750,000

Unapproved / Executive EMI

1,696,000






Andrew Lloyd

Non-executive Director

40,000

Unapproved

100,000






"Unapproved" = Corero Unapproved Share Option Plan



"Executive EMI" = Corero Executive EMI Scheme



 

The Options carry an exercise price of 25p and vest in equal proportions on the first, second and third anniversaries of being granted. Any Ordinary Shares issued pursuant to the exercise of the Options may not be sold or otherwise transferred until the second anniversary of the date of being granted. There are no performance conditions associated to the vesting or exercise of the Options.

 

Enquiries:

 

Corero Network Security plc


Andrew Miller, CFO and Chief Operating Officer

Tel: 01895 876382



FinnCap


Stuart Andrews/Henrik Persson (corporate finance)

Tel: 020 7220 0500

Simon Johnson/Stephen Norcross (corporate broking)




Walbrook PR

Tel: 020 7933 8780

Bob Huxford/Helen Cresswell (Media Relations)


Paul Cornelius (Investor Relations)


 

About Corero Network Security

 

Corero Network Security, an organization's First Line of Defense® against DDoS (Distributed Denial of Service) attacks and cyber threats, is a pioneer in global network security. Corero products and services provide Online Enterprises, Service Providers, Hosting Providers, and Managed Security Service Providers with an additional layer of security capable of inspecting Internet traffic and enforcing real-time access and monitoring policies designed to match the needs of the protected business. Corero technology enhances any defense-in-depth security architecture with a scalable, flexible and responsive defence against DDoS attacks and cyber threats before they reach the targeted IT infrastructure allowing online services to perform as intended. For more information, visit www.corero.com.  

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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