Grant of Options

RNS Number : 5460B

Corero Network Security PLC

04 April 2013

 



Corero Network Security plc

("Corero" or the "Company")

Grant of Options

Corero Network Security plc (AIM: CNS), the network security and business software provider, announces that on 3 April 2013, the Company granted a number of options over new ordinary shares to employees and management of the Company ("Options" and "Ordinary Shares") for their continuing incentivisation, including a total of 450,000 Options granted to directors of the Company, as set out below.

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 third anniversary of the date of being granted.  There are no performance conditions associated to the vesting or exercise of the Options.

	Options granted	Relevant Option scheme	Subsequent number of Options held
Jens Montanana	80,000	Unapproved	275,000
Richard Last	60,000	Unapproved	80,000
Andrew Lloyd	60,000	Unapproved	60,000
Andrew Miller	250,000	Executive EMI	806,000
"Unapproved" = Corero Unapproved Share Option Plan
"Executive EMI"  = Corero Executive EMI Scheme

Enquiries:

Corero Network Security plc
Andrew Miller, Chief Operating Officer	Tel: [phone]
finnCap
Stuart Andrews / Henrik Persson (corporate finance) Simon Johnson / Stephen Norcross (corporate broking)		Tel: [phone]
Walbrook PR	Tel: [phone]
Bob Huxford / Helen Westaway  (Media Relations)
Paul Cornelius (Investor Relations)

About Corero Network Security plc

Corero Network Security plc consists of two businesses: Corero Network Security and Corero Business Systems.

Corero Network Security is an international network security company and a leading provider of next generation securitysolutions. Deployed as a First Line of Defense (FLoD) solution, Corero's products and services sit outside of a client's network, effectively stopping unwanted traffic (including Distributed Denial of Service ("DDoS") cyber-attacks) from reaching and overwhelming firewalls and other infrastructure components, such that good customer traffic can flow unimpeded.

Corero's First Line of Defense solution utilises sophisticated techniques and technologies to block malicious traffic to stop DDoS and other advanced cyber-attacks before they enter an organisation's IT infrastructure.  This First Line of Defense solution helps customers worldwide, including enterprises, service providers and government organisations safeguard their IT infrastructure and eliminate downtime, ultimately protecting their bottom line.

Corero Business Systems is a leading provider of accounting, human resources, payroll and management information software to the schools (including academies) and further education and commercial sectors in the UK and internationally. 

Corero's proprietary software solutions include:

•     Resource Financials & HR - a finance and HR management solution delivering web-enabled and workflow controlled business processes.

•     Resource EMS - a student record and learner management information solution for the post 16 education sector.

Corero Resource Financials & HR software won The UK Business Software Industry Software Satisfaction Awards 2012 in the category of Accounting & Finance (corporate).

 

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