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: [phone]
FinnCap
Stuart Andrews/Henrik Persson (corporate finance)		Tel: [phone]
Simon Johnson/Stephen Norcross (corporate broking)
Walbrook PR		Tel: [phone]
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.  

 

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