Business
Issue of Options to PDMR
Issue of Options to PDMR.
About this update from Cordel Group Plc
[{"type":"text","content":"\n\n9 August 2024\nCordel Group PLC\n(\"Cordel\" or the \"Company\" or the \"Group\")\n \nIssue of Options to PDMR\n \nCordel 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:\n\n\n\n\n\nDate of grant\n\n\nName\n\n\nPosition\n\n\nOptions\n\n\nExercise price*\n\n\n\n\n08.08.24\n\n\nMichael Turner\n\n\nChief Revenue Officer (PDMR)\n\n\n500,000\n\n\n4.4p\n\n\n\n\n \n \nThe 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%.\n \nFollowing this grant, Michael Turner has 3,170,000 of outstanding options.\n \n* Cordel average closing price for 5-day period prior to grant\n \nEnquiries:\n \n\n\n\n\nCordel Group PLC\n\n\nc/o Cavendish\n\n\n\n\nIan Buddery, Chairman\nJohn Davis, Interim Chief Executive Officer\n \n\n\n\n\n\n\n\n \nCavendish Capital Markets Limited, Broker\n\n\n \n+44 (0)20 7908 6000\n\n\n \n\n\n\n\nMarc Milmo / George Dollemore / Rory Sale (Corporate Finance)\nSunila de Silva (ECM)\nStrand Hanson Limited, Nominated Adviser\nRichard Johnson / James Bellman\n\n\n \n \n \n+44 (0)20 7409 3494\n \n\n\n \n\n\n\n\n\n\n\n\n\n\nAbout Cordel\nCordel produces specialist hardware and software for capturing, analysing and reporting on large datasets within the transport sector, employing sophisticated artificial intelligence algorithms.\n \nFurther information on the Company is available at: www.cordel.ai\nPDMR Notification Form:\nThe notification below is made in accordance with the requirements of the Market Abuse Regulation:\n\n\n\n\n1\n\n\nDetails of the person discharging managerial responsibilities / person closely associated\n\n\n\n\na)\n\n\nName\n\n\nMichael Turner\n\n\n\n\n2\n\n\nReason for the notification\n\n\n\n\na)\n\n\nPosition/status\n\n\nPDMR - Chief Revenue Officer\n \n\n\n\n\nb)\n\n\nInitial notification /Amendment\n\n\nInitial notification\n\n\n\n\n3\n\n\nDetails of the issuer, emission allowanc...