Business
Reissue of Options
Reissue of Options.
About this update from Cordel Group Plc
[{"type":"text","content":"\n \n \n 21 July 2022\n \n \n Cordel Group PLC\n \n \n (\"Cordel\" or the \"Company\" or the \"Group\")\n \n \n \n \n \n \n Reissue of Options\n \n \n \n \n \n \n Cordel Group PLC (AIM: CRDL),\n the Artificial Intelligence platform for transport corridor analytics,\n announces the cancellation and re-issue\n to Michael Turner, Chief Revenue Officer,\n of 2,000,000 share options\n to subscribe for ordinary shares (\"Options\"),\n under the Company's Enterprise Management Incentive (\"EMI\") plan.\n \n \n \n \n \n Mr Turner was appointed as Chief Revenue Officer on 31 January 2022 and, following completion of his probationary period, is now deemed by the Company to be a PDMR. Options were granted to him on 2 February 2022, prior to him being deemed a PDMR, however due to an administrative oversight the required HMRC notification was not completed and the Options no longer qualify for EMI benefits.\n \n \n \n \n \n After receiving advice from the Company's auditors, the Company has cancelled and re-issued the Options on the unchanged terms, as set out below:\n \n \n \n \n \n \n \n \n \n Date of grant\n \n \n \n \n Name\n \n \n \n \n Position\n \n \n \n \n Options\n \n \n \n \n Exercise price*\n \n \n \n \n Vesting period\n \n \n \n \n \n \n 20.07.22\n \n \n \n \n Michael Turner\n \n \n \n \n Chief Revenue Officer (PDMR)\n \n \n \n \n 2,000,000\n \n \n \n \n 8.25p\n \n \n \n \n Over 4 years, commencing 02.02.23\n \n \n \n \n \n \n \n \n \n \n \n \n \n * Cordel closing price on day prior to original grant\n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n Cordel Group PLC\n \n \n \n \n c/o SEC Newgate\n \n \n \n \n \n \n Ian Buddery, Chairman\n \n \n Nick Smith, CEO\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Arden Partners plc Broker\n \n \n \n \n +44 (0)20 7614 5900\n \n \n \n \n \n \n Ruari McGirr\n \n \n \n \n \n Strand Hanson Limited Nominated Advisor\n \n \n Richard Johnson / James Bellman\n \n \n \n \n \n \n \n \n \n \n \n \n \n +44 (0)20\n 7409 3494\n \n \n \n \n \n \n \n \n \n SEC Newgate (Financial PR)\n \n \n \n \n +44 (0)7540 106366\n \n \n \n \n \n \n Robin Tozer / Bob Huxford / George Esmond\n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n About Cordel\n \n \n Cordel produces specialist hardwa...