Issue of Options to PDMR's

RNS Number : 1552V

Cordel Group PLC

03 April 2023

 

3 April 2023

Cordel Group PLC

("Cordel" or the "Company" or the "Group")

Issue of Options to PDMR's

Cordel Group PLC (AIM: CRDL), the Artificial Intelligence platform for transport corridor analytics, announces the grant of options to John Davis, Interim CEO, and to Michael Turner, Chief Revenue Officer, under the Company's Enterprise Management Incentive ("EMI") plan, as detailed below:

Date of grant	Name	Position	Options	Exercise price*	Vesting period
03.04.23	John Davis	Interim CEO	250,000	6.25p	Ratably over 4 years, commencing 03.04.23
03.04.23	Michael Turner	Chief Revenue Officer (PDMR)	170,000	6.25p	Ratably over 4 years, commencing 03.04.23

* Cordel closing price on day prior to grant

Enquiries:

Cordel Group PLC	c/o Zeus
Ian Buddery, Chairman John Davis, Interim Chief Executive Officer
Zeus Capital Limited Broker	[phone]
Simon Johnson / Alexandra Campbell-Harris Strand Hanson Limited Nominated Advisor Richard Johnson / James Bellman	[phone]

About Cordel

Cordel produces specialist hardware and software for capturing, analysing and reporting on large datasets within the transport sector, employing sophisticated artificial intelligence algorithms.

Further information on the Company is available at: www.cordel.ai

PDMR Notification Form:

The notification below is made in accordance with the requirements of the Market Abuse Regulation:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Davis
2	Reason for the notification
a)	Position/status	Interim Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cordel Group plc
b)	LEI	213800ZUBMOCVHSSJC14
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	ordinary shares of £0.01 nominal value each ISIN: GB00BYZQM590
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			6.25p	250,000
d)	Aggregated information	N/a - single transaction
e)	Date of the transaction	3 April 2023
f)	Place of the transaction	Off Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Turner
2	Reason for the notification
a)	Position/status	PDMR - Chief Revenue Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cordel Group plc
b)	LEI	213800ZUBMOCVHSSJC14
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	ordinary shares of £0.01 nominal value each ISIN: GB00BYZQM590
b)	Nature of the transaction	Issue of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			6.25p	170,000
d)	Aggregated information	N/a - single transaction
e)	Date of the transaction	3 April 2023
f)	Place of the transaction	Off Exchange

 

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