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On April 3, 2023, Cordel Group PLC granted share options to John Davis, Interim CEO, and Michael Turner, Chief Revenue Officer, under its Enterprise Management Incentive plan. Mr. Davis received 250,000 options and Mr. Turner received 170,000 options, both at an exercise price of 6.25p. These options will vest ratably over a four-year period, commencing on the grant date.
| Date | 3 Apr 2023 |
| Time | 11:00:01 |
| Category | Director/PDMR dealings |
| ID | 1552V |
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:
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Date of grant |
Name |
Position |
Options |
Exercise price* |
Vesting period |
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03.04.23 |
John Davis |
Interim CEO |
250,000 |
6.25p |
Ratably over 4 years, commencing 03.04.23 |
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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:
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Cordel Group PLC |
c/o Zeus |
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Ian Buddery, Chairman John Davis, Interim Chief Executive Officer
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Zeus Capital Limited Broker |
+44 (0)20 3829 5000 |
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Simon Johnson / Alexandra Campbell-Harris Strand Hanson Limited Nominated Advisor Richard Johnson / James Bellman
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+44 (0)20 7409 3494
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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:
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
John Davis |
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2 |
Reason for the notification |
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a) |
Position/status |
Interim Chief Executive Officer |
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b) |
Initial notification /Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Cordel Group plc |
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b) |
LEI |
213800ZUBMOCVHSSJC14 |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
ordinary shares of £0.01 nominal value each ISIN: GB00BYZQM590 |
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b) |
Nature of the transaction |
Issue of options |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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6.25p |
250,000 |
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d) |
Aggregated information |
N/a - single transaction |
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e) |
Date of the transaction |
3 April 2023 |
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f) |
Place of the transaction |
Off Exchange |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Michael Turner |
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2 |
Reason for the notification |
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a) |
Position/status |
PDMR - Chief Revenue Officer |
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b) |
Initial notification /Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Cordel Group plc |
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b) |
LEI |
213800ZUBMOCVHSSJC14 |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
ordinary shares of £0.01 nominal value each ISIN: GB00BYZQM590 |
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b) |
Nature of the transaction |
Issue of options |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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6.25p |
170,000 |
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d) |
Aggregated information |
N/a - single transaction |
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e) |
Date of the transaction |
3 April 2023 |
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f) |
Place of the transaction |
Off Exchange |
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