17 April 2024
Corero
Network Security plc
("Corero", or "the Company")
Directorate
Changes
Corero Network Security plc (AIM:
CNS) (OTCQB: DDOSF), the specialists in distributed denial of
service ("DDoS") protection
solutions, is pleased to announce the appointment of Robert Scott
as a Non-Executive Director of the Company with immediate
effect.
Rob, who is based in the USA, is a
30-year network security industry professional and is currently the
Chief Strategy Officer of Silversky, Inc., a provider of
cybersecurity managed services, alongside
serving as the Chairman of AssetPass, a disruptive fintech startup.
Rob is also on the Customer Advisory Board of Fortinet, a global
leader in cybersecurity.
Previously, Rob served as CEO of
Cygilant, Inc., a provider of cybersecurity services specialising
in helping organisations hunt, detect and respond to cyberthreats;
Bradford Networks, a network security company acquired by Fortinet;
and Clique Intelligence, a software platform for data sharing and
collaboration technologies. Rob also served as Vice President of
Worldwide Sales and Marketing at HP ProCurve Networking, having
joined the company through its 2008 acquisition of Colubris
Networks Inc., where he held the positions of President and
CEO.
Peter George, who was appointed a
Non-Executive Director of the Company in January 2019, will be
stepping down from the Board at the Company's AGM in June 2024 to
focus on his executive responsibilities at Evolv
Technology.
Rob has been granted 750,000 options
with an exercise price of 11.75 pence (the "Options"). The Options have a
three-year vesting period, vesting one third on the first
anniversary of grant, one third on the second anniversary of grant
and one third on the third anniversary of grant. Shares acquired on
the exercise of an option may not be sold until the expiry of the
second anniversary following the date of option grant.
Jens Montanana, Non-Executive Chairman,
commented:
"I
am delighted to welcome Rob Scott to Corero. Rob brings many years
of relevant international security experience which will be of
considerable benefit to both the executive team and the Company as
a whole. Appointing a director of Rob's calibre further serves to
demonstrate Corero's global appeal and reputation within our
marketplace.
"I
would like to extend my sincere gratitude to Peter George for his
significant contribution to Corero over the five and a half years
he has served as a Non-Executive Director. Peter is stepping down
from the Board to enable him to focus on his CEO role, and we wish
him all the best in this endeavour."
The following disclosures in
relation to Robert Scott, aged 69,
are made in accordance with Schedule 2(g) and Rule
17 of the AIM Rules:
Current Directorships/Partnerships
|
Past Directorships/Partnerships (5 years)
|
Let's Go Racing Global
LLC
|
Ramp Holdings Inc.
|
Avidbank Holdings, Inc.
|
|
Trillio Data Inc.
|
|
This announcement, including the
notification below, is made in accordance with the requirements of
the EU Market Abuse Regulation.
Notification of a Transaction pursuant to Article 19(1) of
Regulation (EU) No. 596/2014
1.
|
Details of the Person discharging managerial responsibilities
("PDMR") / person closely associated with them
("PCA")
|
a)
|
Name
|
Robert Scott
|
2.
|
Reason for the notification
|
a)
|
Position / status
|
Non-Executive Director
|
b)
|
Initial notification /
amendment
|
Initial notification
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Corero Network Security
plc
|
b)
|
Legal Entity Identifier
|
2138001EVYT2OI1C4Y98
|
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
|
Ordinary Shares
GB00B1GVQH21
|
b)
|
Nature of the transaction
|
Purchase of shares and grant of
options
|
c)
|
Price(s) and volume(s)
|
Grant of options
Exercise Price(s)
|
Volume(s)
|
11.75 pence
|
750,000
|
|
d)
|
Aggregated information
- Aggregated
volume
- Aggregated
price
- Aggregated
total
|
Not applicable
|
e)
|
Date of the transaction
|
16 April 2024
|
f)
|
Place of the transaction
|
London Stock Exchange
|
Enquiries:
Corero Network Security plc
Carl Herberger, CEO
Phil Richards, CFO
|
Tel: +44
(0) 20 7390 0230
|
Canaccord Genuity Limited (Nominated Adviser and
Broker)
Simon Bridges / Andrew Potts / Harry
Rees
|
Tel: +44
(0) 20 7523 8000
|
Vigo
Consulting
Jeremy Garcia / Kendall
Hill
|
Tel: +44
(0) 20 7390 0230
|
About Corero Network
Security
Corero Network Security is a leading
provider of distributed denial of
service (DDoS) protection solutions. We are
specialists in automatic detection and protection solutions, that
include network visibility, analytics, and reporting tools.
Corero's technology provides scalable protection capabilities
against both external DDoS attackers and
internal DDoS threats, in even the most complex edge and
subscriber environments, ensuring internet service availability and
uptime. Corero's key operational centres are in Marlborough,
Massachusetts, USA, and Edinburgh, UK, with the Company's
headquarters in London, UK. The Company is listed on the London
Stock Exchange's AIM market under the ticker CNS and the US OTCQB
market (OTCQB: DDOSF).
For more information, visit www.corero.com, and
follow us on LinkedIn and Twitter.