Corero Network Security PLC Posting of Circular and Director's Subscriptions (9736J)

TIDMCNS

RNS Number : 9736J

Corero Network Security PLC

05 April 2018

5 April 2018

Corero Network Security plc

("Corero," the "Company" or the 'Group')

Posting of Circular and Director's Subscriptions

Corero (AIM: CNS), the listed network security company, announces that the circular to shareholders containing details of the placing and subscription announced on 5 April 2018 (the "Circular") has today been posted to shareholders. A copy of the Circular is available on the Company's website at https://www.corero.com/investors/company-documents.

In addition, the Company confirms that Jens Montanana, Andrew Lloyd and Richard Last, each a Director of the Company, have entered into Subscription Agreements. The interests of the Directors on 4 April 2018 (being the last practicable date prior to publication of this announcement) are, and immediately following Admission will be, as follows:

 
 Director                 Number of        Number of      Resulting          Resulting 
                           Ordinary     New Ordinary      number of            holding 
                        Shares held        Shares to       Ordinary    as a percentage 
                         on 4 April    be subscribed    Shares held    of the Enlarged 
                        2018 (being       for in the    immediately      Share Capital 
                           the last     Subscription      following 
                        practicable                       Admission 
                         date prior 
                    to publication) 
----------------  -----------------  ---------------  -------------  ----------------- 
 Jens Montanana        138,000,000*     16,382,609**    154,382,609             40.10% 
----------------  -----------------  ---------------  -------------  ----------------- 
 Andrew 
  Lloyd                     300,000          100,000        400,000              0.10% 
----------------  -----------------  ---------------  -------------  ----------------- 
 Richard 
  Last                    1,316,667          683,333      2,000,000              0.52% 
----------------  -----------------  ---------------  -------------  ----------------- 
 Total                  139,616,667       17,165,942    156,782,609             40.72% 
----------------  -----------------  ---------------  -------------  ----------------- 
 

*of which 25,987,899 Ordinary Shares are held in the name of JPM International Limited, which is wholly owned by Jens Montanana, and 94,258,302 Ordinary Shares are held in the name of The New Millennium Technology Trust of which Jens Montanana is a beneficiary.

** which will be subscribed for by Jens Montanana in his personal capacity or JPM International Limited, which is wholly owned by Jens Montanana, or by The New Millennium Technology Trust of which Jens Montanana is a beneficiary.

Enquiries:

   Corero Network Security plc                                                  Tel: [phone] 

Andrew Miller, CFO

Cenkos Securities plc Tel: [phone]

Mark Connelly / Bobbie Hilliam - NOMAD

Michael Johnson - Sales

   Vigo Communications                                                            Tel: [phone] 

Jeremy Garcia / Ben Simons

[e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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April 05, 2018 06:53 ET (10:53 GMT)