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Posting of Circular and Director's Subscription

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RNS Number : 5755U
Corero Network Security PLC
25 November 2019
 

 

25 November 2019

 

Capitalised terms in this announcement shall have the same meaning as in the Circular posted to shareholders today.

 

Corero Network Security plc

("Corero" or the "Company")

 

Posting of Circular and Director's Subscription

 

Corero (AIM: CNS), the listed network security company, announces that the circular to shareholders containing details of the placing and subscription announced on 25 November 2019 (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 and Richard Last, each a Director of the Company have entered into Subscription Agreements. The interests of the Directors on 22 November 2019 (being the last practicable date prior to publication of this announcement) are, and immediately following Admission will be, as follows:

 

Director

Number of Ordinary Shares held on 22 November 2019 (being the last practicable date prior to publication of this announcement)

Number of New Ordinary Shares to be subscribed for in the Subscription

Resulting number of Ordinary Shares held immediately following Admission

Resulting holding as a percentage of the Enlarged Share Capital

Jens Montanana

154,382,609*

32,917,797

187,300,406

37.85%

Richard Last

2,000,000

500,000

2,500,000

0.51%

 

* of which 33,674,846 Ordinary Shares are held in the name of JPM International Limited, which is wholly owned by Jens Montanana, and 102,953,954 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.

 

The Company further confirms that Juniper Networks Inc. has today entered into a Subscription Agreement with the Company to conditionally subscribe for 32,170,803 new Ordinary Shares.

 

Conditional upon the passing of the Resolutions at the General Meeting by Shareholders and Admission, a total of 65,588,600 new Ordinary Shares will be issued to Juniper Networks Inc, Jens Montanana and Richard Last, being the Subscribers for the Subscription Shares.

 

 

Enquiries:

 

Corero Network Security plc


Andrew Miller, CFO

Tel: 01895 876 382



Cenkos Securities plc

Tel: 020 7397 8900

Ben Jeynes/Mark Connelly - NOMAD

Michael Johnson - Sales




Vigo Communications

Tel: 020 7390 0230

Jeremy Garcia / Ben Simons /Antonia Pollock

[email protected]


 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCBSBDBRDDBGCU

Quick facts: Corero Network Security PLC

Price: 5.255

Market: AIM
Market Cap: £26 m
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on 30/9/19