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 


Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")



Robert Scott


Reason for the notification


Position / status

Non-Executive Director


Initial notification / amendment

Initial notification


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



Corero Network Security plc


Legal Entity Identifier



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


Description of the financial instrument

Ordinary Shares



Nature of the transaction

Purchase of shares and grant of options



Price(s) and volume(s)

Grant of options


Exercise Price(s)


11.75 pence




Aggregated information

-  Aggregated volume

-  Aggregated price

-  Aggregated total

 Not applicable


Date of the transaction

16 April 2024


Place of the transaction

London Stock Exchange





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).

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