3 October 2024
Cordel Group plc
("Cordel" or the "Company")
Completion of Placing to raise £1.0 million
TR-1: Standard form for notification of major holdings
Further to completion of the Placing, successfully raising £1.0 million (gross) through the issue of 15,384,616 new Ordinary Shares at 6.5p per share (a premium to the then prevailing share price), and Admission of the Placing Shares on 1 October 2024, Cordel Group plc (AIM: CRDL), the Artificial Intelligence ("AI") platform for transport corridor analytics, notifies the increased shareholding disclosure by Rathbones Investment Management Limited, set out below.
Defined terms in this announcement shall have the same meaning as in the Company's announcement on 26 September 2024, unless defined otherwise.
1. Issuer Details
ISIN
GB00BYZQM590
Issuer Name
CORDEL GROUP PLC
UK or Non-UK Issuer
UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Rathbones Investment Management Ltd
City of registered office (if applicable)
London
Country of registered office (if applicable)
United Kingdom
4. Details of the shareholder
| Name | City of registered office | Country of registered office |
| Rathbone Nominees Limited | London | United Kingdom |
5. Date on which the threshold was crossed or reached
01-Oct-2024
6. Date on which Issuer notified
02-Oct-2024
7. Total positions of person(s) subject to the notification obligation
| % of voting rights attached to shares (total of 8.A) | % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer | |
| Resulting situation on the date on which threshold was crossed or reached | 9.524600 | 0.000000 | 9.524600 | 20465874 |
| Position of previous notification (if applicable) | | | | |
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
| Class/Type of shares ISIN code(if possible) | Number of direct voting rights (DTR5.1) | Number of indirect voting rights (DTR5.2.1) | % of direct voting rights (DTR5.1) | % of indirect voting rights (DTR5.2.1) |
| GB00BYZQM590 | | 20465874 | | 9.524600 |
| Sub Total 8.A | 20465874 | 9.524600% | ||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
| Type of financial instrument | Expiration date | Exercise/conversion period | Number of voting rights that may be acquired if the instrument is exercised/converted | % of voting rights |
|
| | | | |
| Sub Total 8.B1 | | | | |
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
| Type of financial instrument | Expiration date | Exercise/conversion period | Physical or cash settlement | Number of voting rights | % of voting rights |
|
| | | | | |
| Sub Total 8.B2 | | | | ||
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
| Ultimate controlling person | Name of controlled undertaking | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold |
| Rathbones Group Plc | Rathbones Investment Management Limited | 9.524600 | | 9.524600% |
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
None
12. Date of Completion
02-Oct-2024
13. Place Of Completion
Port of Liverpool Building, Liverpool L3 1NW
Enquiries:
| Cordel Group PLC | C/o Strand Hanson |
| Ian Buddery, Chairman John Davis, Chief Executive Officer | |
|
Cavendish Capital Markets Limited, Broker |
+44 (0)20 3829 5000 |
| Marc Milmo / Rory Sale (Corporate Finance) Sunila de Silva (ECM) Strand Hanson Limited, Nominated Adviser Richard Johnson / James Bellman |
+44 (0)20 7409 3494
|
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
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