CyanConnode Holdings PLC Director Shareholding and Issue of Options (8775I)
22 June 2017 - 7:51PM
UK Regulatory
TIDMCYAN
RNS Number : 8775I
CyanConnode Holdings PLC
22 June 2017
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Director Shareholding and Issue of Options
CyanConnode (AIM:CYAN.L), the world leader in narrowband radio
mesh networks, announces that John Cronin, Executive Chairman, has
today purchased 43,500,000 ordinary shares of 0.01p in the Company
("Ordinary Shares"), at a price of 0.115 pence per share.
This brings John Cronin's interest in the Company's current
issued share capital to 429,590,662 Ordinary Shares, being
approximately 2.4 % of the current issued share capital. The total
amount invested to date in the Company by Mr Cronin has increased
from GBP0.8 million to GBP0.85 million.
This purchase is following the investment made by all Directors
and certain senior managers in the Company over the past 12 months
whereby Directors have used 100% of their remuneration to purchase
shares in the Company at the July 2016 placing price of 0.18 pence
per share. The amount invested by Directors and certain senior
managers under this arrangement was GBP0.7 million, and was in
addition to GBP0.3 million invested by Directors and senior
managers in the Placing in July 2016, bringing the amount already
invested in CyanConnode shares by the Directors and relevant senior
managers over the last twelve months to GBP1 million.
John Cronin commented: "Having already invested GBP0.8 million
of my own money in CyanConnode equity, I have today made a further
investment of GBP50,000. Over the last week we have announced two
solid customer orders, the Queen's speech to Parliament ratified
the UK Government's commitment to roll out smart metering and yet
the share price has materially declined. As the fundamentals of the
business have improved and not deteriorated, I viewed this share
price weakness as a buying opportunity."
Furthermore, pursuant to the CyanConnode Non-Executive Share
Plan, which is detailed below, and following the above purchase
yesterday, the Company will now grant options over 43,500,000
Ordinary Shares with an exercise price of 0.115 pence per Ordinary
Share to John Cronin. Following this grant, John Cronin will hold
options over 609,330,705 Ordinary Shares.
CyanConnode Matching Share Plan
The Board has adopted a share subscription and option plan in
order to retain and attract employees and Executive Directors. All
employees including Executive Directors will be offered the
opportunity to purchase up to a maximum of GBP200,000 for ordinary
shares in the Company at the then current market value and receive
an associated grant of options over an equal number of ordinary
shares at the same market value.
The key terms of the subscription and options are as
follows:
-- The employee would decide the number of ordinary shares that
he or she wishes to purchase (up to the maximum subscription of
GBP200,000) at the then market price.
-- The Company will grant the employee options to subscribe for
an equal number of ordinary shares exercisable at the same market
price per share.
-- The options will ordinarily be exercisable only after the
fourth anniversary of the date of grant.
-- The options must be exercised in any event prior to the tenth
anniversary of the date of grant.
The options may be exercised in full prior to the fourth
anniversary of the date of grant in the event of a successful
takeover of the Company.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225
060
John Cronin, Executive www.cyanconnode.com
Chairman
FinnCap Limited (Nomad Tel: +44 (0) 20 7220
and Broker) 0500
Adrian Hargrave/Giles Rolls
(Corporate Finance)
Alice Lane (Corporate Broking)
Walbrook PR (Investor Relations) Tel: +44(0) 20 7933 8780
Paul Cornelius / Nick Rome cyanconnode@walbrookpr.com
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------------------
a) Name John Cronin
--- ------------------------------- ----------------------------------
2. Reason for the Notification
--- -------------------------------------------------------------------
a) Position/status Executive Chairman
--- ------------------------------- ----------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- ----------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------
a) Name CyanConnode Holdings plc
--- ------------------------------- ----------------------------------
b) LEI n/a
--- ------------------------------- ----------------------------------
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 Ordinary shares
the Financial of 0.01p
instrument, type
of instrument
---
Identification GB00B0P66Q02
code
--- ------------------------------- ----------------------------------
b) Nature of the Purchase of ordinary shares
transaction
--- ------------------------------- ----------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) --------- -----------
0.115p 43,500,000
--------- -----------
--- ------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume Purchase of 43,500,000 ordinary
shares of 0.01p pence at 0.115
pence per ordinary share
* Price
--- ------------------------------- ----------------------------------
e) Date of the transaction 22 June 2017
--- ------------------------------- ----------------------------------
f) Place of the London Stock Exchange, AIM
transaction Market (XLON)
--- ------------------------------- ----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHOKBDQCBKKCAB
(END) Dow Jones Newswires
June 22, 2017 05:51 ET (09:51 GMT)
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From Apr 2024 to May 2024
Cyanconnode (LSE:CYAN)
Historical Stock Chart
From May 2023 to May 2024