CyanConnode Holdings PLC Director Shareholding and Issue of Options (2036J)
27 June 2017 - 4:01PM
UK Regulatory
TIDMCYAN
RNS Number : 2036J
CyanConnode Holdings PLC
27 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 Simon Smith, Chief Financial Officer,
has purchased 13,333,333 ordinary shares of 0.01p in the Company
("Ordinary Shares"), at a price of 0.15 pence per share.
This brings Simon Smith's interest in the Company's current
issued share capital to 223,967,014 Ordinary Shares, being
approximately 1.25 % of the current issued share capital. The total
amount invested to date in the Company by Mr Smith has increased
from GBP0.5 million to GBP0.52 million.
This purchase is following the share purchases last week by John
Cronin of GBP50,000 and Harry Berry of GBP20,000 and 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.
Simon Smith commented: "As CFO, I would also like to echo the
comments that John Cronin and Harry Berry made in the announcements
of their GBP50,000 and GBP20,000 respective share purchases at the
end of last week. Following the $9.3 million contract award
extension received for the customer in Bangladesh on June 15(th) ,
CyanConnode has won customer orders valued at GBP19 million, which
is on top of the expected GBP25M revenue from the rollout of the UK
smart metering program. Considering the 2016 reported revenue was
GBP1.8 million, these orders provides significant revenue backlog
for future periods. We are now becoming a well-established
business, with highly competitive solutions which industry leading
customers like Tata Power are buying and then re-ordering on a
repeat basis. I also viewed the recent share price weakness as an
opportunity and have therefore demonstrated my continued commitment
and support through this additional share purchase."
Furthermore, pursuant to the CyanConnode Matching Share Plan and
following the above purchase, the Company will now grant options
over 13,333,333 Ordinary Shares with an exercise price of 0.15
pence per Ordinary Share to Simon Smith. Following this grant,
Simon Smith will hold options over 286,764,802 Ordinary Shares.
The announcement on 22 June 2017 stated the incorrect number of
options held by John Cronin. The correct figure should be
755,460,781.
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 Simon Smith
--- ------------------------------- ----------------------------------
2. Reason for the Notification
--- -------------------------------------------------------------------
a) Position/status Chief Financial Officer
--- ------------------------------- ----------------------------------
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) --------- -----------
0.15p 13,333,333
--------- -----------
--- ------------------------------- ----------------------------------
d) Aggregated information:
* Aggregated volume Purchase of 13,333,333 ordinary
shares of 0.01p pence at 0.15
pence per ordinary share
* Price
--- ------------------------------- ----------------------------------
e) Date of the transaction 26 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
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