TIDMCYAN
RNS Number : 9096Q
CyanConnode Holdings PLC
15 September 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA, THE REPUBLIC OF IRELAND, NEW ZEALAND OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN CYANCONNODE HOLDINGS PLC OR ANY
OTHER ENTITY IN ANY JURISDICTION.
CyanConnode Holdings plc
("CyanConnode", the "Company" or together with its subsidiaries
the "Group")
Result of Placing and Subscription to raise GBP8.6 million
Notice of General Meeting
Result of Fundraising
CyanConnode (AIM:CYAN.L), the world leader in narrowband radio
mesh networks, is pleased to announce that, following the
announcement made earlier today, the Company has raised a total of
approximately GBP8.6 million (before expenses) by way of the
conditional Placing of 16,995,349 Consolidated Shares and the
Subscription for 13,857,139 Consolidated Shares, at a price of 28
pence per share (the "Issue Price").
Directors' Participation and Related Party Transaction
Certain Directors have subscribed for Consolidated Shares at the
Issue Price as per the table below (the "Directors'
Participation"):
Director As at the date of Immediately following
this document Placing Admission
--------------- ------------------- -------------------------------
Fundraising Shares Number of Percentage
Acquired Consolidated of Enlarged
Shares Share Capital
--------------- ------------------- -------------- ---------------
Peter Hutton 35,714 167,258 0.14%
--------------- ------------------- -------------- ---------------
Paul Ratcliff 17,857 91,100 0.08%
--------------- ------------------- -------------- ---------------
The subscription by the Directors constitute related party
transactions for the purposes of AIM Rule 13.
Simon Smith, John Cronin and Harry Berry are considered to be
independent directors for purposes of AIM Rule 13 ("Independent
Directors"). As such, the Independent Directors, having consulted
with the Company's nominated adviser, consider the Directors'
Participation to be fair and reasonable insofar as the Company's
shareholders are concerned.
General Meeting and Admission
The Fundraising is subject to the passing of certain resolutions
at a general meeting of the Company (the "General Meeting"). A
circular containing a notice of the General Meeting is expected to
be posted to Shareholders shortly. The Circular will set out the
reasons for, and provide further information on, the Fundraising,
to explain why the Board considers the Fundraising to be in the
best interests of the Company and its Shareholders as a whole and
why the Directors unanimously recommend that Shareholders vote in
favour of the Resolutions.
Assuming all relevant Resolutions are approved, it is expected
that EIS/VCT Admission will become effective and that dealings in
all of the Consolidated Shares and EIS/VCT Placing Shares and
5,482,142 of the Subscription Shares will have commenced by 8.00
a.m. on 3 October 2017. It is expected that General Admission will
become effective and that dealings in all of the General Placing
Shares and 6,589,283 of the Subscription Shares will have commenced
by 8.00 a.m. on 4 October 2017. It is expected that April Admission
will become effective and that dealings in 1,785,714 of the
Subscription Shares will have commenced by 8.00 a.m. on 10 April
2018.
Application will be made to the London Stock Exchange plc for
the Fundraising Shares to be admitted to trading on AIM. It is
expected that EIS/VCT Admission will become effective and that
dealings in all of the 89,543,134 Consolidated Shares, 3,257,855
EIS/VCT Placing Shares and 5,482,142 Subscription Shares will have
commenced by 8.00 a.m. on 3 October 2017. It is expected that
General Admission will become effective and that dealings in all of
the 13,737,494 General Placing Shares and 6,589,283 Subscription
Shares will have commenced by 8.00 a.m. on 4 October 2017. It is
expected that April Admission will become effective and that
dealings in all of 1,785,714 Subscription Shares will have
commenced by 8.00 a.m. on 10 April 2018. The total number of voting
rights following General Admission will be 118,609,908.
The above figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
John Cronin, Chairman, said:
"We have been delighted by the continued support shown by our
investors. The proceeds will allow us to further grow the Company
by investing in both our technology and our people."
Unless otherwise defined, all capitalised terms in this
announcement are defined in the Company's announcement of the
Fundraising (earlier today).
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 ("MAR").
Enquiries:
CyanConnode Holdings plc Tel: +44 1223 225
060
John Cronin, Executive Chairman www.cyanconnode.com
finnCap Ltd (Nomad and Broker) Tel: +44 20 7220
0500
Adrian Hargrave / Giles Rolls
(Corporate Finance)
Alice Lane / Sultan Awan (Corporate
Broking)
Walbrook PR (Financial PR) Tel: +44 20 7933
8780
Paul Cornelius / Nick Rome cyanconnode@walbrookpr.com
About CyanConnode
CyanConnode is a world leader in narrowband RF mesh networks
that enable Omni Internet of Things (IoT) communications. Its
innovative solutions use sub GHz frequencies and are optimised for
exceptional performance. Ultimesh solutions provide end-to-end
quality of service and total cost of ownership and Panmesh delivers
standards-based IPv6 solutions, enabling rapid innovation for the
implementation of 3rd party applications. Through its global
partner eco-system, CyanConnode provides customers with the
flexibility and choice required to converge networks for
applications in smart cities and IoT, delivering increased customer
value.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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