Cyan Holdings Raises GBP450,000 Through Subscription Agreement (ALLISS)

Thu, 17th Mar 2016 10:19

LONDON (Alliance News) - Cyan Holdings PLC on Thursday said it has raised GBP450,000 through a share subscription.

Cyan, which designs mesh-based flexible wireless products used for utility metering and lighting control, said it has issued 250.0 million shares at 0.18 pence per share, a 20% premium to its closing price on Wednesday. Shares in Cyan were up 6.7% to 0.16p on Thursday.

The company will use the proceeds for working capital purposes.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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